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10-04-2014, 10:16 PM #1
- Join Date
- Sep 2014
- Location
- St. Louis, Missouri
- Posts
- 2
Leasehold Mortgage
I have a borrower that owns a successful business and presently leases their the property they occupy. They have an opportunity to purchase the property they occupy subject to a land lease to the existing owner. The property will be purchased for $500,000 and will be subject to a long term land lease requiring monthly payments of $400. Borrowers have excellent credit.
Is their a lender that will finance commercial real estate secured by a leasehold mortgage? Is an SBA loan an option here? Will the lender require any agreements with the land owner?
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