Are you thinking about getting a commercial real estate loan? Whether you are a small business owner or looking to invest in a rental property, getting a commercial loan is likely much different than the experience of getting a residential home loan.
Investing in commercial real estate, whether it is an office building, retail space, industrial property, or multi-family residential dwelling, is an avenue that may offer significant financial growth opportunities.
That is where a trusted team of commercial mortgage brokers like Penn Street Mortgage comes in. You want to ensure you are making a smart financial decision and have a trusted partner in the loan process.
Here are a few things to keep in mind as you prepare to take on a commercial mortgage.
Why Invest in Commercial Real Estate?
Commercial properties can offer long-term returns that can outperform any investment into residential properties, thanks to their large income streams and the potential for your property to appreciate in value.
Some reasons you might be thinking of getting a commercial mortgage include:
- Income Potential: Commercial properties typically get a higher annual return on the original purchase price than single-family homes.
- Long-term Leases: Commercial leases are usually longer than those of residential units, providing a more extended, more predictable income stream.
- Low Occurrence of Vacancies: With longer leases, vacated commercial spaces can be offset by ongoing rent from other leased units within the property.
Whatever reason you want to explore commercial loans, having a good commercial mortgage broker can make all the difference in your experience.
A Straightforward Commercial Mortgage Process
While getting a commercial loan is daunting, it can help to break it down to an easy step-by-step process that we will help you navigate.
- Understand Your Business: Before reaching out or suggesting commercial lenders, we will get to know you and your business goals and needs. We will do an initial underwriting of your application before bringing it to business loan brokers.
- Gather Information: When it is time to apply for your commercial loan, Penn Street will help organize and gather all necessary paperwork and financial statements for a smooth transaction.
- Match with the Right Lender: With partnerships across multiple lenders, one of our experienced mortgage brokers will help you find the most suitable commercial loan program to fit your needs.
- Submit Your Application: Next, we will help you create a put-together and complete application packet so you can present yourself to financial institutions in the best possible light. Trust us to assist you every step of the way.
- Negotiation: Instead of the client negotiating with the lenders, we will help negotiate on your behalf to get the best possible financing option.
- Close and Grow Your Business: The relationship with Penn Street Mortgage does not end with closing your commercial loan. We believe in long-term relationships and are here to help you grow your business even after the deal closes!
At the end of the day, we are your partner in the entire commercial property process. From the application process to negotiating your loan term, you can count on us every step of the way.
Benefits of Working With a Commercial Mortgage Broker
Applying for a commercial mortgage can seem overwhelming, with lots of paperwork and strict requirements in order to get your approval. But do not worry — Penn Street Mortgage’s team of commercial mortgage brokers is here to help you every step of the way.
Working with a commercial mortgage broker can provide you with numerous benefits, such as:
Faster Approval Process
Working with a commercial mortgage broker like Penn Street Mortgage can speed up your loan approval process, ensuring you get the best loan terms possible and competitive interest rates. Our well-established networks with credit unions, commercial banks, investment banks and other financial institutions means we can negotiate the best terms on your behalf and get your loan application approved as quickly as possible.
Time is money when it comes to commercial mortgages, and moving fast can make all the difference.
Minimizing Your Financial Stress
Working with a commercial mortgage broker saves more than just time – it also alleviates the financial pressure. Every mortgage broker on our team is committed to getting you the most competitive loan terms, ensuring you pay the least amount possible in interest over the life of your mortgage. When establishing your commercial real estate loan, this kind of financial optimization can significantly impact your overall return on investment.
Presenting All of Your Loan Options
There are several financing options available for commercial real estate loans, and it is important to choose the one that fits your current needs as well as your long-term goals. When you work with Penn Street Mortgage, you will work with an expert commercial loan broker who can use their expertise to guide you toward the option that is best suited to your investment goals and budget. A traditional commercial lender cannot do that!
The Penn Street Mortgage Difference
Penn Street Mortgage takes pride in being more than an average commercial mortgage broker. Our end goal is to simplify your overall commercial financing process by giving you practical advice that speaks directly to you and your investment. You deserve a local expert who uses everyday language to help you understand commercial loans and always puts your needs first in the decision-making process.
Reach out to our team of commercial mortgage brokers for your commercial real estate loans!
When it comes to making a major decision like getting a commercial property financed, who you work with matters. That is why we have been trusted for decades by business owners across Chester County and beyond.
Connect with us today, and let’s help you secure your perfect commercial real estate property.