Warehouse loans are commercial loans that are specifically designed to finance industrial activities. Financial institutions give our warehouse mortgages in various scenarios. Some of them include cash-out refinance, acquisition, development and even purchase. It is one of the products that you can get from Commercial Real Estate Loan Pros of St. Petersburg.
There are different types of warehouses and all of them can be covered with this kind of loan. The list comprises wholesale distribution centers, retail warehouses, railway warehouses, cold storage warehouses, and light industrial warehouses. If you are a borrower, you can get mortgage financing for warehouse loans. The product has a 10 percent cash-out and down refinancing available for the purposes of expansion. This can also go up to 100% LTC.
You can acquire warehouse loans very fast with LTVs of 50 to 75 percent. You can get this loan if you are in the process of building a new warehouse facility. Several lenders offer these loans in St. Petersburg Florida. However, Commercial Real Estate Loan Pros of St. Petersburg has the best terms of borrowing. You can use warehouse loans for remodeling and rehab, building or construction of a warehouse, development, and acquisition, refinancing to get some cash out of the property, and purchase.
Types of Warehouse Loans
The main types of warehouse loans include:
- USDA B & I
- Equity only short-term bridge loan
- Non-stabilized and stabilized properties
- Construction loan
- SBA 504
- Funding within 5 to 7 days after the LOI
- Rehab or remodel
- SBA 7 (a)
- 25-year amortization and 7-year warranty
- Full documentation SBA of up to 150 percent LT
- 75& LTV that start at 8 percent, closing in five days
- Stated income, light doc of up to 75 percent LTV
- 65 percent LTV, three-year term, no prepayment penalty, no credit score
- Conventional financing of up to 85 percent LTV
- 80,000 dollars to 20,000,000 dollars
- Bridge Loan
How to Get Warehouse Financing
Hard money lenders, credit unions, banks, and even private lenders give out warehouse financing. However, the best place to go for warehouse loans in Commercial Real Estate Loan Pros of St. Petersburg. The lender may require the borrower to submit full information about himself and the property. The lender will appraise your capacity in order to give you the lowest rates. If you want your warehouse loan to close quickly, go for the low or no-documentation loans. The LTVs of these loans are approximately 55 to 65 percent and they close within two weeks.
In most cases, warehouse financing takes the 1st position. However, some financial institutions offer 2nd mortgages to help borrowers get capital to help improve the property through landscaping, remodels, expansion, and landscaping. If you are not sure of what you need to do, you can get a commercial loan broker to help you out. Lenders are more than willing to discuss this financing option with you. Several lenders offer this type of loan in St. Petersburg, Florida. However, you can be sure of getting the best deals in warehouse loans by turning to us for help.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.