Commercial hard money does not fit everyone’s purpose for commercial real estate financing.
Not to Loan Commercial Hard Money
We have teamed up with national lenders in assisting us with our customers with commercial financing If you have decent credit scores and enough equity in your property to finance, a conforming commercial loan with a low interest rate would best fit your circumstances. Even if you are a few points away from conforming commercial financing, we suggest fine tuning or fixing your personal credit instead of first considering commercial hard money.
If you are seeking the best financing options for commercial lending, your credit score requirement for conventional financing would start at 680 or better. If you do not have the credit score requirement of 680 or better, a minimum credit score of 625 with equity will work for your alternative commercial lending transaction.
To Loan Commercial Hard Money
For Example: A recent client of ours had a 640 credit score, he was approved for a commercial hard money loan for his mixed use property. The key factors of this loan approval were:
1. The property was free and clear, there were no existing liens on the property.
2. The client had past good mortgage history
3. The client requested only a 25% loan to value on the property
Making this loan sounds easy, however, it was not, there were other obstacles in this transaction, however, we worked well with lender who approved this transaction
Please send us your commercial loan scenario, whether it is conforming or non-conforming commercial financing. We work with popular nationwide lending institutions who have been in business for decades and ready to work for you. We take no upfront broker fees for business loans or commercial real estate loans. Consultations are free.
For more information on how we can help you locally with commercial lending in Naples FL, Bonita Springs and Fort Myers please fill out the online contact form about your concerns or give us a call at 239.260.4602 . Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page