Commercial Construction Loans Fund Your Latest Investment
Are you interested in commercial financing for the construction of new property? Commercial construction loans from Pacific Mortgage Exchange, Inc., provide flexible funding for newly built commercial and residential investment properties. We offer home competitive short-term financing rates for the new construction of apartment complexes, office space, storefront properties, and more. If you are interested in a commercial construction loan for property in Palm Desert, Palm Springs, San Bernardino, Riverside, or Coachella Valley, CA, we have the lending power you need. Contact us to schedule a consultation and receive the flexible financing you need to jumpstart a profitable investment.
Flexible Financing for All Types of Construction
Construction loans are available for residential properties and commercial investment properties. For our purposes today, we will discuss commercial construction loans. We offer construction financing for these and other types of commercial property:
- Office buildings, which are divided into classes A, B, and C
- Industrial buildings for manufacturing, warehouse use and more
- Retail buildings including standalone stores, retail centers and strip malls
- Multifamily unit homes like apartments
- Bowling alleys
- Nursing homes
- Motels and hotels
Each of these types of commercial property has unique construction requirements and potential roadblocks that can result in unexpected cost. Most construction loans are flexible enough to allow for additional costs or pay out on an as-needed basis during construction.
Construction Basics and Approval Tips
To finance a construction loan, you will likely need to complete two separate loans. The first is the true construction loan, which provides funding for the cost of land, development, and construction. These funds, as stated, can be dispersed as needed, on a predetermined schedule, or as certain stages of construction are completed. Once the building is complete, the construction loan is paid off through a long-term commercial mortgage. This mortgage functions much like a traditional commercial mortgage.
To get approval for commercial construction loans, lenders rely most heavily on the estimated value of the completed building and on its potential to earn profit. To improve your likelihood of securing a commercial construction loan, it is helpful to provide your business plan, projected earnings, and any other documentation that can support the potential profitability of the new property.
Securing Financing is the First Step
When you’re ready to learn more about commercial construction loans, Pacific Mortgage Exchange, Inc., is here. Once we gain a better understanding of your business, operations, and real-estate needs, we can offer more detailed information pertaining to your goals. We finance clients in Palm Desert, Palm Springs, San Bernardino, Riverside, and Coachella Valley, CA. Contact one of our mortgage professionals to get started today.