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Commercial Property:
A classification of real estate which includes income producing property, such as office building, medical centers hotels, stores and apartment complexes over five units.
The industry has produced several loan types to suit the borrower needs. Most commercial loans will require 30% down towards the purchase. Most Lenders will refinance 70% loan to value. Almost all of the loans are ARMS which are amortized over a 30 years period or term. They can be fixed for a period 3, 5, or 7 years. Most Commercial banks will require these loans to be full documentation. (EX: tax returns, profit and loss, leases, business license etc.)
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