Commercial Real Estate
Redwood Credit Union offers very competitive financing for commercial real estate, including the purchase of existing buildings or refinancing current loans. These loans use the property as the required collateral, and often are used for:
- Commercial properties, both owner- and non-owner occupied
- Rental housing
- Combination business/residential properties
Recognizing that your real estate transaction may be unique, Redwood Credit Union offers an innovative and flexible program to fit your needs. Commercial real estate loans are amortized over a maximum of 25 years with either a fixed or variable interest rate for a maximum of 10 years. 1 to 4 rental units are handled by Redwood Credit Union's Real Estate Division.
Terms and Conditions: No prepayment options available. Maximum Term 10 years; Amortization up to 25 years; Loan to Value up to 75%; Required Minimum Debt Service coverage of 1.25; Loan fee of 1% + out of pocket expenses.
Apply for a Commercial Real Estate loan by 4/30/10 and receive up to a $1,000 credit towards loan fees!
For more information on any of these products, please contact RCU's Business Services Division at 1 (800) 895-7610 or visit an RCU branch.
To receive quick, accurate answers to your membership questions, call our priority help line at 1 (877) 545-4100 or visit any RCU branch.
