These are the types of financing services for which you need to give up your assets as a collateral. Different lenders classifications are available such as A lenders, B lenders, C/Private Lenders. Each and every lender primarily varies from another in the following parameters. LTV percentage, Annual interest rate percentage, Duration of terms and Duration of amortization.
Commercial Industrial Residential Building Mortgages Through our Licensed Partners
Typically the main differences between the 3 types of mortgages are a follow; Residential mortgages have the cheapest interest rate LTV up to 95 percent with an amortization term of up to 35 years, Commercial and industrial if owners occupied by at least 50 percent and there are mortgages available with LTV of up to 115 percent with slightly higher interest rates than residential mortgages and slightly lower amortization period while the term period is usually the same.
Commercial Industrial Residential Land Mortgages Through our Licensed Partners
Regardless of the type of the real state, as long as environmental reports are clear, there are always financing available of up to 50 percent for the land of its market value. Such a type of financing typically is more expensive than the average and shorter in its term and amortization. The typical reason for the above is only because the common use for the land financing is usually used as a bridge prior to construction. Unless the land will be used for a long term as a parking lot, such type of financing should be always considered for its affordability.
Commercial Industrial Construction Mortgages Through our Licensed Partners
Any type of construction project requires to cover land cost, development cost, and construction cost, and an occupancy maintenance. Construction costs in Commercial/industrial projects are financeable up to 70 percent per phase and upon completion of the construction once certificate of occupancy is granted the whole project can be refinanced at institutional rate with maximum LTV of 85%.
Residential Mortgages Through our Licensed Partners
Every typical residential construction project is comprised of four stages; Excavation foundation, Framing and roofing, Electrical/Plumbing and Interior finishes, and Certificate of Occupancy. Construction will be financed according to preliminary construction budget. Each phase completion/validation which will be financed up to 80 percent loan to value. Upon receipt of Certificate of Occupancy, the entire assets can be refinanced with institutional lender up to 95 percent from the market value.
Large Equipment Loans
Heavy Equipment can be financed as a loan, based on the cash flow capacity of the existing operation and also can be financed under Government loan if the business is a complete startup. Also the equipment can be financed under a leasing program if there is such a requirement by the business operator.