Tuesday, January 29, 2008

California Commercial Loans Are in Great Shape

The California Mortgage Bankers Association reported today that only 4 commercial loans in the entire state have been reported as more than 30 days delinquent. Furthermore, not one of those 4 delinquent loans is for an industrial property.

Additionally, the interest rate for the SBA 504 loan program has dropped below 6% fixed for 20-25 years. These loans are available to borrowers who plan to occupy at least 51% of the building they purchase, and have a low down payment requirement of 10%.

If you have any questions about the value of your property, or available properties, call Greg Ozimec today at 949-646-2727 at Industrial Brokers in Newport Beach.