Most investors of commercial real estate secure a loan, or mortgage, to cover a portion of the purchase price. Unlike a residential mortgage, which typically carries a fixed rate term of 30 years, commercial loans are often 5 to 7 years in length and include a balloon payment at the end of the term.
Applying for a commercial mortgage loan doesn’t have to be an overwhelming or complicated process. With the right knowledge and lending team on your side, you can find the right funding scenario to meet your needs. Here are a few commercial loan steps to take before you apply: Author: Zack NorthZack North is the Director […]