Maryland Commercial Mortgage Loans
Maryland Commercial Mortgage Rates - Rates updated May 17th, 2021
|Loan Product||Rates (start as low as)||LTV|
|Multifamily Mortgage Rates (Over $6,000,000)||3.02%||Up to 80%||Get Free Quote|
|Multifamily Mortgage Rates (Under $6,000,000)||3.29%||Up to 80%||Get Free Quote|
|Single Tenant Lease Rates||3.52%||Up to 75%||Get Free Quote|
|Business Real Estate Loans||3.77%||Up to 90%||Get Free Quote|
|Commercial Mortgage Rates||3.77%||Up to 75%||Get Free Quote|
Select Commercial is a leading commercial real estate lender. We have excellent commercial mortgage loan products and options available for owners and purchasers of commercial real estate and multifamily buildings throughout the state of Maryland. While we lend across the entire continental United States, we are able to give our best rates and loan programs to certain areas that we feel are strong markets. Maryland is one of the states that we consider to be a premium market and we actively look to originate good quality loans here for our clients. We have a diverse array of many available loan products to help qualified MD borrowers looking to purchase or refinance a commercial property. If you are looking to obtain an multifamily building loan or commercial real estate loan, don't hesitate to contact us. There are many reasons why our customers like doing business with Select Commercial. We have a simplified application process and we do not charge any upfront application or processing fees. We typically offer 24-hour pre-approvals with no-cost and no-obligation. Our long term fixed rates are excellent, and we look to close within 45 days of application. Our staff is professional and knowledgeable, and we look forward to working with you on your next commercial mortgage transaction.
Maryland Commercial Mortgage Benefits
Maryland commercial mortgage rates start as low as 3.02% (as of 05/17/21)
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily , 75% on commercial (90% with SBA)
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation
Maryland Commercial Mortgage Loan Options
We arrange commercial mortgage financing in the state of Maryland for the following:
- Multifamily Loans – we actively lend on garden apartments, high-rise multifamily buildings, student housing complexes, underlying cooperatives, and all other types of residential dwellings. We consider loan requests up to 80% LTV. We offer loans with and without recourse (personal guarantees) and with and without prepayment penalties. We offer fixed rate loans with terms from 3 to 30 years.
- Office Building Loans – we lend on all types of office properties, including multi-tenant and single tenant buildings in all locations. We lend on both owner occupied and investor properties. We typically lend up to 75% LTV on investor properties and up to 90% on owner occupied properties. Most loans are written for either 5, 7, or 10 years at a fixed rate with a 25-year amortization.
- Retail Building Loans – we gladly consider requests for commercial mortgage loans on shopping centers, retail strip centers, and individual retail stores. We are a little bit more conservative on retail loans these days based on the current climate for retailers and will consider LTV ratios of 65%-75% depending on the deal. We actively lend on NNN single tenant retail locations such as Starbuck’s, CVS, Walgreens, Dollar General, and other national credit rated tenants.
- Industrial Property Loans – we love to lend on warehouses, distribution centers, manufacturing facilities and other industrial properties. Often, these properties are owner occupied by the owner’s business. We also lend on multi-tenant industrial properties as well. We look for properties in good locations with access to population centers and transportation.
- Single/Special Use Loans – we have a special lending division that understands small business lending secured by owner occupied businesses such as motels, gas stations, restaurants, car washes, retail stores, and other specialty properties. Many banks have a hard time with this type of lending as they often do not understand the underlying businesses.
- Investment Property Loans – any and all income producing property will be considered. We are cash flow driven lenders and look for properties that generate positive cash flow for their owners. We will consider portfolios of single family residences under this group.
- Bridge Loans – many borrowers do not qualify for regular institutional financing due to various short-term obstacles which need to be resolved before they can qualify for bank type financing. These borrowers often require short term loans, or bridge loans, to overcome these short-term problems.
Maryland Commercial Mortgage Information and Economic Overview
With a gross state product ranked in the top 15 in the country, Maryland is a great place for investors to procure commercial mortgage and multifamily financing. The average value of commercial real estate properties in Maryland is roughly $672,000 with a median sales price of almost $400,000. Over the last two years there have been about 45,600 commercial sales in the state; about 30,700 of them sold for more than $250,000, almost 7,100 were valued at over $1,000,000 and just over 1,100 were appraised at over $10,000,000. The average price per square foot of these commercial real estate properties in the state is $154 while the average lot size of these properties 21,947 square feet, 10% below the United States average. There are about 482,000 commercial real estate properties in Maryland, 196% below the country’s average, with a total acreage of almost 3.6 million acres. In terms of commercial mortgages, there are roughly 450,000 mortgages for commercial real estate properties throughout the state of Maryland. The average value of these commercial mortgages is about $5.6 million, 8% above the United States average. Thus, Maryland is a wonderful place for investors to receive commercial mortgage financing in order to break into the market.
Multifamily investors in the Maryland commercial real estate market should definitely look into apartment loans for buildings in Baltimore. Due to big employment gains in lucrative industries, Baltimore’s multifamily market is showing strengthened fundamentals throughout the second half of 2019. The average apartment rent in Baltimore was up 2.8 percent year-over-year through July, marking a big improvement from last year, when rates in the Lifestyle sector were diminishing. Furthermore, while 2018 was loaded with new development, absorption remained healthy and the occupancy rate in stabilized properties increased 40 basis points reaching 95 percent. The Baltimore economy gained 11,700, a 0.8 percent increase (about half the country’s rate of growth), with business, professional, health and education services compensating for losses across several other industries. Although Baltimore’s employment market is spotty, several multibillion-dollar projects are progressing. Some of these include Howard Hughes’ Merriweather District in Columbia, Sagamore’s $5.5 billion Port Covington and the nearly 3,100-acre Tradepoint Atlantic redevelopment in Sparrows Point. Both development and transactions decreased a bit in the first half of this year, with 704 multifamily apartment units delivered and less than $400 million in assets trading through July. With overall supply and demand fairly close to a stable balance, experts anticipate apartment rent growth to remain moderate throughout 2019. The Baltimore multifamily market provides a potentially lucrative landscape and those that want to take advantage should definitely take out an commercial mortgage and apartment loans to break into this space.