Thursday, March 1, 2007

Little Known Commercial Loan Puts Cash In Your Hand For Any Reason Fast and Easy by Naomi Monk

Owning a commercial building such as an apartment complex, office building, retail center, business owner-occupied building and the like is a great investment that appreciates over time and can provide a constant source of monthly income.

How To Use Your Equity Without a Hassle

If you’ve got equity in your commercial building, it’s a great source of cash at your fingertips, if you can get it out. It’s not as easy as it sounds if you don’t work with the right commercial loan or commercial broker knowledgeable about your options.

Not all commercial loans and lenders are alike. Some are very restrictive when it comes to how you plan to use the cash you receive from the refinance loan.

Good News For Commercial Property Owners Who Want a Commercial Refinance Loan With Cash Out

The good news is, there is a little known commercial loan that lets you obtain unlimited cash out for any reason. There are no restrictions on how you use the money. Need to make property improvements? No problem. Need to buy some new equipment for your business? No problem. Need some down payment money for another commercial real estate investment? No problem.

In addition to no restrictions for unlimited cash out, all types of commercial properties are eligible. These include multifamily or apartment buildings, mixed-use property, office, retail, self storage, warehouse and industrial buildings, mobile home parks, bed and breakfasts and other special use properties.

High Loan-to-Value Ratios Are Acceptable

Another great benefit this little known commercial mortgage offers is high loan-to-value ratios. For example, you can obtain a cash out refinance up to 90% on commercial real estate such as multifamily or apartment buildings, mixed-use property, a bed and breakfast, light industrial buildings, a mobile home park, office and retail buildings, self storage and warehouse buildings.

The loan to value adjusts to 80% if you own automotive related real estate, hotels with national franchise affiliation, funeral homes, an industrial building or rooming house.

Special use properties can still get cash out up to 75% loan to value. These include day care and health care centers, restaurants, RV parks and independent hotel and motel properties.

If you need to get your hands on the extra cash fast, then you’ll love the fact that these cash out commercial loans fund in just 30-45 days. The application and underwriting process is hassle-free and you’ll know in just 48-72 hours of application whether or not you qualify for the loan.

All Legal Entities Can Apply

One other feature investors will find an advantage is that all legal entities can apply for this loan. This means you can apply for this cash-out refinance loan as individual borrower, corporation, partnership, limited liability company and certain trusts. Personal guarantees are still needed, but it's a lot less hassle than having to take property in and out of different legal titles to obtain the loan.

Stop the headaches. Stop the hassles. Start working with the right commercial loans and lenders and start getting the cash out you want for any reason using your commercial property equity.

Naomi Monk has been helping clients with their real estate and loan needs for 20 years. Business owners and real estate investors can visit her
commercial loan website to learn more about commercial loans, how to invest in the next hot real estate markets and apply for a commercial loan using a fast and easy online application that provides multiple loan options to choose from.

Article Source: Article Directory - Super Feature
A Quick Guide To Refinancing Your Mortgage by Michael Burns

Even slight percentage point shifts can lead to major financial changes. This is the fact that refinancing hinges on. You might mistakenly perceive that it is created to change an old mortage; but it is actually a new mortgage taken to pay the old one.

Now, in the real world, taking out a new loan to pay off another, would not make much sense. But, refinancing gives the borrower the chance to exploit many things, and one of them is significantly lower interest rates. This could mean it's two percentage points under. Mortgages are big sums of money that have your house as collateral. Therefore, when you convert the percentage point difference into monetary terms, you could save a lot.

Why do people opt to refinance? It is because the interest rates are lower and the processing time is faster. But while all these sound very commonplace and easy, mortgage refinancing could be a disaster if you don't understand how it works.

How will refinancing benefit you?

Having mentioned the potential upsides, it's very tempting to just jump into refinancing. However, a refinanced mortgage is still a loan. Thus, you are not spared from the fees you will still need to pay.

Will your savings be higher than your new expenses? To find out if this is the case you can use the free refinance calculator on our site:

One of the problems complained about loans are the terms. Your old mortgage deal might have made it difficult for you to keep up with your payments, but having your mortgage refinanced could remedy this. It is, thus, advised that you only agree to refinance your mortgage if the interest rate is lower by at least two percentage points, to be safe.

You will be elated to find out that some banks have no-cost refinancing schemes. This means you don't have to shell out for the initial fees, etc. These costs will just be deducted from your principal or be reflected in the form of slightly higher interest rates. Despite this, however, it is still an option you should check out.

There are three main things you will benefit from taking a refinancing program. First, you have the chance to pay off your loan early or just a huge part of it and reduce your interest rate. Second, as said previously, are lower interest rates. But, perhaps, the best part is that you can choose between operating under an adjustable mortgage rate or a fixed rate mortgage.

Mortgage refinancing is no doubt a good way to get out of longstanding debt. However, do realize that however which way you see it, it is still a loan. It is your responsibility to adhere to the deal with your creditor. Remember, mortgage refinancing is not for everyone so once you get approved, you should make sure you don't stray. Consult the free refinance calculator at our site to see if you qualify.

Michael Burns is the home refinance expert behind the website Feel free to visit our site to get the latest refinance rates, use our mortgage calculator or just stay up to date with the latest mortgage refinance.

Article Source: Article Directory - Super Feature