Finding a California commercial mortgage can be a complex process. When you understand the differences between residential and commercial loans and come prepared, you will put yourself in a good position to negotiate better terms with lenders and get better interest rates.
Instead of wasting time checking out lenders one by one, our unique database helps you find the perfect commercial loan in minutes, including non-recourse loans for up to 35 year terms at up to 83% LTV.
For commercial mortgages on properties in Los Angeles, Irvine, San Jose, Anaheim, Modesto, Oxnard, Huntington Beach, Santa Clarita and throughout California, our system delivers a full spectrum of loan packages from FHA/HUD, Fannie Mae, Freddie Mac, as well as from commercial banks, insurance companies, conduit lenders, credit unions, REITs, pension funds and private money lenders that will suit your specific requirements.
Whether you are acquiring, building, renovating or refinancing an apartment building, condominium complex, skilled nursing facility, assisted care facility or multi-family property, you will have unparalleled access to commercial lenders who offer the most competitive financing options.
You will find:
Consider these factors as you evaluate your lending options:
The steps involved in the commercial loan process include the application, pre-approval, processing, underwriting and closing. Some lenders like to prequalify potential borrowers to determine how much they can afford.
This will also give you and your lender an opportunity to see which loan program would be most appropriate for your needs.
Residential properties are single family residences and apartment buildings with up to 4 dwelling units and they require residential loans. Multifamily properties with 5 or more dwelling units are considered commercial property and require commercial loans.
Traditional lenders, such as banks and credits unions, will want to see good credit scores. This is not always a requirement with hard money lenders who have more flexible underwriting requirements. If you have good credit, sufficient value in your property, and you prove to the lender that you have the ability to repay your loan, you will be offered the most competitive rates.
While it may seem like a never-ending process, the more documentation you can provide to potential lenders to demonstrate the profitability of your commercial real estate, the speedier the loan process will be.
Expect to provide the lender with tax returns (personal and business), profit and loss statements, rent rolls, leases, financial statements and more.
Get a commercial mortgage quote from Artemis Commercial’s mortgage wizard today!
Our lender database will help you find financing options for a California commercial mortgage with highly competitive rates and terms and our lenders will provide you with efficient, borrower-friendly service.
You will find financing options in Orange County, San Diego County, San Bernardino County, Fresno County, Ventura County, Los Angeles County and elsewhere in California. Try our commercial mortgage wizard today.
