Finance commercial real estate purchases or refinances. If you want to purchase
a shopping center, office building, medical condominium, or any type of commercial
real estate, Teachers can provide you with a commercial mortgage with flexible terms.
This loan is similar to a residential mortgage, except the collateral is a commercial
building, not a residential property.
- Maximum loan: $5,000,000
- 5 year balloon - up to 30 year loan amortization
- 10 year balloon - up to 30 year loan amortization
- 15 year balloon - up to 30 year loan amortization
- To purchase the premises of a business, in order to "own rather than rent."
- For an addition/extension to an existing business site.
- To use the full or partial proceeds for further business investment,
which could include: other needed properties for the business, equipment, or
long-term increases in working capital.
- To develop a commercial property in a variety of other manners.
5/5/5 Adjustable Commercial Mortgages
- Term: 15 years
- Initial Interest Rate = 3.375%*
- Interest rate adjusts after 5 and 10**
- No prepayment penalty
* Rate accurate as of 6/1/2020. Rates & terms subject to change without notice. Loans are subject to credit approval. Business owners must be members or eligible for membership at Teachers.
**After years 5 and 10, interest rate will adjust to the 5 year constant maturity treasury + 2.5% rounded up to nearest 1/8th.