A real estate-secured loan for the purchase of commercial property. Borrower's cash equity (down payment from own funds) must be equal to or greater than 20% of the purchase amount and loan must be in first lien position.
|Ideal For||Business owners or real estate investors who are expanding to a new location, leasing workspace and want to purchase, or looking to purchase property.|
|How it Works|
|Does it work for you?||Visit a Wells Fargo location near you.|
|Credit Amount||$50,000 to $500,000 (up to 75% LTV on first lien position).|
Balloon terms not available for purchase loans on special purpose properties.
|Interest Rates||Fixed or Prime-Based.|
|Collateral||Commercial property valued up to $3 million1 (owner-occupied and investor).|
|Optional Feature||Automatic Payment: Automatically make payments on your account at your convenience.|
|For More Information|
|How to Apply|
1 Most property types are eligible. Environmentally sensitive properties may require an environmental loan insurance policy. Property located in a flood zone may require flood insurance. These expenses if applicable, are the borrowers responsibility. Collateral properties located in rural areas may not be eligible for this offer. Purchase loans require the borrower to pay title and escrow fees. Please contact us for details. Note on Texas properties: Commercial property owners having a personal residence situated on, or adjacent to, the collateral property are not eligible for this offer. See specific product pages for additional terms and conditions.
2 A non-refundable deposit is due upon acceptance of terms, and will be applied at closing to the origination fee. The tiered deposit structure is $500 for loans up to and including $250,000, and $1,000 for loans above $250,000. Borrower is responsible for all state imposed fees and taxes, in addition to any legal fees.