Let’s compare apples to apples. If you were declined from the bank, then NO, private commercial mortgages are not more expensive. We work hard to get the best possible terms in the market and provide you with the solutions that you need.
Since these mortgages are riskier for lenders, they have higher interest rates. However, at Freedom Capital, we don’t get paid on rate, we obtain terms that make sense for our borrower.
If you are looking for the best rate and you have a good income and strong credit, we strongly recommend you contact your local bank and see if you can get approved for commercial financing. However, if for any reason you get declined, we may be able to help!
We are a solutions provider and take pride in providing viable options for your commercial mortgage. If you were not approved by your local bank, Freedom Capital can help get you some options to get you started in the real estate industry.