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Financing for:
Commercial Real Estate
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IMPORTANT ADVICE ABOUT COMMERCIAL FINANCING

There is a theme that is repetitive throughout our web sites. It is refereed to on every page. Lenders are all different and they will all try to fit you into the loan products that they sell. That is why you need to consult with an independent mortgage company. We know what is available in the market. We can discuss your needs and goals and suggest what would be the best loan for you. Then we will place that loan with an appropriate lender and stay with you through the funding. We always represent the borrower, not the lender.

If you call a carpenter to fix something he will bring his hammer to hit a nail. It is the same with lenders. If you go to a large bank they will offer you a fixed rate loan for only 3 to 5 years or an adjustable for 10. They will want a personal guarantee and they will use their underwriting parameters to determine loan size. If you go to a community bank they will do something similar or they may want to squeeze you into an SBA program. You may go to a residential mortgage company that does not know the commercial market. You may wind up with a private lender and pay too high a rate or a CMBS lender that may not be the best product for you.

Do not try to do it yourself. You may fall onto the wrong loan for your needs. Our experience and knowledge are your strength. You would not do your own hart surgery. You would higher the best doctor that you can find. Do the same with your financial health. Talk to us, please.

THE BEST LOAN TO FIT YOUR NEEDS

First Charter Financial is a leading independent mortgage company. We are not affiliated with any one lender or real estate broker. We conduct our business on a nation wide basis. We are dedicated to arranging the best financing to meet the needs of our clients. We represent you the real estate investor, developer and owner. We do not sell you as a lead to another company.

We have maintained relationships in the financial markets for many years and we are well-known. First Charter Financial Corporation is licensed and bonded. We do not ask for any deposit or money up front. Our commissions are earned at loan funding. If we agree to represent you in obtaining financing we require that you sign an engagement letter up front.

COMMERCIAL PROPERTIES

Commercial real estate is used primarily for business, for investment and for producing income. Financing for this kind of property is totally different from financing for a home or other personal property.

There are four kinds of commercial real estate. Investment properties, those that have a small number of tenants who pay monthly rental and produce income for the investor who owns the property. For example an office building or a retail shopping center. Multi-tenant properties like apartment where there are a large number of similar leases producing income. Non-leased properties where a business is conducted in a special purpose property like a hotel. Last there are properties that are used in the operation of a business such as a manufacturing plant or a warehouse/distribution facility.

FINANCING COMMERCIAL REAL ESTATE

Each of the types of commercial property is financed differently and with different capital sources. The one factor that is common to all is that the stabilized cash flow available for debt service will control. It is the income of the property and not the credit of the owner that is the primary factor. Commercial lending is asset based and income based. The borrower is secondary. Often investors confuse borrowing against a property as opposed to borrowing against a personal credit line with the property as secondary.

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MINIMUM LOAN SIZE IS $1 MILLION

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SOURCES OF FINANCING

Above I said that there were four categories of commercial property. Each is financed differently. Shopping centers and similar properties, depending on size will go to CMBS lenders, insurance companies and banks. Multi family properties often go to government agency sources, banks, insurance and CMBS. Hotels are often candidates for SBA and CMBS. Properties used in a business may go to SBA, banks and sometimes to Credit Tenant Lease Financing credit sources. Also in the mix are private lenders and REIT funds.

There is no one simple answer. That is why our experience and knowledge is important to structure the best financing for your property.


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8204 East Del Caverna Drive, Scottsdale, AZ. 85258
info@fcfcorporation.com
AZ CMB-0922527
NMLS ID 181100
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