Spartan Commercial Mortgage Services is a CT Commercial Mortgage Lender that offers loans that beat the competition. We specialize in financing commercial real estate. We cover most of the United States with a focus on the North East and East Coast. Spartan Commercial Mortgage offers Stated Income Commercial Mortgages as well as Conventional Commercial Mortgages. Furthermore, we offer Fix and Flip, Fix and Hold, and alternative funding solutions.
Commercial Real Estate Types:
- Apartment Buildings and Multi-Family Properties
- Mixed-Use
- Retail and 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% for Connecticut Commercial Mortgage Financing.
Commercial Mortgage Credit Score Requirements:
- 725 Min Score for our Elite Program
- 650 Min Score for our Traditional Program.
- 649 Score 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 2 weeks.
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 Connecticut Commercial 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. Furthermore, we will work with you every step of the way. Because the approval process for financing is seamless – your loan will close quickly. Call us today. We are your CT Commercial Mortgage Lender!
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
Proud Sponsor of Connecticut Youth Rugby