Commercial Condo Mortgage Loans

Commercial Condo Mortgage

Northeast Financial is a Commercial Mortgage Loan provider. We specialize in commercial condo mortgage financing.  We offer both stated income and full doc commercial condo mortgage options.

Commercial Condo Uses:

  • Multi-Family
  • Mixed-Use
  • Retail and Office
  • Auto Repair
  • Day Care
  • Funeral Home
  • Beauty Shops
  • Motels/Hotels
  • Warehouse
  • Churches
  • Self-Storage
  • Dry Cleaner (Drop off only)
  • Finally, Recreational properties

LTV: Maximum LTV is 70% for credit scores of 660 and less.  And a Maximum LTV of 75%/80% with higher Fico Scores.

Credit Scores:

  • 660 Min Score for our Elite Program
  • 600 Min Score for our Traditional Program.

Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information)

Rates: Fixed Rates ranging from 6.5% to 10% based over 25 years or 30 years.

Points:  While Northeast Financial does their best to not charge any upfront points, in some cases 1 to 2 points are charged depending on the transaction.

Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty or 5% for 5 years

States:   Finally, we transact commercial mortgages in 42 states except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.

In conclusion, we are here to help with your upcoming commercial condo mortgage loan.  We say “Yes” when your local bank says “No.”  Since we specialize in this type of financing we are able to help you get your commercial condo mortgage closed quickly.  And, we will work with you every step of the way.

Call us today for a free consultation or to get pre-approved. There are many great commercial mortgage lender programs available to you through Northeast Financial.

Thanks,

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
[email protected]
860-876-0572

NMLS#117273 

Residential Clients: Click Here For Application