Have questions about getting your first commercial real estate loan?
It can be hard to navigate the commercial real estate world your first time around. Especially when there are many different types of loans and programs available.
Generally, a first time borrower’s first instinct is to meet with their banks to seek out commercial real estate funding. These loans can carry lower interest rates but tend to be difficult to get and require higher down-payments and more documentation.
After speaking to the bank, and having heard of hard money lenders, a borrower might seek out a hard money loan – only to discover they carry very high interest rates and much shorter terms. While hard money can be suitable for experienced house flippers, a first time borrower will likely want a bit more flexibility in terms of repayment length and interest rate.
This is where Propel Real Estate Capital steps in. Our loan programs have longer terms and lower interest rates than hard money loans – and Propel has an easier approval process than a traditional bank loan. Read our helpful First Time Borrower Guide to get acquainted with commercial real estate lending. For more information on our lending programs, contact us at (855) 202-3726 or fill out the form to the right and one of our loan officers will contact you shortly.