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What Is A Commercial Mortgage?

Florida Commercial Hard Money Loans | FL Private Lender

A commercial mortgage is just as it sounds: a loan for commercial purposes. A commercial mortgage is similar to a residential mortgage in that it comes from a lending institution, but most other things about them are different. A commercial mortgage is usually borrowed by a business, instead of an individual, although the individual behind the business should also have good credit history.

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If you need a commercial mortgage to develop land or buildings, there are few things that lenders look at when making a decision. One thing is the debt service coverage ratio. This is the ratio of cash that the business has available to the loan payment required. The lender wants to make sure the business can make the payments and that there is still money available if something happens to the business or investment.

Another thing a lender takes into consideration is the loan to value ratio. The land or buildings are assessed for value and that is compared to the value of the mortgage. A loan to value ratio of 55% to 70% is considered common for commercial mortgages. We are your primary source of commercial funding for self-employed borrowers who own commercial real estate. We can give you more financing options than many banks. Our commercial alternative documentations programs will help streamline the loan process and eliminates the stress and frustration of a bank that takes 60 90, or 120 days for long drawn out underwriting process.

Along with the value of the property, the lender also considers the value of the business itself. If the business is a start-up or is not stable, it will be harder to get a commercial mortgage from a lender because it is a higher risk. Businesses may have to provide detailed business plans and projections to a commercial mortgage lender.

Shop Commercial Mortgage understands the difficulty in getting a commercial mortgage from a bank. We have a pool of private investors that are waiting to give you a commercial mortgage loan and can help you close in just 14 DAYS! We have closing times between 14 and 21 days with rates from 8% to 12% so you can get a loan fast. So if you need to pull money out of your commercial building, strip center, mixed use, apartment complex, nightclub, or even storage unit, please think about calling SCM as your Floridas number one source. Don’t wait any longer to get a commercial mortgage. Contact us at 813-516-5210 to get started today!

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"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"

Mikle / Broker

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