What is a bridge loan? A bridge loan is a mortgage that “bridges” the gap between the expiration of a short-term loan and a more permanent mortgage. This type of financing is also known as gap funding and can apply to either residential or commercial properties. Borrowers often use this type of hard money loan […]
Can you get a home loan after bankruptcy or foreclosure? People who experienced a bankruptcy or foreclosure have a significant mark on their credit report that negatively impacts their credit-worthiness. As a result, borrowers who have been through an event like this typically have a more difficulty finding a lender that will offer them a […]
What is a blanket loan? A blanket loan is a single mortgage that uses multiple pieces of real estate as collateral. These types of loans are typically used by real estate investors or developers who are managing many properties in their portfolios. Blanket loans can make it easier for these borrowers to obtain financing as […]
What is an assisted-living facility loan? An assisted-living facility is a type of senior housing that is considered a commercial real estate asset because it produces income. Assisted-living facilities include group homes, nursing homes, continuing care communities and memory care centers. Commercial mortgages can be obtained to construct, purchase, refinance or take cash out of […]
Lenders offer warehouse mortgages for a variety of scenarios, such as purchase, acquisition and development, refinance, and cash-out refinance.
A loan to buy a vacant lot is a mortgage used to purchase or refinance either an improved or unimproved parcel of land.
Undeveloped land is often purchased by a business-purpose borrower with the intent to develop a commercial real estate asset.
This type of commercial mortgage also is known as a land acquisition loan or land development loan.
A stated-income mortgage is underwritten with the borrower’s income as the primary factor, but the income is stated and not verified in order to save time and money.
Financing for a self storage facility is a special-purpose type of commercial property loan pertaining to a facility that allows people to keep their personal belongings away from their primary residence.