Commercial Loans - Home Mortgage Network of America, Inc.
Commercial Loans are defined as a way to provide fund for the purchase of a new property or to meet the business expenses etc. Commercial loans may be used to purchase office buildings, apartments, complexes, and retail outlets or to meet business and operating expenses. Commercial loans transactions involve high cash transfer and require more security and surity against the loan. The application and approval process for commercial loans is not as simple as applying for a personal loan or any other standard loan, as there are lots of complication involve on approval of commercial loan.
In commercial Loan programs the borrower is required to put up collateral to secure the loan and the lender should thoroughly review the credit history of the applicant, the business partners or others with an ownership interest to assess the height of risk it is undertaking. In commercial Loan there is a wide variety of choices in both secured and unsecured loans with high interest rates and repayment schemes.
Basically the property type for commercial loan includes Automotive, Light Industrial, Mobile Home Park, Office, Retail, Self Storage, Warehouse, Hospitality, Funeral Home, Industrial, Rooming House, Gas Stations, Health Care, Restaurant, and RV Park etc.
Don't get confused by the different types of commercial loan programs available in the market. Choose our easy mortgage loan process for your commercial loan needs. Home Mortgage Network is a leading commercial loan provider. We offer different type of commercial Loan programs. We cover different loan amounts on the basis of different property types. Our commercial programs property types include Multi-family & mixed-use residential, Multi-family & mixed-use residential-Low, Strict commercial & mixed-use commercial.
Multi-family & mixed-use residential -
A multifamily property is a residential building that contains three or more attached dwelling units. Multifamily structure contains dwelling units with common area facilities such as mechanical space, elevators, entrances, lobby, stairs, walks or grounds. The properties would not be considered as a multifamily property which is provided for weekly or monthly housing.
Mixed-use residential properties contain both commercial unit (retail, office etc.) and residential unit. Commonly mixed-use properties include a ground floor retail or office unit with apartment(s) above, all within the same building.
The maximum loan amount for Multi-family & mixed-use residential property- No Doc is $2.5 million and Multi-family & mixed-use residential-Low Doc is $5 million
Strict commercial & mixed-use commercial -
We accept both strict commercial & mixed-use commercial property. We offer the maximum loan amount for strict commercial & mixed-use commercial Property is $2 million.
Call us to know more about our special mortgage program and get mortgage loan, commercial loans or mortgage refinance loan with ease.