Commercial Mortgages
A Community Bank of Broward Business Commercial Mortgage may be appropriate if your business plan calls for the need to acquire commercial real estate to:
- Purchase a primary place of business
- Obtain certain tax benefits
- Refinance an existing mortgage
- Take advantage of commercial real estate market conditions
A commercial real estate mortgage is a long-term note secured by a first mortgage on the location you are purchasing.
The loan is generally written with a five-year maturity on a 20-year
amortization, with adjustable and fixed interest rates based on several index
options. Community Bank of Broward will normally finance up to 75% of the
property's appraised or purchased value for investor properties and up to 80% for owner-occupied properties. Types of properties normally considered good candidates for a commercial real estate loan are:
- Business offices
- Manufacturing facilities
- Warehouse facilities
- Professional offices
- Multi-use facilities
To qualify for Community Bank of Broward's Business Commercial Mortgage, your business should meet the following criteria:
- Show a business history of three years' duration
- Demonstrate sufficient cash flow to adequately meet debt service
- Ensure property meets environmental safety standards
Community Bank of Broward works closely with the Small Business Administration,
providing both packaging and underwriting for qualified borrowers who wish to
take advantage of federal loan guarantees under the SBA program guidelines. For
more information visit or call the
branch nearest you.
