Commercial Property Loan Options

In order to successfully obtain a loan there is a certain level of documentation that is required to prove the borrower can sufficiently service the loan. There are four levels of commercial property loans which can be carried out; full doc commercial loans, lease doc commercial loans, low doc commercial loans and no doc private commercial loans, also known as an asset lend. Full doc commercial loans are for borrowers that can provide all the documents required to prove they can successfully repay the loan. Lease doc commercial loans are for borrowers that don’t make the full doc criteria but can provide documents such as rental income to repay the loan. Low doc commercial loans are for borrowers that cannot provide any of the above traditional documents but can obtain an accountants letter confirming they can repay the loan. A no doc private commercial loan is also known as an asset lend where the borrower has no documentation to repay the loan making the loan an asset lend against the property.  Commercial Property Loans are also available for the credit impaired.

When deciding on a commercial loan broker to facilitate your loan it is helpful to look out for a few key services which will make your process as smooth as possible. Fast turnaround times and tailor made solutions can be extremely beneficial if you require your loan to be approved in a timely and specific manner. If you don’t meet any of the high documentation levels required to prove you can repay the loan, an organisation that has access to non bank private lenders with a commercial view on loans would be most appropriate.

Commercial Property Loans

If you require some wriggle room within your loan then an organisation that caters for commercial loans with flexible servicing criteria, terms and conditions, and LVR’s would be advantageous for your situation. If money is tight and you require your loan to be based on the valuation of the property as opposed to the purchase price a loan facilitator with access to this as well as commercial loans with no annual reviews would suit your needs.

Ultimately, when deciding on a loan broker it is essential to find the people and organisation that you feel comfortable with and that suits you and your commercial property loan needs best.