When you have questions regarding commercial loans in Calabasas, all you have to do is contact Sean Casey from Proline Mortgage.
How does a commercial loan differ from a residential mortgage?
The major difference here is that collateral will be used to secure a commercial is for a Business Real Estate or a Commercial Building rather than Residential Property. The loans in such a case will typically be taken out on the behalf of a business instead of being for an individual borrower. It is also going to be a much more complex mortgage when it comes to navigation, as it involves several factors that will be weighed out to determine just how credit worthy the borrowing business is.
You can trust Sean Casey to guide you throughout this entire process, and he will always make sure that you are able to remain focused on the two major factors of any commercial loan, which includes the interest rate and the loan repayment schedule.
How do commercial loan interest rates work?
The majority of commercial loans will be at a fixed rate, which means you have security in knowing that your payments will stay the same, even when the interest rates rise. However, there are some borrowers that will opt for a variable interest rate so that they can take advantage of the lower initial payments. This can be good for any new or established small business entities.
How do loan repayment schedules work?
A great deal of commercial loans will require a balloon payment at some point during the term of the loan. This is where, after making smaller monthly payments over a certain period of time, the borrower has to pay the remainder in one major sum. You can count on Sean Casey to help you navigate these waters to ensure your loan repayment schedule will always make sense for you and your business over the long term.
Talk to us today about the incredible opportunity in front of you to grow your business by taking out a commercial loan with Proline Mortgage. You will be guided through each step for a customized commercial mortgage that will work well for your business. Call us today at (805) 496-1199 to learn more.