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Office property financing is fairing relatively well in the credit crisis compared to other property types.  The success is attributable to the general use nature of the building type, and that many of the owners are occupants of the property. Currently owner occupied financing is easier to get done than investment financing.  Owners of office building need to occupy, with their business at least 51% of the subject property to qualify for the best financing.   Owners can still expect to get 90% financing on purchases and 85% on refinances, with good rates that are often tied to the Prime rate.  Currently Prime is at historic lows at 4%.  These loan programs that are still closing are often tied to government sponsored programs, which explains a large reason for their stability.  By general use, most lenders and banks are referring to the building, not being special purpose like a hotel or a restaurant for example.   With a restaurant, the only potential Read More

Bad credit borrowers have seen an expansion in the availability of loan products they can now apply for. With the widespread expansion of independent loan brokers and online loan specialists, competition has reached an all time high for car credit business. This increased competition has caused many lenders to focus on offering products to borrowers who have bad credit on their record. Secured loans, such as homes and cars, usually offer the best rates and terms for bad credit borrowers as the collateral offered by the borrower serves as security to the lender. Bad credit car finance rates are obviously not quite as enticing as the 7 to 8 per cent rates commonly obtained by good credit borrowers, but they are definitely better than ever before. As importantly, they are more available. Some loan brokers promote a 90 per cent or so acceptance rate for bad credit customers. For along time, car customers have been somewhat at the mercy of high cost car dealer financing. Some borrowers Read More