MORTGAGE FINANCING
Get access to business financing by leveraging your property
Mortgage financing can help expand your business to additional or new real estate, fund capital improvements, or pursue new business and growth opportunities by taking advantage of the equity in your property.
There is no commitment or impact on your credit by applying.
1.
How funding works:
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A lien is put on a currently-owned property in order to obtain funds for any purpose
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A lien is put on a property that you are looking to buy in order to obtain funds for its purchase
2.
Rates are based on:
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The security and length of the loan
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The loan to value ratio
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Your credit
3.
Ask Yourself:
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Do you own any commercial property?
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Are you looking to buy any commercial property?
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Is the commercial property currently producing income?
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Is there any debt on the property?
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How many units are on the property?
4.
Required documents:
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Profit and loss statements
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Property info: appraisal or broker’s opinion of value (BOV)
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3 most recent years tax returns
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Personal financial statements – updated within last 60 days
5.
Good to know:
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Mortgage financing is only available for income-producing property
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The most common way for a property to produce income is by having tenants
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A property with both a business and a tenant on it is referred to as a mixed use property
There is no commitment or impact on your credit by applying.