Owner-Occupied Financing

Commercial Owner-Occupied FinancingCommercial “Owner-Occupied” doesn’t mean that the owner has to occupy the entire building or space, but they must occupy at least fifty-one percent of it. The remaining space can be leased out to another tenant or tenants and those rents can be used as part of the cash-flow to qualify for the loan.

We will require that the owner has at least twenty-percent equity to qualify for the loan or will lend a maximum eighty percent loan to value. Owner-Occupied properties also receive the best rates compared with non-owner occupied commercial properties.

We offer both fixed rate long-term financing and mini-perm financing where the rate is fixed for a set number of years and amortized over a longer term. These loans typically have a balloon feature and will need to be refinanced at the end of the fixed period. We also offer adjustable-rate mortgages where the rate is set for a fixed term and adjusts afterwards.

There are several items that will need to be reviewed in order to make the loan these include but are not limited to the following: Last three years personal and business returns of the owner, recent balance sheet and profit & loss statement for the business, a list of the assets of both the owner & the company, a commercial appraisal, survey, and environmental report.

We have the experience needed to guide your through the process to a successful closing, call us today.

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