Self-Employed Loans | Level Up Mortgage Lending

Commercial Loans

Key Features of Commercial Loans

Commercial loans can be used to finance various types of commercial properties including office buildings, retail spaces, industrial properties, multifamily buildings and more.

Loan rates can vary depending on factors such as the property’s value and condition, the LTV, and market conditions. We can offer small to large loans that meet the specifics of our requirements and the scope of the project.

A construction loan is a short-term, high-interest loan used to finance the building or renovation of a home or real estate project. These loans cover the cost of construction and are typically disbursed in stages as the construction progresses. Here's an overview of how they work:

  • Short-term financing: Construction loans generally last for the duration of the construction, typically 6 to 18 months.

  • Higher interest rates: Interest rates on construction loans are usually higher than those on traditional mortgage loans due to the increased risk associated with incomplete projects.

  • Disbursement in stages: The funds are not given all at once; instead, the lender provides money in "draws" based on the progress of the construction (foundation, framing, etc.). Inspections are usually required before each draw is released.

  • Interest-only payments during construction: During the construction phase, borrowers typically only pay interest on the amounts drawn. Full repayment of the principal begins once the project is completed or converted into a permanent mortgage.

  • Conversion to a permanent loan: Once the construction is completed, the loan can either be paid off with a permanent mortgage or refinanced. Some lenders offer construction-to-permanent loans, which automatically convert the construction loan into a traditional mortgage.

Self-Employed Loans | Level Up Mortgage Lending
Self-Employed Loans | Level Up Mortgage Lending

Key Features

  • Loan amounts up to 75M

  • Up to 85% LTV

  • Nationwide financing

  • First-time investors in commercial are welcome

  • Min FICO 650

  • Great for qualifying self-employed investors and small business owners

Property Types-

  • Apartment Complexes

  • Multi-Family

  • Mixed-use (Residential/Industrial) *And more

5) Self-employed home loans may have higher interest rates compared to traditional loans

6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property

7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.

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