Commercial property loans are a fantastic option because this type of loan allows you to capitalise on commercial and investment opportunities.
There is little information online, and often it might seem a little confusing or vague. It’s often difficult to find exactly what you need to know to even make a commercial property loan inquiry. Important policy terms and interest rates are not often found on lender websites.
That’s where Summit Financial Partners can assist. We’ll help you in finding the best terms and conditions for your commercial mortgage. Irrespective of your loan type, your approval depends on a few things. More often than not, it entails showing that you have the means to repay the loan. Here are a few options to help you make sure that you are able to access the best commercial mortgage loans and products:
- Full doc loans are like the standard loan application where you provide full financial statements as per typical application.
- Lease doc needs you to prove your income from the respect property lease will generate enough income to go beyond paying the interest repayments.
- Low doc options mean that you need to provide partial income evidence of your financial statements, such as statements from your accountant or your BAS statements.
- No doc options mean that you don’t need actual evidence that can you afford to repay the debt.
- Forecasts of profit and loss are needed to ensure that within the foreseeable future you will be able to pay off the repayments.
If you’re curious about how your potential commercial property loans may vary or you’re interested in doing some of the maths yourself, check out our commercial mortgage calculator.
Seeing as there are many options and things to consider, we would recommend that you meet with us to discuss your requirements. We are able to find the most viable options from our commercial mortgage lenders to ensure that you have a streamlined, hassle-free experience.