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Loan types:

Real Estate Loans 

Business loans

Joint venture

Bond surety loans

Hard money loans

Trust deed loans

 

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The journey towards realizing your property vision begins when you click here and you make your first contact with Kolarewich Mortgage Co.

 

Jargon used in these sites

 

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Real Estate Loans

A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise money to buy the property to be purchased or by existing property owners to raise funds for any purpose. The loan is "secured" on the borrower's property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms.

A commercial mortgage is a mortgage loan secured by commercial property*, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.

Commercial mortgages are structured to meet the needs of the borrower and the lender. Key terms include the loan amount (sometimes referred to as "loan proceeds"), interest rate, term (sometimes referred to as the "maturity"), amortization schedule, and prepayment flexibility. Commercial mortgages are generally subject to extensive underwriting and due diligence prior to closing. The lender's underwriting process may include a financial review of the property and the property owner (or "sponsor"), as well as commissioning and review of various third-party reports, such as an appraisal**.

 

*The term commercial property (also called commercial real estate, investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income.

**Real estate appraisal, property valuation or land valuation is the process of valuing real property (usually market value). Real estate transactions require appraisals because they occur infrequently and every property is unique (especially their location, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical . Appraiser reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes the report is used by both parties to set the sale price of a property.

Most, but not all, countries require appraisers to be licensed or certified. Appraisers are often known as "property valuers" or "land valuers"; in British English they are "valuation surveyors". If the appraiser's opinion is based on market value, then it must also be based on the highest and best use of the real property.

 

 

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