30 Year Fixed Commercial Mortgage Programs
Spartan Commercial Mortgage is one of the few places where real estate investors can get a 30 year fixed commercial mortgage on their real estate investments. This typically gives borrowers a sense of security. And even more, our rates are some of the lowest in the nation (even with the recent rate hikes). Furthermore, we have the ability to close quickly and provide great customer service every step of the way.
Any experienced real estate investor knows that lender’s typically only offer terms of 5 or 7 years on commercial loans. At the end of the term the rate becomes adjustable. So, borrowers are rolling the dice as to where the market will be in the future and how high their rate can rise. Higher rates mean less profit. Which in turn means less cash flow for the real estate investor.
Hybrid or variable rate loans can leave borrowers feeling helpless during times of market fluctuation. And a looming balloon payment can levy unnecessary stress upon borrowers who should be focused on running their business or managing their investment portfolio.
Borrowers who experience these concerns would feel more comfortable with something similar to the 30-year fixed rate term available for residential mortgages. The problem is that most commercial lenders don’t offer such a product.
Until now, that is.
Spartan Commercial Mortgage offers a 30-year fixed rate option for commercial loans between $100k and $2 million! This can be for a purchase or a refinance. We offer Conventional, Stated Income, as well as No Doc options. Most important to note, is that on most of our loans there are no points. Which means great savings and more cach in the pocket of the real estate investor.
Here a few examples of borrowers who could be a great fit for a 30-year fixed rate commercial loan:
- Borrowers who want to lock in the stability of a long-term rate on their investment
- Borrowers who want to maximize cash flow during their loan’s term
- Finally, Borrowers who generally want to reduce worry from market fluctuation.
Here are some additional guidelines:
- Rates depend on LTV, credit score, Debt Servicing, property type, and % of occupancy.
- LTVs up to 80% on a purchase as well as 75% for a Cash Out Refinance
- Minimum FICO: 650
- Allowable property types are: 1-4 units, apartments. office buildings, retail, self storage, mixed use, warehouses, mobile home parks, and more.
In conclusion, we are here to help with your upcoming commercial mortgage. We say “Yes” when your local bank says “No.”
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