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Commercial Loan Programs

At Great Northern Mortgage, we can find to our clients the most beneficial lender, whether local or national, which will provide the best commercial real estate financing options with competitive rates and flexible repayment terms to meet your needs. Our loan professionals will work closely with you to develop a plan to meet your financial requirements for your multi-family dwelling, commercial real estate, development or construction projects.

On this page you will find the typical commercial loan programs. However, due to the nature of today’s capital market, we strongly advice you to complete our no obligation Application Form or call us for the up-to-date loan program information.  There are a variety of available loan programs that specifically tailored to the different types of properties, different loan amount and loan to value requests.  

 

Typical Loan Program Guidelines

·  Loan Amount $500,000 - $250,000,000
·  Owner-Occupied or Investor Properties
·  Traditional Commercial Properties Only
·  15, 20, 25, & 30 Year Amortizations
·  Up to 75% LTV / 75% CLTV (some programs allow up to 90% financing)
·  No Balloons or Calls Available
·  Fixed Declining Prepayment
·  Full Documentation and Stated Documentation Loans
·  2 Years of Historical Income Required (Full Doc loans only)
·  Interest Only Payment Options
·  3, 5, 10, 15 Year Fixed Rates
·  Cash Out to 80% of Loan Amount
·  Minimal Impound Reserves
·  Minimum 660 Credit Score
·  Low Minimum 1.15 DSCR (1.0 DSCR - For Purchase Only)

Eligible Property Types

Multifamily and Mixed-Use, Office, Hotel & Motel, Retail, Warehouse, Self-Storage, Light Industrial, Bed & Breakfast Inn, Automotive Repair, Commercial Condominium. For the full list of properties we finance, click here.

 

 
1430 Broadway, Suite 1207, New York, NY 10018