Getting commercial property loans can be difficult for the first time investor. Commercial property financial loans are similar in many ways to private residential loans, but vary enough to warrant an intensive overview of the method before proceeding for the first time.

If you are searching for a commercial property loan for an office building or facility for your own business to use, you will not have an income producing property. Instead, your commercial property loan will be determined by the strengths of your enterprise and the exact resale price of the commercial property you are about to purchase. For a private business use commercial property loan, be prepared to present 3 years of tax returns, financial documents, and perhaps even a venture or business development plan.

If your commercial property loan will likely be used to purchase or refinance a commercial property that is already income producing, for example an apartment building, office or commercial building that is leased out, your commercial property loan will be influenced by the current price range (value) of the property and the likely hood of paying back the loan based on the earnings it is producing. Your commercial property loan officer may additionally look at the use of funds. If you are planning to make developments with the proceeds of the loan, you probably may fairly comprehend an increase in income from the property, thereby yielding a more favorable loan package. Be sure to include any such information when making your preliminary request for an income generating commercial property loan.

As a guideline, commercial property loan officials use the 60/40 principle when figuring out the net income on a commercial property. Simply put, 40% of the gross income is reasonably considered to be net income. The balance constitutes the net operating expenses. When requesting a commercial property loan, it is advisable to apply these figures or describe in depth to your commercial property loan official why your numbers are better or worse.

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