Medical Office Building Loans
As a real estate investor, you need to understand how every type of loan works, especially if the one you need is for commercial properties such as medical buildings where instead of general commercial credit, you’ll need medical office building loans.
Although commercial loans work around you acquiring a building that is clearly not for residential purposes, the main focus of the property will influence the loan you apply for and thus, its approval. Real estate investors or medical businesses that require an office building, cannot apply for a commercial credit that is focused on hotels—for example.
Even when it is also a commercial property, the final purpose isn’t the same. Now, is there a benefit or real difference when you apply for a loan that meets your needs and the type of building you want to purchase? Without a doubt.
Depending on the office, building, and either if you are an investor or owner occupant, you will have different terms and conditions. Some situations bring more benefits when applying for the credit or the opposite, and the same applies when you have it approved and will determine the final conditions of the agreement. In the case of medical office buildings, you will have more benefits only if you go for a private lender instead of using conventional institutions like banks, insurances, pension funds, and similar ones.
Private lenders are the ones that adjust the requirements based on you as a persona, investor, or owner, and if you are the latest, in the interests of your business as well. As a result, you have more chances to have the loan approved, better terms for the repayment and the conditions will be more accessible and easier to fulfill. Our team at Commercial Real Estate Loan Pros of West Palm Beach processes your needs based on the medical office building you want to invest in and helps you to access a loan that meets your individual needs but also, general objectives.
It is important to have a good lender when it comes to big investments such as a building. Not having it means you are more prone to pay high-interest rates and have very difficult terms and conditions for repayment. Relying on banks and any other usual institution usually leads to wasting time, paying even higher rates, and having to wait for over a month to see if you get your loan or not, which usually leads to losing the opportunity of owning your building or the chance to boost your real estate career.
Having us as your lenders will work in your favor all the time since we won’t only provide the loan but also work around your needs and the property you will acquire with it.
Medical office building loans vs investing your own capital
Either if you are an owner or real estate investor, you always have the option to use your own capital for this project as long as you have it. Knowing this, would you actually go for self-investment instead of applying for a loan? Our recommendation will always be to focus on applying for a medical office building loan instead of using your own money and income for it.
The benefit of loans—despite being in debt for months or years—is that you have more opportunities to afford if things don’t go right. It would be a loss if you invest all you have and it ends not working as you expected, which leads you to have zero money for yourself and other responsibilities. But what is the difference between having money for now but having a big loan on your shoulders compared to just going all-in? That you still can find solutions despite the responsibility of paying for the loan.
Most medical office building investments cost over $500,000, and this includes projects that involve either purchasing a brand-new building, renovating or expanding one, or adding new elements. If you keep in mind that having that amount of money or the one you will use for it in your bank account instead of completely invested in a property is better, you should definitely understand what we’re referring to. Now, the loan also depends on how you get it.
Getting a medical office building loan that has good interest rates and offers you terms such as 25 years of fixed rates, is an opportunity you shouldn’t let go of. Of course, all this is based on your investment not going as planned but if it does, it’s even better for you since you will have more income when reselling it or as an owner-occupant.
Our team at Commercial Real Estate Loan Pros of West Palm Beach can offer you great options, which gives you more reasons to go for credits instead of self-investment in a property. We offer different conditions based on the client’s needs and situation, but we have general terms that include:
- Loan size starting at $500,000 for your property.
- You can either use the credit for acquisition, refinancing, renovation, and other purposes as long as it is a medical office building.
- Over 10 years of fixed rates.
- Amortization from 5 to 30 years.
- Reasonable credit score.
Do you need a loan for your medical office building?
Either if you want to acquire a new property, renovate it, or invest in expansion, you will need the credit. Commercial properties for medical purposes can be more expensive than usual due to the main objective of purchasing them or investing time and money in their renovations. As a result, sellers tend to increase the prices and you don’t get the opportunity to stay up to date with them nor with your income—most of the time.
If you are either someone who is finally opening a medical office building for an existing company or about to start in the whole industry, you can rely on the credit to save time and access better real estate options. As a real estate investor, you get the opportunity to go for bigger investments and build the career you’re looking for. Therefore, we can say that anyone who wants a medical office building as an owner-occupant or real estate investor, should go for this type of loan to have fewer limitations when it comes to expenses and needs.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: