Spartan Commercial Mortgage Services offers Strip Mall Mortgage Programs tailor made to fit your needs. These programs are great for either a purchase or refinance. Historically, we have offered 80% loan to value on all of our loans. Even more, our rates are very competitive!

All Allowed Property Types:

Apartment Buildings and Multi-Family Properties
Mixed-Use
Retail and Strip Malls
Office
Auto Repair (Not Gas Stations)
Day Care
Funeral Home
Beauty Shops
Motels/Hotels
Warehouse
Mobile Home Parks
Campgrounds
Churches
Self-Storage
Dry Cleaner (Drop off only)
Finally, Recreational properties

Ineligible Properties:

Raw land
Likewise, land requiring “ground up” construction (any loan requiring rehab work must equal 10% or less of the property value)
Also, Gas stations (although, we will lend on auto repair/auto body shops) are not allowed.

LTV: Maximum LTV is 80%

Credit Scores for Strip Mall Mortgage Loans:

725 Min Score for our Elite Program
660 Min Score for our Traditional Program.
659 and Under for our Alternative Financing.

Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information). Also, the fix and flip (rehab) commercial loan can be closed in under 3 weeks.

Strip Mall Financing Rates: We offer 30 year fixed rates, 25 year fixed rates, 20 year fixed rates, 15 year fixed rates, and 5 or 7 year adjustable rate mortgages. Rates will vary depending on credit score.

Points: While Spartan Commercial does their best to not charge any upfront points, in some cases 1 to 2 points are charged depending on the transaction.

Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty. Call me for shorter prepayment terms.

States: We transact commercial mortgages in 42 states. Except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.

In conclusion, we are here to help with your upcoming Strip Mall Mortgage. We say “Yes” when your local bank says “No.” Since we specialize in this type of financing we are able to help you get your commercial mortgage closed quickly. We will also work with you every step of the way. Because the approval process for financing is seamless – your loan will close quickly.

Call us today for a free consultation or click here to get pre-approved.

Thanks,

Michael Meyer

President Spartan Commercial Mortgage Services

mike@spartancommercialmortgage.com

(860) 876-0572