Nationwide Commercial Mortgage Specialists

These Commercial Hard Money Loans are Offered with Shop Commercial Mortgage

Shop Commercial Mortgage provides commercial hard money loans for apartments, office buildings, restaurants, warehouses, hotels, and other commercial properties. Our loans are secured by free and clear equity in the properties which do not have existing mortgages or only small balances remaining on the principal mortgage. There are different types of commercial hard money loans which Shop Commercial Mortgage can provide (all are for Florida or nationwide unless stated):

Alt-A or Subprime

These loans are secured by real estate, typically with loan-to-value (LTV) of up to 65%, for borrowers who can show good income levels but perhaps have credit issues preventing them from obtaining conventional financing. A subprime loan is an excellent choice for a borrower with good debt to income levels of 50%, good tax returns, and strong bank statements. Down payments will not exceed 40% in most cases.

Bank Statement Loans from Shop Commercial Mortgage

Bank Statement Loans

These loans are similar to subprime, but have LTV of 55% and are based on one to two years of personal or business bank statements. The applicant may have some credit but cannot show good business or personal income. Closing times are typically less than 21 business days.

Foreign Nationals Commercial Loans

We use collateral as equity similar to a Commercial Hard Money Loan. We do not run a credit check but need proof of regular income to finance the loan. LTV is typically 50% for commercial property purchases or refinancing. Closing time is typically 14 days or less as this is a simple equity-based loan.

Bank Conforming Commercial Loans

Shop Commercial Mortgage does offer bank conforming loans as a first mortgage on a property. This offers the highest LTV of up to 75% and rates starting at 6% for 1/2/3/5 years. These loans have the greatest paperwork requirements as we will ask for tax returns, rent information, personal and business bank statements, and profit/loss statements for up to three years. You must have greater than 700 credit scores, and with the comprehensive underwriting closing can take up to 40 days.

If you are looking to buy or renovate a commercial property in Florida or nationwide, contact Shop Commercial Mortgage today at 813-516-5210 for information on our commercial hard money programs.

Commercial Hard Money Loans from Shop Commercial Mortgage



Comments are closed.

Search

fl commercial private money loans
florida private money

(*) Name:

(*) Email:

(*) Phone:

(*) Commercial Address:

Loan Type:

Your Message

Are you human? Look at the following image:
captcha

Now type answer below!

Copyright © 2019 Shop Commercial Mortgage - Design by Digisphere Marketing