Florida-based company CaribbeanMortgageLoans.com launches their hard money loan services for commercial properties within and outside the US. The services are the perfect alternative to borrowing from traditional lenders who usually require months to fund multimillion dollar commercial loan transactions.
More information can be found on the company’s website at: https://caribbeanmortgageloans.com
The newly launched services offer flexible loan terms, usually ranging from one to three years, to accommodate the different requirements of the company’s clients. For borrowers within the US, the minimum loan amount is $1 million, with rates starting at 9%. As for clients outside the country, the lowest loan amount they can take out is $5 million, with rates starting at 11%. The company allows borrowers to use the said loan amounts for any worthwhile business purpose.
As with any other types of hard money loans, the company requires any of their commercial loans to be secured by an existing property. Most real estate properties qualify as collateral for commercial loans. The resulting loan amount will be equivalent to a percentage of the property’s value upon appraisal. CaribbeanMortgageLoans.com may also consider accepting other types of collateral, but only on a case-to-case basis.
It is vital that the property under consideration is operational and producing income when the loan application is submitted. In addition, some liquid cash should also be available to the borrower so they can cover out of pocket expenses related to the acquisition and refinance of the property.
CaribbeanMortgageLoans.com recognizes that certain projects need funds immediately, so they make sure to offer quick turnarounds on their loan processing, allowing only two days for commitment and closing in as fast as two weeks.
Outside of US, CaribbeanMortgageLoans.com also lends on real estate-secured properties in the Bahamas, Mexico, Costa Rica, Dominican Republic, Trinidad, Virgin Islands, and other stable countries.
Parties who wish to contact the company or learn more about their hard money loan services may log on to the website stated above.
Release ID: 88943179