Arizona Commercial Loan Mortgage Rates Present Opportunities
The real estate market in Arizona has been going through a boom for white some
time now. Such boom has resulted in significant opportunities for new
residential and commercial developments. The City of Phoenix, Arizona's capital
has the largest metropolitan area and is the center of commerce and industry.
Scottsdale is located north of Chandler and Tempe and is well known for its
beautiful hotels and golf resorts, many PGA tournaments are held in Scottsdale.
The commercial real estate sector continues to expand in part due to the city’s
perception largely as a recreational center. Commercial Loan Mortgage Rates in
Phoenix presently offer great opportunities for further developments in the
commercial real estate sector.
Types of Arizona Commercial Mortgages Available
Presently the commercial mortgage rates offer developers good opportunities for
further commercial developments, such as Multi-family buildings, high rise
developments, strip malls office buildings medical facilities, churches or
mobile home parks. Commercial Financing is also available in Arizona for retail
outlets, healthcare and assisted living developments, industrial developments,
as well as hotels/motels. Commercial mortgages are also available for other
Real Estate developments as well.
Arizona Commercial Mortgage Rates
The rates offered in Arizona mirror the national trends, since most Commercial
developers rely on funding from many Wall Street financial institutions and
banks. Available loan amounts for commercial real estate developments in
Arizona ranges from $1,000,000 - $125,000,000. The rate for a typical
Industrial / Warehouse development in Arizona will vary between 5.56% - 6.43%.
It should be noted that rates granted depends on the nature of the credit of
the commercial loan seeker. Commercial mortgage seekers should shop around to
obtain the best rates available, since different lenders may offer their own
fee schedules and interest rates charged for various types of loans. It is
important to shop around because the difference between a few points may
translate to higher payments, particularly when we are talking about millions.
A Golf Course / Resort / Gaming development may carry higher rates of
financing. A typical golf course or resort will carry average financing rate of
about 7.15% - 7.92%. Most lenders will provide tailor-made commercial mortgages
with the following options:
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Fixed or variable interest rates
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Annuity or pension backed options
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Options available for refinancing
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Options for equity to be released for other business needs
Source: Paul Oranika
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