Commercial Land Loans
- For any small business venture in to be successful, it is very important for an individual to purchase commercial real estate or have their pre-owned real estate.
- There are many lenders, who have both the expertise and financing solutions; which any individual requires for any commercial land loans plan.
- It may include any type of commercial property, office buildings, shopping malls, mixed-use buildings and multi-family dwellings, corporate offices etc.
- It also includes commercial land loans for the purposes of apartment buildings and multi-tenanted office, industrial and retail properties also.
- The commercial land loan in may reach up to loan amounts from $100,000 to $2 million with up to 80% loan-to-value for multi-family dwellings also.
- Provided the individual has the capacity and agrees terms like guarantee etc.
- The terms of commercial land loan may be from 5, 10 and 15 years and exceed up to 25 years amortization.
- It comprises of variable or fixed rates.
- It offers equal housing lender, buying or refinancing, purchasing land or a new or existing commercial property.
- The commercial land loans are secured by the owner occupied commercial real estate i.e. OOCRE.
- Small business administration loan also comes under commercial land loan in , the financing is guaranteed by many such SBA’s. Few of them have fixed rates with low interest in .
- As per SBA 504, which is suitable for commercial real estate loans of $350,000 and above, SBA 7A and SBA express programs; which generally offers the borrower with lower down payments and longer financing terms.