Commercial Loans – Which one is right for you?

commercial loans for dummies

At Westar Funding we have the ability to provide you with each type of loan, from conforming to SBA and also Hard Money. It is important that you learn about these three options and discover which loan program works for you.

Commercial Conforming

Conforming loans are available in all states and require 650 FICO minimum score, the Max LTV depends on the property type, Multi-use and Special Use. Multi-Use Max LTV is 65%, while Special-Use Max LTV is 60%.

Multi-Use

  • COMMERCIAL
  • INDUSTRIAL
  • INDUSTRIAL CONDO
  • WAREHOUSE
  • MIXED RETAIL W/OFFICE
  • MIXED USE COMM/RES
  • OFFICE CONDO
  • OFFICE
  • DENTAL OFFICE
  • MEDICAL OFFICE
  • LIGHT MANU & INDUSTRIAL
  • RETAIL
  • OFFICE

Special-Use

  • AUTO DEALERSHIPS
  • AUTO SERVICE & REPAIR
  • ASSISTED LIVING
  • GROCERY STORES
  • FUNERAL HOMES
  • RESTAURANTS
  • PROPERTIES WITH EXCESS LAND

Commercial SBA

SBA loans follow similar guidelines, however they require 51% or greater owner occupancy. The Max LTV on both Multi-Use and Special-Use is 90%. These loans offer exceptional value, yet do require a high owner occupancy, we highly suggest that if you meet the requiment that you consider taking advantage of this stimulous program provided by the federal goverment via the Small Business Administration.

Hard Money

Available from Westar and in the following states; Washington, Oregon and Idaho. We specialize in bridge loans, often those that close quickly, in as little as one to two weeks. We are a no-nonsense funding group and will work with you to find the best options to meet you needs. Learn more at Hard Money Commercial Loans.

Location : Features

Categories : Features

Response

2 Responses to Commercial Loans – Which one is right for you?

  1. Janeen Whale says:

    I am interested in buying a piece of commercial property and building a home and a shop for my husband’s business. I found a piece of property for 300,000n and the shop will cost around 150,000. We will sell our house to pay for construction of a home on the property for us. Can you help?

    Janeen

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