Receiving A Commercial Mortgage Loan In Florida From NSH Mortgage
Do you currently own your own business, or you may be looking for some business investment properties? Buying buildings such as hotels, office buildings, and strip malls is way different than purchasing a house in Florida. NSH Mortgage has a special commercial finance department that will show you the steps to take when obtaining a commercial mortgage loan in Florida.
What Property Is Eligible For A Commercial Mortgage Loan In Florida
A commercial mortgage loan can be used to purchase, refinance, or redevelop a commercial property. These types of properties include the following:
- Shopping Centers
- Office Buildings
- Industrial Warehouses
- Multifamily Apartment Buildings
- Industrial Warehouses
These are the most common type of commercial properties in Florida, even though there are still many other types. If you have a building or parcel of land in mind that you are unsure could be commercial financed, give NSH Mortgage a call today at 800-360-3813.
Who Purchases A Property With A Commercial Mortgage Loan In Florida
A business entity rather than an individual person usually purchases commercial properties and buildings. This is due to tax purposes, ownership, and other factors that are very good to know when owning and running a business in Florida.
Commercial mortgage loans in Florida can be tailored by NSH Mortgage to fit your business, and the needs of you as the borrower. This includes the loan size, the mortgage term, and the amortization.
Common mortgage loans used for commercial purposes are shorter than a residential mortgage loan in Florida.
Commercial Property Movement In Tampa, Florida With Jeff Vinik
What Is Asked For When Applying For A Mortgage Loan In Florida
There are a few key things NSH Mortgage looks for when reviewing new commercial finance applications. The following are the common things we look at:
- Debt Service Coverage Ratio
- Past Commercial Real Estate Experience
- Credit History
- Loan To Cost, or Loan To Value
These are just a few common mortgage-related things we check into for credit worthiness when applying for commercial finance in Florida.
If you have other questions, such as what types of commercial loans we offer, you can either contact NSH Mortgage at 800-360-3813 or head over to our Commercial Finance In Florida page to learn more.