What interest rate should I expect to pay on a commercial real estate loan in Florida?

Interest rates vary depending on several factors. In general, income producing and owner occupied properties have rates between 3.75% and 5%. Again, this is a generalization. To find out your specific rate,  contact DDA Mortgage. We can ask your specific questions and determine the best commercial loan type for you.

What type of loan programs do you have for a conventional commercial mortgage?

Loan programs can range from 5 to 10 years for fixed interest rates and no balloon payments. Amortization or interest only options are available with a 20 year term in rare circumstances. Eligible properties include multifamily, office, warehouse, self-storage, and mixed-use, retail and hotel property types. Eligibility may depend on your personal and business income determined by your tax returns. You will need to supply your tax returns for both yor business and your personal returns in most cases to verify income and eligibility.

The loan to value for investment properties is 70% and up to 80% for owner occupied properties. Loan ammounts can range from 100 thousand to 10 million dollars. These loans are full recourse loans. The debt is fully secured  and gives the lender rights to assets—beyond just the secured collateral specified in the loan contract. Tax and insurance escrows are not required on all loans, and foreign nationals must have a checking account in a US based bank and a social security number. Below is a overview at a glance.