If you are thinking to purchase retail and strip centers, you may find difficulty to get a mortgage for this, as you know there is a lot of competition in these centers. But if you come to Mortgage Merchant, we can make your work easy and get you right product depending on your demands and terms.
When applying for retail and strip center mortgages, you must consider following points:
- Financing can be given at 75% loan to value
- $1.20 of revenue (approx.) must be generated for every $1 of debt by the property.
- Lenders will examine your tenant base and leases.
- Details like condition or location information of the property is required.
- Review of your credit history.
For more inquiries, contact Mortgage Merchant today.