Commercial Mortgage in Gilbert
When you’re looking to take out a loan secured by commercial property, it is essential to be well-informed on the different financing options available to your business in Gilbert.
At Pilot Mortgage LLC, we believe in helping our clients find the right mortgage for their needs, offering our professional advice and our connections to a wide array of mortgage lenders. From pre-qualification to final negotiation, we assist you in exploring the best commercial mortgage rates in the market today.
Contact our commercial mortgage brokers at (480) 320-2322 for more information. We’ll happily answer any questions you may have about the application process.
What Does a Commercial Mortgage Mean?
Essentially, a commercial mortgage is a loan that is secured by an income property. In other words, it is a loan taken out to acquire or redevelop commercial property, where the building itself is collateral. Lenders can arrange this kind of mortgage for:
- Industrial warehouses
- Office buildings
- Retail buildings
- Mixed-use developments
- And much more!
How Do Commercial Mortgages Work?
The first step is making sure you meet the qualifications for a commercial mortgage. Potential lenders will conduct a full assessment of the following:
- Personal and corporate credit history
- Current business profitability
- Expected financial projections
- Maximum down payment
- Type of industry and property
If, after this assessment, a lender believes you are creditworthy within the circumstances, they will approve you for a certain commercial mortgage rate. Our mortgage brokers will help you navigate the rates and terms most worth your while.
What Deposit Is Needed for a Commercial Mortgage?
All lenders require a deposit, or down payment, for a commercial mortgage. The typical amount asked from borrowers is between 25% to 40% of the property market value, depending on the type of property. Our team can negotiate competitive mortgage rates with reasonable down payment requirements, and we’ll explain how your deposit affects the interest you’ll pay.
How Many Years is a Commercial Mortgage?
Most commercial mortgage loans will need to be repaid in a period no longer than 10 years. Still, commercial loan terms can vary depending on several qualifying factors and last anywhere between 3 to 20 years. Let us know what you’re hoping for as a loan term, and we’ll do our best to exceed expectations.
How to Get a Commercial Mortgage?
If you’re looking into the top financing options for a commercial real estate investment, there’s nowhere better to start than a trusted brokerage firm like ours. Schedule a preliminary consultation, and our commercial mortgage brokers will gladly guide you through the mortgage process. You’ll get to explore the most competitive of mortgage rates and have professionals put in the work for you.
Navigate Commercial Mortgage Rates in Gilbert
Whether you’re new to the commercial market, or you’re returning for more, Pilot Mortgage LLC can help you achieve your commercial real estate goals in Gilbert with proper financing solutions and trustworthy mortgage lenders.
Begin discovering your options today by giving us a call. Our mortgage brokers look forward to helping your business prosper.