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CommercialDeals.com is a real estate finance resource for borrowers and brokers seeking financing from conventional commercial mortgage lenders and private mortgage lenders to acquire, refinance or develop commercial property (agricultural, healthcare, hospitality, industrial, land, mixed-use, multifamily, office, retail, special-purpose). Whether you need lenders for healthcare financing, hotel financing or apartment loans, post it here for commercial mortgage lenders. There is no fee to post loans for lenders.
Private mortgage lenders AKA hard money lenders provide short-term bridge loans for commercial properties until they qualify for cheaper permanent financing. Private mortgage lenders include managed investor funds and high-net worth individuals. 1031 exchange transactions commonly require private mortgage lenders to fund quickly after which new property owners will refinance with conventional commercial mortgage lenders on better terms.
While private mortgage lenders aren't the economical choice, they are sometimes the only way to get commercial property financing. Although private mortgage lenders are more expensive, provide lower LTVs and may require additional real estate collateral, their money is usually still cheaper than that of equity lenders for deals which conventional commercial mortgage lenders won't touch. Conventional commercial mortgage lenders include traditional banks, institutions, insurance companies, pension funds, HUD/FHA and government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac. Many commercial mortgage lenders have a 'sweet spot' (e.g., owner-occupied properties, multifamily) where they offer competitive loans.
Commercial real estate financing may involve multiple layers including debt, mezzanine and equity (e.g., preferred equity, joint-venture). CommercialDeals.com leads specify whether the borrower is seeking private mortgage lenders or conventional commercial mortgage lenders as well as mezzanine and/or equity financing.