About SBA Mortgage Loans by CALVIN The Mortgage Calculator AI

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SBA Commercial Real Estate Loan Programs

DESIGNED SPECIFICALLY FOR FINANCING OWNERS OCCUPIED COMMERCIAL PROPERTIES, SUCH AS OFFICE BUILDINGS, RETAIL SPACES, WAREHOUSE, MEDICAL AND MORE! SMALL BUSINESS ADMINISTRATION (SBA) MORTGAGE LOAN PROGRAMS ARE DESIGNED TO HELP SMALL BUSINESS OWNERS AND ENTREPRENEURS FINANCE THE PURCHASE OR REFINANCE OF COMMERCIAL REAL ESTATE PROPERTIES

SBA Commercial Real Estate Mortgage Loan Highlights

Small Business, Big Dreams: SBA Mortgage Programs for Business Owners and Entrepreneurs
Small Business, Big Dreams: SBA Mortgage Programs for Business Owners and Entrepreneurs
Property types allowed: SBA mortgage loan programs allow borrowers to finance a variety of commercial real estate properties, including:
Multi-use buildings, such as retail stores with apartments above them
Office buildings
Warehouses
Self-storage facilities
Medical or dental buildings
Hotels or motels
Maximum LTV: The maximum loan-to-value (LTV) ratio for SBA 7(a) loans is generally up to 90% of the appraised value or purchase price of the property, whichever is lower. However, for SBA 504 loans, the maximum LTV is generally up to 85% of the appraised value or purchase price of the property.

Eligibility: To be eligible for SBA mortgage loan programs, borrowers must meet certain criteria, such as:

The business must be considered a "small business" according to the SBA's size standards.
The property must be owner-occupied, meaning that at least 51% of the property's square footage must be used by the borrower's business.
The borrower must have a good credit score, typically above 680.
The borrower must have sufficient cash flow to repay the loan.
Terms and conditions: SBA mortgage loan programs offer competitive interest rates and long repayment terms of up to 25 years, depending on the program and the lender. Additionally, borrowers may be required to provide collateral, such as the commercial property being financed, and personal guarantees.

It's important to note that SBA mortgage loan programs are only available through participating lenders, such as banks and credit unions, that have been approved by the SBA to offer these loans. Borrowers should research and compare lenders to find the best loan terms and conditions for their business needs.

The principal and interest payment on a $400,000 30-year Fixed-Rate Loan at 7.125% and 80% loan-to-value (LTV) and 760 credit score is $2,695. The Annual Percentage Rate (APR) is 7.350% with estimated finance charge of $9,000. The principal and interest payments, which will continue for 360 months until paid in full, does not include taxes and home insurance premiums, which will result in a higher actual monthly payment. Rates current as of 11/2/2023. Subject to borrower approval. Disclosure: All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply.

The Mortgage Calculator is a registered DBA of Mortgage Calculator Company LLC. NMLS ID #2377459. Programs and rates are subject to change without notice. Mortgage Calculator Company LLC is licensed in the following states that require specific licensing disclosures: AZ (#1040352), CA CFL (60DBO-171188), GA Georgia Residential Mortgage Licensee (#2377459), IL MB.6761755 Illinois Department of Financial and Professional Regulation, Division of Banking, 100 West Randolph, 9th Floor, Chicago, IL 60601 1-888-473-4858. Not licensed or conducting business in New York.

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