Commercial Financing In New York
Commercial Financing of a property has generally been considered a safe bet when it came to real estate investing. Apartment buildings, Condos, shopping centers and more have usually gone up in value with minimal upkeep required by the buyers.The commercial Financing that were issued in the recent past required the principle to be paid as the loan matured, which is when it comes time to refinance commercial mortgages using our mortgage company Centex Capital. Mortgages in New York can be complex enough without the commercial element in the mix. Once you add that to the equation the process can be very complicated.
Rules and requirements have changed since the housing crises and mortgages in New York may not be as easy to come by as they once were. We will advise the borrower as to what paperwork, proof of income and property value will be needed to refinance their commercial mortgage.
We at Centex Capital have the trained professional staff to assist all mortgage seekers, whether to refinance or to purchase, and will help make the process run smoothly. Keeping up with all the changes in the lending policies happening all over the country as an investor is nearly impossible, which is why mortgage brokers are a necessary tool to be used.
The value and income produced from the property is very important when it comes to refinancing and may have to be documented by separate, independent experts. The surrounding properties may also be taken into account, as well as the condition of the neighborhood the property is in.
There are many factors that go into a lender’s decision to approve or deny refinancing of commercial mortgages and it is nearly impossible to know what they all may be. Using us as a mortgage broker can ensure the best options since we deal with many lenders and can negotiate the best contract for the borrower.