- $50,000 to $1 million loan amount
- No application fee; no appraisal fee
- 1% origination fee, maximum $5,000
- Up to 75% loan to value
Great For
- Paying off an existing mortgage on your commercial property for a lower rate or a longer term
- Paying off a private party or maturing loan
- Leveraging equity for property improvements or business expenses
Other Features
- Low closing costs
- Competitive rates – fixed or prime-based adjustable
- Wide variety of term options
- Rate and fee match assurance so you are confident with the offer you are provided
Fees
Annual fee. None
Early closure fee for prime-based loans. $3,000 when closed within the first 3 years
Pre-payment fee for fixed rate loans. 3% of prepaid amount in years 1 through 3; zero thereafter
Eligible Property Types
- Office
- Retail
- Warehouse
- Light industrial
- Mixed-use
- Multi-family (5+ units)
- Commercial Condo (first lien position only)
- Special purpose (first lien position only)
- Auto repair
- Convenience store
- Convalescent home
- Health club or gym
- Assisted living facility
- Gas station (<10 years old)
- Self-storage
- Daycare or preschool
- Nursery
- Theater
Generally accepted special purpose
