In addition to the loan amount, borrowers may also be required to pay fees for origination, appraisal, and other services. When applying for commercial real estate loans in Florida, borrowers should be prepared to provide detailed information about their financial history and the property they want to finance.
This includes credit scores, income statements, rent rolls, and property appraisals. The lender will use this information to determine the borrower’s creditworthiness and the loan’s terms.
By understanding the different types of loans available and the lending process, borrowers can make informed decisions and secure the capital they need to achieve their real estate goals.
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