Article Advise

submitted: Aug 9th 2008 | by: MathewsMcclain | Total views: 1 | Word Count: 585 | |

How can Castle Commercial Mortgage charge such high rates & fees? Sources of capital on real estate ventures are limited.Conventional lenders/banks tend to have many requirements which not everyone can meet: i.e. having 20% down; or a FICO score above 680. Other real estate deals need to close fast and conventional lenders/banks can take 30-60 days to approve and fund the loan. Castle Commercial Mortgage Co. typically will fund 24-48hrs after making a loan commitment.

How did Castle Commercial Mortgage Co. get into the lending business? About fifteen years ago in Steve Hickox law office, a client in the roofing business was finding his customers could not pay immediately for new roofs.We set up a lending arm to fund his roofing business, which made loans to the customer and take a small second mortgage on the property where the roof was installed. Later our client came back with plenty of business but not enough credit to fund all of the credit transactions.Castle Commercial Mortgage typically charges for a short-term (i.e. 6 months): 3% Origination Fee & 13% APR. The monthly payment is interest only with a balloon payment (entire principle amount with the accrued interest) due at the end of the term.

How long will it take for the funds to become available? Raising commercial finance can often be time consuming and, depending on how complicated your situation is, on average it can take anywhere from a few weeks to several months to complete the commercial mortgage process. However, complex cases can take much longer due to the number of variables involved.The amount of cash that is necessary depends on a number of items.

What are the benefits of a commercial mortgage? Aside from providing your business with a major asset that is likely to appreciate in value, a commercial mortgage offers a wide range of additional benefits. Depending on the terms of your mortgage contract, the repayments may be similar to your current rental payments, which means you won't have to budget for additional property expenditure or rental increases.It can be difficult for small businesses to raise enough capital for a deposit on commercial property so some lenders provide the option of a 100% commercial mortgage. To qualify for this option you will need to provide additional security, usually in the form of other commercial or residential property.Castle Commercial Mortgage typically charges for a short-term (i.e. 6 months): 3% Origination Fee & 13% APR.

How did Castle Commercial Mortgage Co. get into the lending business? About fifteen years ago in Steve Hickox law office, a client in the roofing business was finding his customers could not pay immediately for new roofs.We set up a lending arm to fund his roofing business, which made loans to the customer and take a small second mortgage on the property where the roof was installed. Later our client came back with plenty of business but not enough credit to fund all of the credit transactions.

I'm looking for a commercial mortgage, can APS Mortgages help? APS Mortgages has several schemes that are designed for people wishing to buy a commercial property such as a shop or office space. For more information visit our commercial mortgage page or give us a ring!A commercial mortgage is a long-term commitment and, like a residential mortgage, will need to be paid off over a period of 15 years or more. However, if you don't make the repayments on time you will accrue additional interest and, if you continue to default on payments, the property can be repossessed.

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