In this episode, we delve into the world of commercial loans and explore their differences from residential mortgages. We discuss various types of commercial loans, including SBA loans, HUD loans, construction loans, bridge loans, and hard money loans, explaining their specific uses and benefits. We emphasize the importance of the commercial loan pre-approval process and the significance of loan-to-value ratios and down payment requirements. Additionally, we explore the terms and interest rates associated with commercial loans, including how they are calculated and influenced by factors like loan size, credit score, and loan length. Finally, we discuss the wide range of properties that commercial loans can finance, from single-family rentals to large commercial developments. This podcast provides valuable insights for individuals and businesses seeking to finance their commercial real estate ventures.
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