Best Commercial Real Estate Loan in Pompano Beach, FL
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Commercial real estate loans
Real estate loans are usually used to purchase industrial buildings or to renovate established properties. Lenders often want 51% or more of the company’s assets, which means that the company will have to purchase much of the premises. When you have a commercial real estate loan, you have to settle for the kind of loan you need, and then pick a lender who is better suited for the type of commercial loan you need.
Commercial and industrial loans
Commercial real estate financing concerns the acquisition, maintenance, rehabilitation, and development of commercial assets. Loans come in multiple forms and requirements that are unique to each property and are dependent on factors such as the experience of the applicant, the investment strategy, and the feasibility of the property. The rules in different cities and states vary when it comes to industrial loans.
Multi-family loans
Developers have a variety of tools and financing mechanisms for modern real estate available. Appropriate lending options are based on the type and size of multi-family housing developments and the intended purpose of the down payment funding. We specialize in Multifamily Property Loans at Commercial Real Estate Loan Pros of Fort Lauderdale in Pompano Beach.
Mixed-use loans
A hard money loan for a mixed-use property may be sought after. Non-banks and private investors are selling these lending schemes and their options for financing them are dependent on unencumbered property values. This equity assures the lender that, if the creditor declines to return the debt, the house would be reclaimed in a mortgage auction. Unlike a bank loan, hard money lenders do not use the borrower’s financial record, e.g. poor credit, default, or bankruptcy background, as the key criterion for a loan judgment.
Construction loans
These loans are used by someone who borrows money for a property, and because there is no collateral to show the mortgage lender how well the applicant will repay the loan. This means you’ve got to go through a few more hurdles before you get the money.
Construction loans are distributed differently than traditional debt funding. Compared to the lump sum payout, lenders are reimbursed for construction loans in installments or “draws”, directly to the contractor. Each drawing corresponds to the stage of the project, such as setting the base, framing, and finishing. The building analysis shall be carried out prior to any draw, and the draw amount will be dependent on the work performed.
Private money loans
We will work quickly to meet all of your real estate financing needs, be they land financing, refinancing, or bridge financing. Private money lending requires receiving financing from a private source. Private loans are used to fund real estate transactions by people that are unwilling to apply for a regular loan or who cannot wait 30 days to receive a conventional loan.
Hard money loans
Hard money loans are a means of raising money when traditional mortgage lenders are not interested in lending to you. Loans are made for borrowers who lend funds on the basis of the properties they own (the property you will be using). Hard money loans are an easy choice for financing real estate if you do not qualify for standard bank loans or do not wish to wait for a typical bank loan to be approved. These loans are short-term, and you won’t have to do as much to qualify for them.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: