Commercial Loans, Denver
Tri-State Mortgage has closed on several types of commercial real estate property loans in Denver.
Types of Commercial Loans
We know that our Denver community is made up of all types of businesses. We have a solution for your business too. We work with private investors, insurance companies, and banks that fund our Denver commercial loans. Most of these loans require full income documentation and information about the property. Our knowledgeable loan agents can help you through this process.
Here are some of the type of loans that we look at:
Multi-Family 5-250 units
Self-service car washes
Construction loans - Commercial and spec homes
If you are looking for a commercial loan from $150,000 to $25,000,000 we can help. Our rates and programs vary from property to borrower creditworthiness. Rates and terms are decided by the LTV, borrower, income, and credit. All borrowers must have an exclusive agreement with Tri-State Mortgage for us to look at the loan.
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Frequently Asked Questions
How Do Commercial Loans Work?
Commercial loans are mortgage loans that are secured by liens on the commercial real estate property rather than a residential property. Commercial loans help you pay the sky-high price tags that come attached to a new business property.
What are commercial loans used for?
A commercial loan is typically used to fund major capital expenditures and/or operational costs of a commercial real estate property that a business owner may otherwise be unable to afford.
How much do you have to put down on a commercial loan?
Most licensed lenders will require you to make a minimum down payment of 20% – 30% of the purchase price of the property.
How Long to Process Commercial Loans?
Typically, it takes three to six weeks to close a commercial loan. However, this timeframe can vary depending on the lender, the loan amount, and the financial situation of the borrower.
How hard it is to get a Commercial Loan?
Small businesses are usually required to occupy at least 51% of the building in order to get qualified for a commercial loan. However, the creditworthiness of the borrowers also plays a major role in the approval process.