Mixed-use Commercial Mortgage Loans
Commercial real estate that offers a shop, office or other commercial use in one or more units and an apartment or living space in other units is considered a mixed-use property. Because of this, obtaining loans and financing is a little different than going strictly after a small business loan or home loan. Mixed-use commercial mortgage loans offer consumers a variety of flexible financing options that address all types of scenarios and needs.
One of the benefits of mixed-use commercial property lending is low and, often, no points. Griffin Capital offers different types of commercial mortgage loans for these types of property such as low document loans, loan document, as well as stated income loans. In most cases, large balance of loans, ranging from $ 1,000,000 – $ 7500000, we will set the terms, as well as commercial mortgage terms of 25 and 30 years. Various types of security and cost are available to ask which set different terms.
Small balance mixed-use commercial mortgage loan are generally considered to be the size from $ 250,000 – $ 1,000,000. As with more balanced mixed-use commercial mortgage loans, the rate and cost guarantees are available as are commercial mortgages of up to 25 years.
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Due to the residential subprime disaster the commercial secondary market was greatly affected with a cataclysmic 98% drop in issuances from 2007 to 2008; i.e. the entire market basically died. 2009 did no better than 2008 with virtually no activity. 2010 has seen a slight increase in activity which many industry professionals are clinging to, as a sign that we have rounded the corner and have truly begun to recovery from the worst credit crisis since the Great Depression.
Tags: commercial mortgage backed securities, commercial mortgages, creative loan programs, goldman sachs, mortgage backed securities