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Wells Fargo Purchase AdvantageSM Loan

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 ForBusiness 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
  • When you have selected a property that you are ready to purchase, speak with a banker to apply for a loan.
  • Pay no application and no appraisal fees and save thousands of dollars. Borrowers are responsible for title and escrow fees.
  • Receive funds and pay off over a specified amount of time.
Does it work for you?Visit a Wells Fargo location near you.

Additional Information

Credit Amount$50,000 to $500,000 (up to 75% LTV on first lien position).
TermsChoose from:
  • 5, 10 or 15-year terms
  • 10-year balloon with a 25-year amortization schedule
  • 5-year balloon with a 25-year amortization schedule

Balloon terms not available for purchase loans on special purpose properties.
Interest RatesFixed or Prime-Based.
CollateralCommercial property valued up to $3 million1 (owner-occupied and investor).
  • Application Fee: None
  • Appraisal Fee: None
  • Origination Fee: 1% of loan, due at closing2
  • Annual Fee: None
  • Title and Escrow Fees: Borrower's responsibility (Due on purchase deals, land sale contracts, and buyouts)
  • Prepayment Fee: Fixed-rate loans have a 3% pre-payment fee applied to payments made in excess of the payment schedule or early payoff requests in the first three years of the loan
  • Early Closure Fee: For Prime-based loans, a $3,000 early closure fee applies if closed within 3 years of origination
Optional FeatureAutomatic Payment: Automatically make payments on your account at your convenience.
For More Information
  • Review our Frequently Asked Questions.
  • Compare our business loans.
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.
Equal Housing Lender