$2.37 Million Loan for 23,000-SF Office Building in Sanford, FL

Sanford -World Capital Source, Inc. FL has arranged financing for a $2,370,000 loan secured by the office complex. Permanent financing has taken out coming due Mercantile Bank’s note.

Constructed in 2004, the 3 story building is occupied by the professional grade tenants and is strategically located just a few blocks from major highway I-4.

Office Space commercial mortgages can be financed up to 90% LTV on the purchase and up to 85% on refinance. The note can have a below 7% rate (as of this month) for a fully amortizing 30-year note.

There are other programs for higher risk grade scenarios with higher pricing that can accept principal guarantors with credit scores as low as 570 fico.