A commercial mortgage is a loan for any legal business purpose secured by real estate as collateral to secure repayment.
Brazington Mortgage, LLC can help you purchase Commercial Property, non-owner occupied residential real property, multi-family properties, farm, ranch. load only and other interests in real property. We want you to have skin in the game and will ask that you put 20% to 50% cash down at closing. Call Stan Brazington today to chat about what we may be able to do for you.
We can encumber many types of real property, non-owner occupied residential, multi-family, commercial, industrial, farm, ranch and land only to name a few. We cannot encumber your owner-occupied home or fund a consumer loan in any amount.
In addition, commercial mortgages are typically taken on by businesses instead of individual borrowers. The borrower may be an individual or a business entity. The borrower may be an individual, husband and wife, partnership, incorporated business, or limited liability company.
Some commercial mortgages are nonrecourse, that is, that in the event of default in repayment, the creditor can only seize the collateral, but has no further claim against the borrower for any remaining deficiency.
Frequently, the mortgage is supplemented by a general obligation of the borrower or a personal guarantee from the owner(s), which makes the debt payable in full if foreclosure on the mortgaged collateral does not satisfy the outstanding balance.
Call Stan Brazington, (509) 922-4560 today if you would like to explore a commercial loan to purchase your business related property.