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| Commercial Mortgage Loans |
We Can Facilitate All of Your Commercial Mortgage & Funding Needs
 Nova Commercial Loans has an extremely wide variety of commercial mortgage programs available to suit the needs of real estate developers, property owners, business owners, and investors seeking long-term commercial mortgage financing at the best possible rates.
Whether you are purchasing an apartment complex in Phoenix, refinancing out of a short-term bridge loan for a recently completed office building in California, or even want to refinance a small hotel or bed & breakfast in Colorado, Nova Commercial Loans should be your #1 source for commercial mortgage funding.
We have the most commercial bank funding sources available and we even offer private equity loans on commercial property, so no matter what your situation, if we can't facilitate financing for your commercial property, chances are that no one can.
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General Commercial Lending Criteria & Rates
- Loan Amounts: From $200,000 - No Maximum
- Rates: 4.75%+
- Terms: up to 30 years
- Max LTV: up to 93% LTV
- Credit: 550+ FICO
- Documentation: SIVA & Full-Doc
- Time to Close: Typically 30 - 60 Days
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We Offer Financing for the Following Property Types:
- Multi-Family (Apartment Buildings / Complexes; 5+ Units)
- Mixed-Use
- Retail (Shopping Centers, Strip-Malls, Malls, & Other Retail Properties)
- Office Space
- Motels / Hotels
- Highrises
- Office Space
- Casinos and Gaming Facilities
- Industrial
- Warehouses
- Mini-Storage & Storage Facilities
- Automotive Service
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Multi-Family (FNMA) Commercial Mortgages:
Loan Amounts: $500,000 - NO MAX
| Property Type |
Max. LTV |
| Apartments |
80% |
| Student Housing |
75% |
| Senior Housing (including Assisted Living Facilities) |
75% |
| Mobile Home Communities |
80% |
| Affordable Housing (Tax Credit, HUD housing) |
90% |
| HUD Construction |
90% - 93% |
Other Basic Commercial Mortgage Products:
| Property Type |
Max. LTV |
Office, Office-Warehouse (Commercial and Industrial, Medical / Dental Office)
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65% |
| Light Manufacturing & Industrial |
65% |
| Retail, Mixed Retail with Office |
65% |
| Dry Cleaners |
60% |
Restaurants
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60% |
Grocery Stores
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65% |
| Health Clubs |
60% |
Bowling Centers
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60% |
| Golf Courses |
60% |
Funeral Homes
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65% |
School or Day Care
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60% |
Automotive |
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| New Auto Dealers |
65% |
| Used Car Dealers |
60% |
Light Automotive Service
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65% |
Tire and Brake Centers
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65% |
Oil/Lube
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60% |
Car Washes
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60% |
Hotel & Motel |
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| Hotel / Motel > 20 years old |
55% |
| Hotel / Motel 11 – 20 years old |
60% |
| Hotel / Motel < 11 years old |
65% |
Multi-Family |
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| Multi-Family Refinance (no cash out) |
75% |
| Multi-Family Purchase or Refinance (with cash out) |
70% |
| Multi-Family w/ secondary financing |
85% |
| Multi-Family with below market rents 65% |
65% |
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Nova Commercial Loans are Available in the Following States:
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Arizona
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Washington
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Oregon
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California
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| Idaho |
| Wyoming |
| Colorado |
| New Mexico |
| Oklahoma |
| Texas |
| Louisiana |
| Virginia |
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How to Get Started...
Interested in applying for a commercial mortgage loan with Nova Commercial Loans?
Below you will find a brief list of items and documents we typically need to get started on your loan. Not all of the information listed below is needed for every loan scenario, but it is extremely important to get as much information as we can up front to give you an accurate rate quote and idea of what we can do for you.
For complete details on the information we will need to get started on your commercial mortgage loan, Contact Us!
- 1003 Mortgage Application
- Credit Report
- Resumes of all borrowers and key management personnel
- Business history and description (name, location, date of origination, background, business activity,strategies, competition, website, etc.)
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- Borrowers Federal Income Tax Returns (last 3 years)
- Business Federal Income Tax Returns (last 3 years)
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- Appraisal (if one was done in the past)
- Interim Business financial statements (have to be dated within the last 90 days)
- Business Debt Schedule (detailed and dated)
- Purchase agreement (if applicable)
- Copy of existing or proposed leases if applicable (rent roll if 3rd party leases)
- Full Executive Summary if available (click here for an example)
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