Sunlite Mortgage understands the unique financing needs of retail property owners, which is why we offer common-sense solutions such as second mortgages to help borrowers access capital without incurring penalties associated with breaking a first mortgage mid-term.
Secondary financing serves as an attractive alternative to traditional refinancing by providing borrowers with access to their property’s equity. This capital can then be utilized for various purposes, such as purchasing another asset or undertaking renovations and repairs to enhance an existing property. With loan terms typically ranging from six months to two years, secondary financing offers flexibility and shorter durations compared to long-term refinancing options.
What makes secondary financing particularly advantageous is that borrowers with an existing first mortgage on the same property may still be eligible for this type of financing. This allows borrowers to leverage their property’s equity while keeping their primary mortgage intact.
When considering secondary financing for retail properties, Sunlite Mortgage takes several key factors into account. A strong operational history, property quality, and location are crucial considerations to ensure the viability and potential for success of the investment. Additionally, the borrower’s liquidity and net worth play a significant role in assessing their ability to meet financial obligations.
By leveraging Sunlite Mortgage’s secondary financing for retail properties, you can tap into additional capital without disrupting your existing mortgage agreement. This enables you to pursue growth opportunities, make strategic property improvements, or address any financial needs that arise. Our team of experts is ready to provide personalized guidance and support throughout the process, helping you unlock the full potential of your retail property. Contact us today to explore the possibilities of our secondary financing solutions.
