Menu LOG IN OPEN SEARCH Home » Commercial » Commercial Financing » Real Estate Loans Real Estate Loans Real estate is a local business. So, when you’re looking for a commercial land loan or other type of commercial real estate loan in VT or NH, you want to work with a local bank who knows the market. Union Bank understands the subtleties of the local real estate market in the communities we serve. We can help you finance the purchase of land or buildings for a new business. And when it comes to refinancing your existing commercial real estate loan, we’ll make sure you get the most accurate assessment of your property’s current value. Union Bank has a long history of being innovative in helping you secure the capital you need. We work with you and for you to design a loan that serves the needs of your business and makes sense for your budget and financial goals. That’s why so many real estate investors and developers in northern Vermont and northern New Hampshire prefer to stay local to go far. Commercial Land Loans Obtaining financing for a land purchase doesn’t have to be complicated. A local bank is a great option for commercial land loans because local banks are familiar with land values in the communities they serve. Unlike national banks, Union Bank has the local expertise needed to secure loans for improved or unimproved land. Improved land means there is already some or all of the following on the property: sewers, utilities, or other buildings. Unimproved or “raw” land has no existing infrastructure. In both cases, it’s helpful to have a plan for improvement or construction after the purchase. Sometimes a land loan can be combined with a new construction loan to ease the process of building a new business structure. Commercial Construction Loans You’ve got plans to build or expand your business in northern Vermont or northern New Hampshire. Now you need funding to make it happen. Union Bank’s commercial construction loans are designed to get you there. Pay interest only during the construction period. Various term options to fit your project timeline Competitive rates With Union Bank’s construction-to-permanent loan, your commercial construction loan will automatically convert to a term loan with principal and interest payments at the end of construction and only one closing necessary. Real Estate Development Loans When you’re ready to move forward with an approved real estate development project, we offer financing for many project types including: Construction or expansion of owner-occupied commercial real estate Construction of rental properties Subdivision infrastructure construction Construction of building(s) to be sold (usually requires pre-sales) Talk to us about your development loan real estate needs today. Refinance Commercial Real Estate Loans Are you stuck with an above-market interest rate higher than the current average? Do you need to cash out equity to improve or expand your business? We’ll help you get the best deal on refinancing your current commercial real estate loan. Then you can: Pay off an existing mortgage on your commercial property for a new loan with a lower rate and/or a longer repayment period. Lower your monthly debt payment so you can invest more money back into your business. Cash out equity to use toward renovations and other improvements, or to purchase new properties. What do I need to Get a Real Estate Development Loan? A good to excellent FICO credit score A debt-to-income ratio of less than 36 percent Proof of income and employment history Down payment How do I apply for a Development Loan for Real Estate? The application process for a commercial real estate loan is like that of a home mortgage. You’ll need to produce documentation for the factors listed above, as well as a business plan for your commercial real estate projects. At Union Bank, our real estate development lenders provide personalized service throughout the application process. We are here to answer your questions, help you complete your paperwork, and more. Stay Local with all of your Real Estate Loan needs and Go Far! Want to learn more? Get in touch with our Commercial Lending Team and we’ll walk you through the best options for your business needs. Apply Now Download our printable application. The PDF below contains instructions and “field fillable” boxes you can type directly into. Once completed, simply print out, sign and deliver (or mail) to any of our locations or Commercial Lending Team members. Commercial Loan Application Download the free Adobe PDF Reader. Related Resources Renting vs. Buying Commercial Real Estate in Vermont and New Hampshire It’s hard enough to find the right property for your business. How do you decide if you should buy or lease commercial real estate? Of course, there are pros and cons with both options, including the opportunity to build equity and profit off a future resale that comes with buying property. 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