Commercial Real Estate
For more than four decades, First National has originated, underwritten, closed and serviced commercial real estate loans. As a Principal Lender, First National evaluates commercial mortgage refinancing transactions directly through its internal underwriting and credit process.
First National considers refinancing for qualified borrowers seeking to replace or restructure existing mortgage debt, address an upcoming maturity, reposition a property, fund qualified improvements or establish a financing structure appropriate to the property and borrower.
Replacement or restructuring of existing commercial mortgage debt.
Qualified renovations and capital improvements
Property repositioning or stabilization.
Consolidation of appropriate commercial real estate obligations.
First National has substantial experience with commercial real estate where business operations are an important component of collateral value and repayment capacity, including hotels and hospitality properties, golf courses and private clubs, marinas, assisted living and senior housing, and other qualified commercial properties.
Specialized-property underwriting may consider operating performance, management, occupancy or utilization, capital requirements, franchise or brand relationships where applicable, and other property-specific factors.
Preparing for refinance financing starts with understanding what a lender will evaluate. Our complimentary guide covers the purpose of the refinance, existing debt, property value and performance, specialized properties and due diligence.
It also outlines each step from initial review to closing to help you plan your timing before starting a financing conversation.
Every commercial real estate refinancing transaction is evaluated individually based on the property, borrower and proposed financing structure.
First National may review borrower, ownership, sponsor and guarantor information, along with existing mortgage debt, liens and other indebtedness.
The underwriting process may also consider historical and current property operating performance, property condition, occupancy, capital requirements and relevant market conditions.
The proposed use of refinancing proceeds, property-specific operating information and anticipated sources of repayment are also evaluated as part of the overall transaction.
Where an appraisal is required, it is ordered directly by First National. The amount of existing debt does not by itself determine the financing available. First National considers independently determined property value, sustainable operating performance, sponsorship, borrower financial capacity and other relevant underwriting factors.
Due diligence may include financial information, appraisal, property condition, environmental matters, title and survey information, insurance, organizational documents, existing loan information and other documentation appropriate to the borrower and collateral.
First National welcomes the opportunity to review qualified commercial real estate refinancing requests. An initial discussion should address the property, requested loan amount, existing debt, operating performance, purpose of the refinancing, sponsorship and desired closing timeframe.
