Office Building Loans
Office building loans are loans that are aimed at making the dreams of most business people a reality. Using the loan, small and medium businesses, and their owners are able to receive financing.
The owners of the businesses can use the finances to remodel, construct new offices, or even buy new offices. Other than the loan helping the business people to construct and buy new offices, the loans can also be used to purchase new equipment, hiring new staff, and much more.
Advantages of the Office Building Loans
If you are tired of paying office rent or your business is expanding and you need a larger office space, you should consider the office building loans. Although, the loans will put you into debt, you will have an exquisite office at the end of it all.
Commercial office building loans are debt-based arrangements between businesses and banks. Used to fund large expenses or operational costs, commercial real estate loans are an excellent option. With these loans, the borrower receives the funds and repays the principal amount, interest, and applicable fees within the specified timeframe. At Custom Mortgage, our commercial real estate loan experts support all of our services.
Never one-size-fits-all, these kinds of loan programs vary from lender to lender and borrower to borrower while depending on various parameters including- terms, rates, uses, and so on. Out of the wide range of commercial loan programs that are available today, you can choose the best one that fits your requirements and for which you are eligible.
In contrast to other financing programs, hard money loans directly come from private investors who take the lending risks depending on the commercial property, while ignoring the credit rating of the borrower who is seeking the loan. This loan program has the loan term of 6-24 months and an interest rate of around 10% to 18% with high-upfront fees.
Commonly referred as “balloon loans,” these loan programs are the best fit for the ones who expect a large payout in the future instead of a steady revenue at the outset. Payments will occur on the lower interest rate, having a full balloon payment due at the end of the term. Borrowers who wish to build up, or construct a commercial property with a plan to refinance the end-term sum later can go for an interest-only payment loan.
Going for a home mortgage, borrowers like to fetch benefits of lower interest rates from a commercial property loan. Refinancing can fuel profit flow via improving or expansion of commercial properties, it even helps to pay off looming expenses, similar to the final payment on an interest-only loan.
The interest rates on commercial property loan generally ranges between 4.75% and 6.75%; while it may vary with market trends and go slightly up and down. In this loan program, the interest and payment will remain static.
A bridge loan is a softer form of hard loan and has a lower interest rate of 6.5% to 9% and longer terms and short approval to funding wait of around 15 to 45 days. Borrowers must have a credit score of a minimum 650 and must be able to cover a 10-20% down payment.
Construction loan programs that covers the material and labor costs for building a property structure like offices, retail fronts, and so on. In case an undeveloped piece of land is already purchased, it can be used as collateral for the construction loan. These loan programs range from 18 to 36 months.
In a commercial real estate, borrowers can fold numerous properties into single financing arrangements. Like if a person has eight properties covered under a blanket loan and plans to sell two out of them, he can do that without incurring penalties and therefore use the profit to invest somewhere else.
If you are looking for expansion of your business, or the cost of renting business premises has become too high, you should consider applying for commercial loans.
Ultimately, the choice of fixed or variable rates will depend on the free cash flow your business generates once you have paid all of your expenses, including any previous commercial loan payments.
If the real estate increases in value, your capital will be increased and commercial mortgage interest will be tax deductible. Borrowers can borrower the down payment for a commercial property from investors who base the financing on the company’s shareholding dividends or income. If your company is not regularly certified by one of the larger CPA companies, you can opt for a loan with a slightly higher interest rate and no income verification.
You are at a disadvantage if you are looking for financing small businesses for a retail, service or hospitality company, especially if you are looking for funding to start up a business. If you do not have a credit history or collateral due to divorce or are a new immigrant or because you are young, or because you have poor creditworthiness, Custom Mortgage hard money programs and sub prime Commercial property mortgages are available.
Despite the guarantees provided, most programs will also require a General Security Agreement (GSA) on ownership and all corporate assets. If you want a commercial real estate mortgage but have not been in business for long, niche programs we offer can be your best bet, because these programs are often available for shorter trading periods and have lower Debt Service requirements (1 DSCR).
Custom Mortgage will look more closely at your previous experience in investing in commercial real estate, when underwriting your commercial property financing application. Our hard money-based commercial property financing options are considered short-term loans that are used for the purchase and sometimes renovation of a commercial real estate used by the owner for refinancing to a long-term mortgage.
During our underwriting process for commercial property financing, Custom Mortgage requires you to submit regular financial reports in good time. After sending us all the documents and understanding what you want, we will search for the best program that you may qualify for with your credit on commercial real estate with favorable terms at competitive interest rates.
In most cases, even if you provide a brief summary, you must have a complete business plan in place as soon as we request it. If you are thinking of refinancing commercial credit, you can simply take care of lowering your interest rates.
Have you been looking for financing opportunities for your new business plans, are you looking for a loan to expand your existing business, are you in a precarious situation with unpaid invoices and are you not sure where or where to turn?
While qualifying for financing is usually easier for big, well-established businesses, some smaller businesses may be eligible for commercial financing from the Small Business Administration (SBA). The SBA may provide either financing or insure a lender who takes a risk on a business to supply fund. Businesses can seek the assistance of Custom Mortgage in structuring and sourcing of commercial fund. We provide the following types of loans.
State | City | County |
AL | Birmingham | Jefferson |
AL | Huntsville | Madison |
AL | Mobile | Mobile |
AL | Montgomery | Montgomery |
AL | Tuscaloosa | Tuscaloosa |
AK | Anchorage | Anchorage Borough |
AK | Fairbanks | Fairbanks North Star |
AZ | Chandler | Maricopa |
AZ | Gilbert | Maricopa |
AZ | Glendale | Maricopa |
AZ | Mesa | Maricopa |
AZ | Peoria | Maricopa |
AZ | Phoenix | Maricopa |
AZ | Scottsdale | Maricopa |
AZ | Surprise | Maricopa |
AZ | Tempe | Maricopa |
AZ | Tucson | Pima |
AZ | Yuma | Yuma |
AR | Fort Smith | Sebastian |
AR | Little Rock | Pulaski |
CA | Agoura Hills | Los Angeles |
CA | Anaheim | Orange County |
CA | Antioch | Contra Costa |
CA | Bakersfield | Kern |
CA | Berkeley | Alameda County |
CA | Beverly Hills | Los Angeles |
CA | Burbank | Los Angeles |
CA | Calabasas | Los Angeles |
CA | Carlsbad | San Diego |
CA | Carson | Los Angeles |
CA | Chico | Butte |
CA | Chula Vista | San Diego |
CA | Clovis | Fresno |
CA | Compton | Los Angeles |
CA | Concord | Contra Costa |
CA | Corona | Riverside |
CA | Coronado | San Diego |
CA | Costa Mesa | Orange County |
CA | Daly City | San Mateo |
CA | Downey | Los Angeles |
CA | El Cajon | San Diego |
CA | El Monte | Los Angeles |
CA | Elk Grove | Sacramento |
CA | Escondido | San Diego |
CA | Fairfield | Solano |
CA | Fontana | San Bernardino |
CA | Fremont | Alameda |
CA | Fresno | Fresno |
CA | Fullerton | Orange |
CA | Garden Grove | Orange |
CA | Glendale | Los Angeles |
CA | Hayward | Alameda |
CA | Huntington Beach | Orange |
CA | Inglewood | Los Angeles |
CA | Irvine | Orange |
CA | Laguna | Orange |
CA | Lancaster | Los Angeles |
CA | Long Beach | Los Angeles |
CA | Los Angeles | Los Angeles |
CA | Malibu | Los Angeles |
CA | Marina Del Rey | Los Angeles |
CA | Millbrae | San Mateo |
CA | Mission Viejo | Orange |
CA | Modesto | Stranislaus |
CA | Moreno Valley | Riverside |
CA | Murrieta | Riverside |
CA | Newport | Orange |
CA | Norwalk | Los Angeles |
CA | Oakland | Alameda |
CA | Oceanside | San Diego |
CA | Ontario | San Bernardino |
CA | Orange | Orange |
CA | Oxnard | Ventura |
CA | Palmdale | Los Angeles |
CA | Pasadena | Los Angeles |
CA | Pomona | Los Angeles |
CA | Rancho Cucamonga | San Bernardino |
CA | Rancho Palos Verdes | Los Angeles |
CA | Rialto | San Bernardino |
CA | Richmond | Contra Costa |
CA | Riverside | Riverside |
CA | Rolling Hills Estates | Los Angeles |
CA | Roseville | Placer |
CA | Sacramento | Sacramento |
CA | Salinas | Monterey |
CA | San Bernardino | San Bernardino |
CA | San Diego | San Diego |
CA | San Francisco | San Francisco |
CA | San Jose | Santa Clara |
CA | San Mateo | San Mateo |
CA | Santa Ana | Orange |
CA | Santa Barbara | Santa Barbara |
CA | Santa Clara | Santa Clara |
CA | Santa Clarita | Los Angeles |
CA | Santa Cruz | Santa Cruz |
CA | Santa Maria | Santa Barbara |
CA | San Marino | Los Angeles |
CA | Santa Monica | Los Angeles |
CA | Santa Rosa | Sonoma |
CA | Sausalito | Marin |
CA | Simi Valley | Ventura |
CA | Solana Beach | Solano |
CA | South Gate | Los Angeles |
CA | Stockton | San Joaquin |
CA | Sunnyvale | Santa Clara |
CA | Temecula | Riverside |
CA | Thousand Oaks | Ventura |
CA | Torrance | Los Angeles |
CA | Vacaville | Solano |
CA | Vallejo | Solano |
CA | Ventura | Ventura |
CA | Victorville | San Bernardino |
CA | Visalia | Tulare County |
CA | Vista | San Diego |
CA | West Covina | Los Angeles |
CA | Westlake Village | Los Angeles |
CA | Westminster | Orange |
CO | Arvada | Jefferson |
CO | Aurora | Douglas |
CO | Boulder | Boulder |
CO | Centennial | Arapahoe |
CO | Colorado Springs | El Paso |
CO | Denver | Arapahoe |
CO | Fort Collins | Larimer |
CO | Greeley | Weld |
CO | Lakewood | Jefferson |
CO | Longmont | Boulder |
CO | Pueblo | Pueblo |
CO | Thornton | Adams |
CO | Westminster | Adams |
CT | Bridgeport | Fairfield |
CT | Hartford | Hartford |
CT | New Haven | New Haven |
CT | Stamford | Fairfield |
CT | Waterbury | New Haven |
DE | Dewey Beach | Sussex |
DE | Dover | Kent |
DE | Newark | New Castle |
DE | Middleton | New Castle |
DE | North Star | New Castle |
DE | Rehoboth Beach | Sussex |
DE | Wilmington | New Castle |
FL | Boca Raton | Palm Beach |
FL | Cape Coral | Lee |
FL | Clearwater | Pinellas |
FL | Coral Springs | Broward |
FL | Davie | Broward |
FL | Fort Lauderdale | Broward |
FL | Gainesville | Alachua |
FL | Hialeah | Miami-Dade |
FL | Hollywood | Broward |
FL | Jacksonville | Duval |
FL | Lakeland | Polk |
FL | Miami Beach | Miami-Dade |
FL | Miami Gardens | Miami-Dade |
FL | Miami | Miami-Dade |
FL | Miramar | Broward |
FL | Ocala | Marion |
FL | Orlando | Orange |
FL | Palm Bay | Brevard |
FL | Palm Beach | Palm Beach |
FL | Pembroke Pines | Broward |
FL | Pincrest | Miami-Dade |
FL | Plantation | Broward |
FL | Pompano Beach | Broward |
FL | Port Saint Lucie | Saint Lucie |
FL | Saint Petersburg | Pinellas |
FL | Sunrise | Broward |
FL | Tallahassee | Leon |
FL | Tampa | Hillsborough |
FL | West Palm Beach | Palm Beach |
GA | Athens-Clarke | Clarke |
GA | Atlanta | Fulton |
GA | Augusta | Augusta-Richmond |
GA | Columbus | Muscogee |
GA | Roswell | Fulton |
GA | Sandy Springs | Fulton |
GA | Savannah | Chatham |
HI | Honolulu | Honolulu |
ID | Boise | Ada |
IL | Aurora | Kane |
IL | Chicago | Cook |
IL | Elgin | Kane |
IL | Joliet | Kendall |
IL | Naperville | DuPage |
IL | Peoria | Peoria |
IL | Rockford | Winnebago |
IL | Springfield | Sangamon |
IL | Waukegan | Lake |
IN | Fort Wayne | Allen |
IN | Indianapolis | Marion |
IA | Cedar Rapids | Linn |
IA | Davenport | Polk |
IA | Des Moines | Polk |
KS | Overland Park | Johnson |
KS | Wichita | Sedgwick |
KY | Lexington | Fayette |
KY | Louisville | Jefferson |
LA | Baton Rouge | Marshall |
LA | New Orleans | Orleans Parish |
LA | Shreveport | Caddo Parish |
ME | Portland | Cumberland |
MD | Baltimore | Baltimore |
MA | Boston | Suffolk |
MA | Brockton | Plymouth |
MA | Cambridge | Middlesex |
MA | Fall River | Bristol |
MA | Lowell | Middlesex |
MA | Lynn | Essex |
MA | New Bedford | Bristol |
MA | Quincy | Norfolk |
MA | Springfield | Hampton |
MA | Worcester | Worcester |
MI | Ann Arbor | Washtenaw |
MI | Dearborn | Wayne |
MI | Detroit | Wayne |
MI | Flint | Genesee |
MI | Grand Rapids | Kent |
MI | Lansing | Ingham |
MI | Livonia | Wayne |
MI | Sterling Heights | Macomb |
MI | Warren | Macomb |
MN | Minneapolis | Hennepin |
MN | Saint Paul | Ramsey |
MS | Jackson | Hinds |
MO | Kansas City | Wyandotte |
MO | Springfield | Greene |
MO | Saint Louis | Saint Louis |
MT | Bozeman | Gallatin |
NE | Lincoln | Lancaster |
NE | Omaha | Douglas |
NV | Henderson | Clark |
NV | Las Vegas | Clark |
NV | North Las Vegas | Clark |
NV | Reno | Washoe |
NH | Manchester | Hillsborough |
NJ | Elizabeth | Union |
NJ | Jersey City | Hudson |
NJ | Newark | Essex |
NJ | Paterson | Passaic |
NM | Albuquerque | Bernalillo |
NY | Albany | Albany |
NY | Buffalo | Erie |
NY | New York | New York |
NY | Rochester | Monroe |
NY | Yonkers | Westchester |
NC | Cary | Chatham |
NC | Charlotte | Mecklenburg |
NC | Durham | Durham |
NC | Fayetteville | Cumberland |
NC | Greensboro | Guilford |
NC | High Point | Guilford |
NC | Raleigh | Wake |
NC | Wilmington | New Hanover |
NC | Winston-Salem | Forsyth |
ND | Williston | Williams |
OH | Akron | Summit |
OH | Cincinnati | Hamilton |
OH | Cleveland | Cuyahoga |
OH | Columbus | Franklin |
OH | Dayton | Montgomery |
OH | Toledo | Lucas |
OK | Broken Arrow | Tulsa |
OK | Norman | Cleveland |
OK | Oklahoma City | Oklamhoma |
OK | Tulsa | Tulsa |
OR | Beaverton | Washington |
OR | Eugene | Lane |
OR | Gresham | Multnomah |
OR | Hillsboro | Washington |
OR | Portland | Multnomah |
OR | Salem | Marion |
PA | Allentown | Lehigh |
PA | Erie | Erie |
PA | Philadelphia | Centre |
PA | Pittsburgh | Allenheny |
RI | Providence | Providence |
SC | Charleston | Charleston |
SC | North Charleston | Berkleley |
SD | Sioux Falls | Minnehaha |
TN | Knoxville | Knox |
TN | Memphis | Shelby |
TN | Murfreesboro | Rutherford |
TN | Nashville | Davidson |
TX | Allen | Collin |
TX | Amarillo | Potter |
TX | Arlington | Tarrant |
TX | Austin | Travis |
TX | Carrollton | Dallas |
TX | Corpus Christi | Nueces |
TX | Dallas | Dallas |
TX | Denton | Denton |
TX | El Paso | El Paso |
TX | Fort Worth | Tarrant |
TX | Frisco | Collin |
TX | Garland | Dallas |
TX | Grand Prairie | Dallas |
TX | Houston | Harris |
TX | Irving | Dallas |
TX | Laredo | Webb |
TX | McKinney | Collin |
TX | Mesquite | Dallas |
TX | Plano | Collin |
TX | Richardson | Dallas |
TX | San Antonio | Bexar |
UT | Salt Lake City | Salt Lake |
VT | Burlington | Alamance |
VA | Alexandria | Fairfax |
VA | Chesapeake | Chesapeake |
VA | Hampton | Elizabeth City |
VA | Newport News | Warwick |
VA | Norfolk | Norfolk |
VA | Portsmouth | Portsmouth |
VA | Richmond | Chesterfield |
VA | Roanoke | Roanoke |
VA | Virginia Beach | Virgina Beach |
WA | Bellevue | King |
WA | Everett | Snohomish |
WA | Federal Way | King |
WA | Kent | King |
WA | Renton | King |
WA | Seattle | King |
WA | Spokane Valley | Spokane |
WA | Spokane | Spokane |
WA | Tacoma | Pierce |
WA | Vancouver | Clark |
WA | Washington, D.C. | Washington |
WA | Yakima | Ferguson |
WV | Charleston | Kanawha |
WI | Green Bay | Brown |
WI | Kenosha | Kenosha |
WI | Madison | Dane |
WI | Milwaukee | Milwaukee |
WY | Gillette | Campbell |
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