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Commercial Lending
Weststar provides small commercial real estate loans for most income producing properties in amounts from $50,000 to $2,000,000.
Whether you need a short-term bridge loan for an immediate purchase or you need longer term financing, Weststar can tailor a solution that meets your needs and timing parameters. What you want to know about Weststar's commercial loan program:
Property Types
- Loans up to 75% of value - Amortizations up to 30 years with a 5 year balloon - 620 middle credit score or higher - Completed 1003 or Detailed Loan Request - Acceptable Appraisal - 2 years of tax returns and current operating statements - Rent roll and copies of leases - Title commitment and Alta survey - Corporations, Partnerships and LLC’s okay with personal guarantees - Proof of insurance - Rates from prime + 5% - 2 to 3 points on most transactions
Reverse Mortgages - Commercial Real Estate
Weststar has pioneered the “Reverse Mortgage” for commercial real estate. If you face estate tax issues, medical expenses or just need time to dispose of your commercial real estate for its market value, Weststar has the solution.
Weststar will fund you monies at
closing plus a monthly payment for up to five years. Sale of the property needs
to payoff the outstanding debt within this time period. No out of pocket
expenses and no monthly debt service giving you the ability and time to sell the
property at its fair market value. Give Weststar a
call to discuss this opportunity. |
