Best Commercial Real Estate Loans in West Park, FL
In case you’re asking where you can get the best commercial real estate loans here in West Park, Florida, there’s no question that it’s with us here at Florida Commercial Real Estate Loan Group.
We have been running as the most trusted and the most sought-after financer of commercial real estate properties in and around West Park and the county of Broward.
For many years, we’ve gone through a lot of adjustments but here we are now, at the top of the industry’s ladder, ready and prepared to give you the funding that you need for your commercial real estate property.
Banks vs. Commercial Real Estate Loan Groups
A lot of people ask why they don’t just get a commercial real estate loan from a bank. Well, to answer that simply, it’s because of the fact that banks don’t usually have the speed and the urgency that real estate loan groups do.
In fact, here are a couple of points you need to consider if you have questions about which financial institution to go with.
Pros and Cons of Banks
Some of the most common advantages that banks have that commercial real estate loan groups do not have include, but are not limited to:
- Good and considerably low-interest rates
- Long-term financing options and choices for commercial real estate
On the other hand, there are also some of the drawbacks and the cons of trusting a bank with the funds you need:
- Solely for borrowers with an excellent-to-perfect credit standing
- The process is slow – approval happens in months
- They ask for a ton of documentation and requirements
- Moderately high closing fees
As you can see, from a business perspective, banks wouldn’t be the best choice. Although they offer the lowest rates on a principal loan amount, they move slow and they ask for a lot of things. In the business world, time is gold, and every bit of your time is important.
For real estate loan groups like us here at Florida Commercial Real Estate Loan Group, on the other hand, here are a couple of points to consider.
Pros and Cons of Commercial Real Estate Loan Groups
Pros: The most customary advantages include:
- Fewer and much more considerate underwriting standards
- Lower closing costs and fees
- Fast approval (within a month)
- Does not care much about credit scores and ratings of borrowers
The pros look promising because it is! And even though the following cons might seem too much, you’ll easily be able to realize that the pros outweigh the cons.
- Loan-to-Value or LTV usually capped at 70 to 75 percent
- Usual terms are short but are flexible
- Some look for a balloon payment within 6 to 12 years
Florida Commercial Real Estate Loan Group’s commercial real estate loans are better than commercial lenders’ but are not as good as banks.
We fall just right in the middle and we’re more than happy that we are able to help our clients with their funding.
Call us now and get a free quotation!
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: