There are a number of different types of commercial loans available to you, and it can pay to familiarize yourself with them. We're here to help you choose the best type of loan for your needs.
Full-Doc Loans offer commercial real estate investors the largest amount of funding with the lowest rates available. Just like the name of the program, this loan will require full-documentation such as tax returns and a personal financial statement (PFS).
A Small Business Administration loan is a small business loan guaranteed by the U.S. Small Business Administration (SBA). These loans can be used by businesses to cover startup costs, expansions, real estate purchases, and a wide range of other expenses. They are not issued directly by the government but by banks and other financial institutions.
A bank statement loan is a type of mortgage that allows self-employed borrowers to verify their income based on their personal or business bank statements, rather than traditional methods like tax returns, W-2s, or paystubs. Bank statement loans are generally used by self-employed individuals, small business owners, or independent contractors.
The debt-service coverage ratio (DSCR) is a measure of the cash flow available to pay current debt obligations. The DSCR measures a business's cash flow vs. its debt obligations. Lenders use the DSCR to determine whether a business has enough net operating income to pay back loans.
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.
Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...
