Recent Approvals from Select Commercial

Select Commercial’s Approvals This Week!

Here are examples of four loans that we approved this week.

If you are looking to lower your existing rate or need to take some cash out for any other purpose, please contact us before rates increase. Please call us at 877-548-9454 or fill out our Free Loan Request to see how we can help you.

 

Apartment – Retail – Refinance
Chicago, IL
Loan Amount $4,000,000

Apartment Building Purchase
Oklahoma City, OK
Loan Amount $1,116,000

Industrial Building – Refinance
Beckley, WV
Loan Amount $1,650,000

Mobile Home Park – Purchase
Woodbine, MD
Loan Amount $1,612,500

Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

Here are some of the loan types Select Commercial can help you with:

  • Office Building Loans – multi-tenant or single tenant, owner occupied or investor
  • Retail Building Loans – shopping centers, retail strip centers, or individual stores
  • Industrial Property Loans – warehouses, distribution centers, manufacturing facilities
  • Bridge Loans – short term loans to overcome short term problems
  • Single/Special Use Loans – motels, gas stations, restaurants, etc.
  • Apartment Building Loans – garden apartments, high-rises, cooperatives, etc.
  • Investment Property Loans – any income producing property


About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.

Using a Commercial Mortgage Calculator and How Lenders Determine Commercial Mortgage Rates

A commercial mortgage calculator is a very handy tool when shopping for a commercial mortgage loan. Whether you are purchasing a new investment property or refinancing an existing commercial mortgage, it is helpful to know how much of a loan you can afford at today’s rates. A commercial mortgage calculator will calculate your new monthly payment. You will be asked to enter the loan amount, number of years, and interest rate. The calculator will calculate your monthly payment for you.

To access Select Commercial’s calculator, please click here.

Many borrowers ask us how commercial mortgage lenders determine rates that they offer commercial mortgage requests. There are many criteria that lenders use when determining rates, but lenders will assess the relative risk of a loan when determining the rate they offer. The lower the risk, the lower the rate. The higher the risk, the higher the rate. It is important to know what factors lenders use when determining relative risk.
– Property location and market. Good quality properties in large metropolitan and suburban areas are considered lower risk than inferior properties and properties in small rural locations.

– Tenant mix. Multi-tenanted properties with good quality tenants and long-term leases are very desirable when financing office and retail properties.

– Stabilized occupancy. Lenders look for properties that have enjoyed high occupancy levels with minimal disruption for the last 2 to 3 years. Properties with vacancies and fluctuating rental histories are considered higher risk.

– Property Condition. Properties in good condition with little deferred maintenance are considered lower risk than properties in need of major capital improvements.

– Leverage. Loan-to-Value is very important in determining risk. A 50% LTV loan will price better than a loan at 80% LTV.

– Borrower Qualifications. Lenders look closely at a borrower or guarantor’s net worth, liquidity, cash flow, credit history and real estate experience in determining overall risk.

If you have a specific transaction that you would like to discuss, please call us at 1-877-548-9454 or click here for a free quote.

Commercial mortgage loans that Select Commercial is actively closing….

Select Commercial, a nationwide leader in commercial mortgage loans and apartment building lending, is pleased to announce that we are actively lending and closing loans. Some of our loan programs are as follows:
Commercial mortgage loans

Apartment building loans
– We are actively lending from $750,000 and up on all types of apartment buildings.

 

Owner occupied real estate – Business owners who own their property or are looking to acquire a business property are finding great rates at Select Commercial with LTV ratios up to 90% (and maybe even higher!)

Commercial mortgage loans – Multitenant and investor properties, including office, retail, warehouse, industrial and self-storage.

Special use properties – We are not afraid of motels, gas stations, bowling alleys, and other special use properties that many lenders shy away from.

Properties that are not fully rented – We have many programs geared towards owners of properties where the property is not currently stabilized due to vacancies or those in need of tenant improvements.

Credit/income problems – We do not automatically reject applicants due to credit or income which is less than perfect. If the deal otherwise make sense, we will look past temporary setbacks.

About Select Commercial
Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage loans for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.


About Our President, Stephen A. Sobin
Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage loans to his clients nationwide.

Selectcommercial.com Funds $3,116,000 Florida Apartment Building Loan Located in Bradenton, FL

Selectcommercial.com Funds $3,116,000 Florida Apartment Building Loan Located in Bradenton, FL

Selectcommercial.com announced on Wednesday, May 21st, 2014 the refinancing of a $3,116,000, 84 unit apartment building located in Bradenton, Florida. The borrower received a 5 year fixed rate loan with a 10 year term and a 25 year amortization. This allowed the borrower to pay off a high rate loan and lock in a low fixed rate.

About Select Commercial
Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

Here are some of the loan types Select Commercial can help you with:

  • Office Building Loans – multi-tenant or single tenant, owner occupied or investor
  • Retail Building Loans – shopping centers, retail strip centers, or individual stores
  • Industrial Property Loans – warehouses, distribution centers, manufacturing facilities
  • Bridge Loans – short term loans to overcome short term problems
  • Single/Special Use Loans – motels, gas stations, restaurants, etc.
  • Apartment Building Loans – garden apartments, high-rises, cooperatives, etc.
  • Investment Property Loans – any income producing property


About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.

 

Select Commercial Nor Providing Small Business Property Loans To Owners Who Own Their Own Properties

Select Commercial is now providing small business property loans to owners who own their own properties.  Many small business owners find that they have trouble obtaining traditional bank loans due to their company’s size, specialized property type, credit rating, or difficulty producing tax returns.  In addition, if you are starting up a new business or expanding an existing business, it may be possible for us to use projection based income in order to qualify.  Traditional banks can’t match the ability we have to “stretch the guidelines” to help your business grow.  These loans have always been a large portion of our business.  We actively lend on gas stations, restaurants, hotels and motels, bed and breakfasts, laundromats, service stations, bowling alleys, movie theaters, golf courses, marinas, retail stores, independent groceries, franchises, auto repair, manufacturing plants, liquor stores, health clubs, self-storage, mini-storage, parking garages, campgrounds, recreational facilities, RV parks, and many other single purpose properties.  Let us help you start, purchase, refinance or grow your business!  Our minimum loan size is $750,000.

Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.

Selectcommercial.com Funds $1,040,000 CA Apartment Building Loan

Selectcommercial.com announced on Thursday, February 6th, 2014, that it originated a $1,040,000 CA apartment building loan for the refinance of an apartment building located in Santa Cruz, CA.

About Select Commercial
Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

Here are some of the loan types Select Commercial can help you with:

  • Office Building Loans – multi-tenant or single tenant, owner occupied or investor
  • Retail Building Loans – shopping centers, retail strip centers, or individual stores
  • Industrial Property Loans – warehouses, distribution centers, manufacturing facilities
  • Bridge Loans – short term loans to overcome short term problems
  • Single/Special Use Loans – motels, gas stations, restaurants, etc.
  • Apartment Building Loans – garden apartments, high-rises, cooperatives, etc.
  • Investment Property Loans – any income producing property


About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.

It Looks Like 2014 Will Be Another Strong Year for TX Commercial Real Estate Loans

It looks like 2014 will be another strong year for TX commercial real estate loans. Texas continues to show strong growth for commercial real estate developers and investors.  “I think the market is amazing,” said Segal, CEO of Houston-based Boxer Property, which owns almost 6 million square feet of North Texas office space. “I hope to make many more acquisitions in the Dallas Fort Worth area in 2014, if the deals persist,” Segal says. “It’s getting harder all over the metroplex.”

Texas’ booming economy has pushed Dallas-Fort Worth’s commercial real estate market to the highest point in almost two decades.

Office, retail and industrial vacancies are below where they were at before the recession. “We’ve never been as positive about a year as we are about 2014,” said Denton Walker, Trammell Crow senior managing director. “We think 2014 will be a breakout year for us in retail, office and industrial real estate.”

Growth in North Texas seems to be almost a certainty, because nearly 3 million square feet of office real estate in Dallas-Fort Worth was obtained in 2013, according to Jones Lang LaSalle’s end-of-year research.

Dallas-Fort Worth had a net job growth of 96,000 positions year-over-year, which coupled with the lack of new construction in the market has led to a much healthier market, Daryl Mullin, senior vice president of Jones Lang LaSalle told the Dallas Business Journal.

Investors looking for Apartment Building Loans, Commercial Mortgages and Business Real Estate Loans should look no further than Select Commercial. They offer loan quotes within 24 hours with NO cost, NO obligation, and NO upfront application fees. They can be reached at 877-548-9454 or you can Click Here to fill out a free loan request.

Selectcommercial.com Funds $1,100,000 IN Commercial Mortgage Loan

Selectcommercial.com announced on Thursday, January 8th, 2014, a IN Commercial Mortgage Loan in the amount of $1,100,000 for a FedEx/Kinko’s property located in Indianapolis, Indiana. The borrower received a 10 year fixed rate loan and a 25 year term and amortization. This allowed the borrower to pay off a high rate loan and lock in a long term fixed rate.

About Select Commercial
Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

Here are some of the loan types Select Commercial can help you with:

  • Office Building Loans – multi-tenant or single tenant, owner occupied or investor
  • Retail Building Loans – shopping centers, retail strip centers, or individual stores
  • Industrial Property Loans – warehouses, distribution centers, manufacturing facilities
  • Bridge Loans – short term loans to overcome short term problems
  • Single/Special Use Loans – motels, gas stations, restaurants, etc.
  • Apartment Building Loans – garden apartments, high-rises, cooperatives, etc.
  • Investment Property Loans – any income producing property


About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.

 

Selectcommercial.com Funds Three Commercial Mortgage Loans Totaling $3,268,000

Selectcommercial.com Funds Three Commercial Mortgage Loans Totaling $3,268,000.

Selectcommercial.com announced on Monday, November 25th, 2013, that it originated three loans totaling $3,268,000 loan for the refinance of self storage units located in Ellijay GA, Laurinburg NC and Havelock NC.

The borrower received 25 year loan terms and amortizations with rates fixed for five years. This allowed the borrower to lower his rate, lower his monthly payments, obtain fixed rates and access working capital.

About Select Commercial
Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

Here are some of the loan types Select Commercial can help you with:

  • Office Building Loans – multi-tenant or single tenant, owner occupied or investor
  • Retail Building Loans – shopping centers, retail strip centers, or individual stores
  • Industrial Property Loans – warehouses, distribution centers, manufacturing facilities
  • Bridge Loans – short term loans to overcome short term problems
  • Single/Special Use Loans – motels, gas stations, restaurants, etc.
  • Apartment Building Loans – garden apartments, high-rises, cooperatives, etc.
  • Investment Property Loans – any income producing property


About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.

 

Select Commercial Helps Their Clients get the Lowest Commercial Mortgage Rates Available

Select Commercial is able to secure the lowest commercial mortgage rates for its clients due to its vast portfolio of active lenders. “Each loan is different” says Stephen A. Sobin, President of Select Commercial. “Some of our borrowers have great credit scores with large down payments, while others have some credit or income problems that require a lender comfortable lending to borrowers who may not qualify at their local bank.  What we try to do is match up the best lender for each client.  This is a  major advantage over dealing with the local bank that can only offer one or two loan programs”, says Stephen.

If you are trying to get the best commercial mortgage rates and terms for your commercial property, you may want to consider going with a company that has a multitude of lenders that can accommodate many different loan scenarios. With over 20 years of commercial mortgage experience, Select Commercial and Stephen Sobin can help educate you on your best commercial mortgage financing options.

About Select Commercial
Select Commercial offers a very simplified application process with no upfront application fees and no processing fees. We will discuss you loan request with you during our initial phone conversation and have you provide some basic information about the property and the borrower. Written pre-approvals are generally provided within 24 hours with no absolutely cost or obligation. We always offer professional service with excellent rates and terms.

Select Commercial is focused on providing the best commercial mortgage financing solutions for each client’s needs. All details of the commercial mortgage lending process are meticulously managed from the beginning of the loan process to closing. We’ve worked hard to earn the reputation we’ve established with our clients and continue to look for ways to improve our service. We advise each individual client and try to find the perfect solution for his or her needs. How do we find the perfect solution?  We identify and screen lenders that best suit the needs of the client and ensure their ability to close on the terms provided.

Here are some of the loan types Select Commercial can help you with:

  • Office Building Loans – multi-tenant or single tenant, owner occupied or investor
  • Retail Building Loans – shopping centers, retail strip centers, or individual stores
  • Industrial Property Loans – warehouses, distribution centers, manufacturing facilities
  • Bridge Loans – short term loans to overcome short term problems
  • Single/Special Use Loans – motels, gas stations, restaurants, etc.
  • Apartment Building Loans – garden apartments, high-rises, cooperatives, etc.
  • Investment Property Loans – any income producing property


About Our President, Stephen A. Sobin

Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC.  Mr. Sobin has over 30 years’ experience in mortgage lending.  Mr. Sobin is the past president of the mortgage lending division of a federally chartered Federal Savings Bank. He founded Select Commercial to provide commercial mortgage advisory services to his clients nationwide.