eLendDirect.com
Commercial Mortgage Loans
Starting at 5.0%
Fixed Rates
25 Year Max Term
Min 650 Credit Score
Blanket/Collateral OK
$500k to $50M
Urban/Suburban Areas
Points and loan fees wrapped in loan
48 Hour Decision Time
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> Need a Hard Money Bridge Loan?
eLendDirect offers a broad spectrum of commercial real estate mortgage loans. Commercial mortgage rates and loan terms are determined by the commercial property type, owner occupancy, purchase or refinance, and documentation provided by the investor/owner.
Fixed and Variable Rate Commerical Mortgage Loans
Commercial fixed rate mortgages carry an unchanging interest rate for their entire term, or in many cases, an introductory term of 3, 5, 7, 10 or even 20 years. Fixed rate commercial real estate mortgage loans allow commercial real estate owners and investors to lock in a low interest rate. If interest rates increase, the fixed rate commercial mortgage payments do not increase, providing more security than a variable rate commercial mortgage loan. However, if interest rates go down, the fixed rate commercial mortgage payments stay at the fixed rate.
Variable rate commerical mortgages (or adjustable rate) loans offer lower initial interest rates than fixed rate loans, but are subject to fluctuating market conditions. Payments will lower if market rates decrease. However, if market rates spike, mortgage payments will progressively increase to reflect the change in interest rate. Variable mortgages can be riskier because they don't allow commercial real estate owners to accurately budget for payment changes on a month to month basis.
Interest Only Commercial Mortgage Loans
Interest only simply refers to making payments exclusively towards the interest for an introductory period, which can be anywhere between 1-3 months, three, or five years. This initially reduces the monthly payment during the introductory interest only period. Once the interest only period ends, monthly payments will significantly increase to pay down principal.
Commercial Mortgage Loans with Balloon Payments
This shorter-term loan usually offers a lower interest rate than a full amortizing term loan. Monthly payments include a portion of principal and interest during the loan term of 3, 5, 10 or even 15 years. This type of loan is intended to provide lower monthly loan payments, and is not intended to pay off the commercial mortgage in full by the end of the term. At the end of the term, the remaining principal balance on the loan is due. In most cases, a commercial real estate owner will refinance before term expiration. The downside is, in the event the commercial mortgage can't be refinanced due to market conditions, or the owner's or property's financial standing, the lender has the ability to call the note due in full.
Commercial Hard Money Loans - Bridge Loans
Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans require more equity and lower loan-to-value (LTV) ratios than traditional loans.
Hard money loans carry higher interest rates than traditional commercial mortgage loans. The majority of commercial lenders, such as banks, do not make hard money loans. eLendDirect specializes in short-term, hard money mortgage loans with terms of 3 to 36 months. Since most hard money loans are riskier than traditional fixed and variable rate commercial mortgage loans, interest rates are higher, usually ranging between 11% and 12%.
Hard money commercial mortgage loans can be extremely beneficial for businesses and investors with short-term loan needs. eLendDirect is able to provide conditional loan approval within 48 hours, and has the ability to fund loans in less than 14 days, in some cases, in less than one week.
Bridge loans are usually considered hard money loans offered at higher interest rates than traditional loans. This is a short-term loan that is used until a commercial real estate owner or company secures permanent financing or removes an existing obligation. This type of financing allows the owner to meet current obligations by providing immediate cash flow. The loans are short-term and are backed by real estate equity in the subject property, or other commercial real estate or assets.
Fixed and Variable Rate Commerical Mortgage Loans
Commercial fixed rate mortgages carry an unchanging interest rate for their entire term, or in many cases, an introductory term of 3, 5, 7, 10 or even 20 years. Fixed rate commercial real estate mortgage loans allow commercial real estate owners and investors to lock in a low interest rate. If interest rates increase, the fixed rate commercial mortgage payments do not increase, providing more security than a variable rate commercial mortgage loan. However, if interest rates go down, the fixed rate commercial mortgage payments stay at the fixed rate.
Variable rate commerical mortgages (or adjustable rate) loans offer lower initial interest rates than fixed rate loans, but are subject to fluctuating market conditions. Payments will lower if market rates decrease. However, if market rates spike, mortgage payments will progressively increase to reflect the change in interest rate. Variable mortgages can be riskier because they don't allow commercial real estate owners to accurately budget for payment changes on a month to month basis.
Interest Only Commercial Mortgage Loans
Interest only simply refers to making payments exclusively towards the interest for an introductory period, which can be anywhere between 1-3 months, three, or five years. This initially reduces the monthly payment during the introductory interest only period. Once the interest only period ends, monthly payments will significantly increase to pay down principal.
Commercial Mortgage Loans with Balloon Payments
This shorter-term loan usually offers a lower interest rate than a full amortizing term loan. Monthly payments include a portion of principal and interest during the loan term of 3, 5, 10 or even 15 years. This type of loan is intended to provide lower monthly loan payments, and is not intended to pay off the commercial mortgage in full by the end of the term. At the end of the term, the remaining principal balance on the loan is due. In most cases, a commercial real estate owner will refinance before term expiration. The downside is, in the event the commercial mortgage can't be refinanced due to market conditions, or the owner's or property's financial standing, the lender has the ability to call the note due in full.
Commercial Hard Money Loans - Bridge Loans
Hard money loans are backed by the value of the property, not by the credit worthiness of the borrower. Since the property itself is used as the only protection against default by the borrower, hard money loans require more equity and lower loan-to-value (LTV) ratios than traditional loans.
Hard money loans carry higher interest rates than traditional commercial mortgage loans. The majority of commercial lenders, such as banks, do not make hard money loans. eLendDirect specializes in short-term, hard money mortgage loans with terms of 3 to 36 months. Since most hard money loans are riskier than traditional fixed and variable rate commercial mortgage loans, interest rates are higher, usually ranging between 11% and 12%.
Hard money commercial mortgage loans can be extremely beneficial for businesses and investors with short-term loan needs. eLendDirect is able to provide conditional loan approval within 48 hours, and has the ability to fund loans in less than 14 days, in some cases, in less than one week.
Bridge loans are usually considered hard money loans offered at higher interest rates than traditional loans. This is a short-term loan that is used until a commercial real estate owner or company secures permanent financing or removes an existing obligation. This type of financing allows the owner to meet current obligations by providing immediate cash flow. The loans are short-term and are backed by real estate equity in the subject property, or other commercial real estate or assets.
