A non recourse commercial mortgage loan is a type of secured loan that is secured by collateral, such as a commercial property, that the borrower is not personally liable. Therefore, if the borrower defaults on the loan, the lender can confiscate the property as collateral. However, the lender's recovery is limited to the collateral. This is due to the fact that if real estate prices have dropped, causing the value of the property to fall and thus, does not cover the entire remaining loan balance, the lender loses money on that difference. These loans are typically only limited to 80% or 90% loan to value ratio to prevent over-collateralization of the loan. Since 1977, Ocean Pacific Capital has offered non recourse commercial mortgage across the nation for acquisition or refinance of existing properties, income-producing and owner occupied. Commercial properties that that eligible are multi-family, mixed-use, office, retail, industrial, hotels, apartments, self-storage, and hospitality. Transaction sizes start at $500,000 and up to no upper limit. Our experience in this industry allows us to offer our clients the most competitive rates available in the market. We have helped numerous real estate developers, investors, and businesses obtain necessary financing through non recourse commercial mortgage. Let us help you. For more information or to see if you qualify, email or call our commercial loan specialists today.
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