Commercial Second Mortgages

New Commercial Second Mortgages give owners the option to tap their commercial equity with the added benefit of having a fixed rate.  This loan helps solve one of the biggest negatives in commercial property ownership, lack of liquidity.

Pull cash out of your property to use as down payment on another investment property, recapitalize your business, or use proceeds as capital to rehab a property – whatever you want.

This Commercial Second Mortgage can also be a viable option to a traditional cash out refinance.  If your existing first loan is solid, why go through the expense and time of refinancing it?  Especially when you can simply place a low cost commercial second on top?     

The process is highly simplified and does NOT require any upfront fees or third party fees that all other commercial loan programs demand.  No appraisal fee, no environmental report fee, no application fee, no title or escrow fees on this commercial 2nd loan.  Borrower literally has no cash into loan.  Only costs is an origination fee (ranging from 1 - 1.5%, see attached fee agreement), which is received out of the loan, at funding.

Another major benefit is the low documentation required.  No business or personal tax returns requested for owner occupants.  Lender typically just needs proof of insurance and a copy of your last mortgage payment.  For investors, you normally only need to provide copies of your Schedules E’s (last 2 years), proof of insurance, copy of leases and a copy of your last mortgage payment.  That’s it.  

Proof of no 3rd party fees - see an actual copy of Approval Letter.   

Commercial Second Mortgage Details:

• Fixed periods from 5 or 10 years with amortization schedule at either 25 or 30 years – you decide.
• Rate as low as 8.27%. 
• Loan goes up to $500,000 max.
• Loan sits in second lien position behind any lender/loan program.
• Letter of Intent/preapproval within 72 Hours.
• Closing typically takes 45 days.
• No financial reporting to Lender like typical bank loan requires.

Qualifying Parameters - what you need to know.

FAQ's  

Whatever your goal, whether it's to consolidate business debt, get cash to purchase another property, launch a new venture, or to take a long over due vacation, you can make it happen with a Commercial Second Mortgage. 

Call 248 990-7602 or click here to get started on your Commercial Second Mortgage.