Ohio Commercial Loans for Investors
The state of Ohio is full of both commercial real estate opportunities and investors looking to grow their portfolios.
The problem is that many of these investors are struggling to secure financing from traditional banks in cities like Columbus and others. In a market where commercial real estate opportunities come and go in a short amount of time, financing delays or rejections can prevent investors from realizing their financial goals.
Fortunately, more and more investors in Ohio are beginning to see the value in alternative lending solutions. With more flexibility and quicker closings, non-bank lenders are playing an important role in the growth of Ohio’s commercial real estate market.
But don’t take our word for it – take a look at some of our borrowers’ recent success stories.
Success Story in Columbus, Ohio
Even experienced real estate investors can experience difficulty when working to secure mortgage financing. The borrower in this case needed to refinance their 3-building, 84-unit apartment building and take cash out of their existing mortgage.
The challenges in this type of case often have to do with the amount of cash-out a lender is willing to provide. It is common for lenders to restrict what borrowers can do with the cash one they have it. Many lenders will also limit the amount of cash that can be taken out of an existing mortgage. Our mortgage experts connected the investor with a long-term solution that included a 100% cash-out.
Success Story in Dayton, Ohio
This investor in Dayton, Ohio wanted to take cash out of the existing mortgage on their multifamily property. The challenge here was that the borrower was not able to provide tax returns for traditional lenders.
The worry for prospective borrowers in this situation is that banks will reject their loan request and they will have to settle for a hard money loan. While hard money loans are a great solution for borrowers in certain situations, the high interest rates
Thankfully, the investor did not give up or settle for less than what they needed. Instead, they partnered with our team and secured a loan that allowed them to take out the cash they needed.
Connect with a mortgage expert today!