Real estate prices have been at a steady increase in recent years, and that also includes commercial properties. The ability to own your commercial business property can have a number of benefits including equity building, additional revenue from other tenants, tax benefits, the ability to renovate as your business grows and more.
If you're a business owner who is expanding to a new location, or improving or refinancing your current property, you can benefit from our owner-occupied real estate program. Owner-Occupied program specifics include:
- Long-term financing with up to 25-year amortization
- Fixed rates available for 5 years and 10 years
- You must occupy more than 50% of the new space
- Loans are subject to standard underwriting, processing and documentation requirements
LOAN |
STRUCTURE |
| Minimum Amount | $100,000 |
| Maximum Amount | $4,500,000 |
| Interest Rate & Maturity Option 1 | WSJ Prime minus 0.26% with a maximum maturity of 3 years |
| Interest Rate & Maturity Option 2 | WSJ Prime with a maximum maturity of 5 years |
| Interest Rate & Maturity Option 3 | WSJ Prime plus 0.50% with a maximum maturity of 10 years |
| Amortization | Up to 25 years |
| Maximum LTV | The lessor of 80% LTV OR 85% LTC |
| Fees | 0.50% origination |
| Prepayment | 3 year maturity – 3, 2, 1 5 year maturity – 5, 4, 3, 2, 1 10 year maturity – 7, 6, 5, 4, 3, 2, 1 |
You can apply online, or reach out to one of our Commercial Banking experts who will be happy to answer any questions you might have.
