Commercial Property Mortgage
Choose The Commercial Property Mortgage That Lets You Put Less Down
Most banks will generally want you to put down 20% to 30% but with our SmartChoice commercial property mortgage, it’s a bit different, in most case you only need put down 10%. The first mortgage is 50 percent of the total project cost, and the second is 40 percent of the total project cost. The difference is the borrower’s 10 percent equity. You put the 50 percent first and the 40 percent second together, and that’s how you get our 90 percent loan-to-cost financing. However, the bank will only hold the 50 percent loan-to-cost first mortgage (or trust deed.) The 40 percent piece is actually sold off in the bond market on Wall Street as a government-guaranteed debenture. This happens to be the least expensive financing available to a business owner who’s buying a commercial property.
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Warning: Choosing The Wrong Commercial Property Mortgage Could Seriously Damage Your Wealth
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Planning Your Commercial Property Mortgage
