Whether you’re looking for an investment property, or have a need to purchase a warehouse, our mortgage professionals will find a solution to fit your situation. Our mortgage originators are ready to assist you in person at any branch, or through our online mortgage application.
- Features & Benefits
Local and Member Focused
- Our local business mortgage professionals are ready to guide you through each step of the process.
Fixed and Adjustable Rates
- We offer a multiple of fixed, adjustable or variable rate options to meet your needs and budget.
- Loan Amortizations of up to 25 years will provide you with flexibility to choose a payment that works with your business cash flow.
- A minimum 25% down payment will ensure a solid equity foundation.
- Most closings can occur in 90 – 120 days. Our local originators and decision makers will ensure that the process is smooth and expedited.
No Penalties for Prepayment
- Pay off your mortgage as quickly as you desire without any penalties or fees.
Low Application Fee
- An initial application fee of just $500 is needed to start the process. This fee is refundable if your loan is denied prior to commitment. The total fee will vary depending on the loan amount and the owner’s personal credit score.
APPLICATION – Typically within the 1st week*
- Stop in to your local branch and make a formal application. Please see “Documents Needed” banner for required information that can be provided at time of application if possible.
APPROVAL – Typically within 4-5 weeks*
- Your dedicated business mortgage specialist will work with you to finalize the application process and provide a formal written mortgage approval if your business qualifies.
- Prior to providing a formal written mortgage approval, an appraisal will be required. An appraisal can take 4-5 weeks to complete, depending on your market and the season.
- A determination will be made during the Underwriting/Approval Process about the level of environmental due diligence that will be required.
CLOSING PROCESS – Typically within 8-9 weeks*
- Lender attorney and borrower attorney work together to ensure title is in order and any closing loan conditions are satisfied.
CLOSING – Typically within 10-12 weeks*
- Official Loan Closing with Attorney or Title Company
* Process is an estimated range and times are not guaranteed.
- Documents Needed
PERSONAL IDENTIFICATION – for all applicants
- Photo Identification and proof of Social Security number
INCOME AND ASSET VERIFICATION
- All business organizational documents, including any and all Resolutions.
- Most recent six months of business and personal bank statements.
- Three fiscal years of business and personal tax returns, including all schedules and K-1’s.
- 1099’s and W-2’s for all years.
- Three fiscal years of financial statements (Balance Sheet and Income Statement) if available.
- Year to date financial statements.
- Proof of equity funds if purchasing property.
- If purchasing property, copy of executed Purchase Offer.
- If purchasing property, current property operating statement from seller (if available).
- Current Rent Roll.
- Copies of all leases.