Finding the right business loan doesn’t have to be difficult with commercial mortgages in New York.
Are you looking to fund a commercial property deal? Whether it’s an office, retail outlet, warehouse, hotel, or otherwise, we will be able to find the right commercial mortgage that fits with your business plan. It’s no secret that small businesses are on the rise. More entrepreneurs are taking a leap of faith to start their own business that they’re passionate about. When looking to purchase real estate for your business, it is likely that you will need a loan. If you’re looking to take that leap, be sure to secure the right commercial mortgage in New York that suits your needs and goals.
There are two types of commercial mortgages available for real estate:
- Owner-occupied commercial mortgage: Typically, the real estate is used by a small business for its own operations purposes. However, that doesn’t mean that owner-occupied business real estate can’t be income producing from the income it receives from tenants. For this type of commercial mortgage, the owner of the property will have his or her business occupying at least 51 percent of the available space in the building.
- Investment commercial mortgage: For this type of commercial mortgage, the majority of the commercial property is used to lease to tenants as the driver of cash-flow. The condition of the property, geographic area, and net operating income (NOI) are considered by the lenders.
Whether you are looking to purchase or refinance a commercial mortgage, we can help. Our well-seasoned staff members have the knowledge and expertise to help you with the financing needed for stabilized properties, purchases or development of investment properties. We work with real estate owners across New York to provide reliable commercial mortgages with a variety of options to suit every business owner.
A Northeastern Group lender can help explain your commercial mortgage options and help customize a commercial mortgage that’s right for you. Serving New York and beyond, contact us today to get started.