Buying a building, investing in commercial real estate, or starting a major construction project comes with plenty of moving pieces. Financing shouldn’t add unnecessary uncertainty.
At Magnifi Financial, our commercial banking team focuses on getting borrowers clear answers early in the process. Our credit committee meets multiple times each week, giving our team frequent opportunities to bring deals forward and make decisions. Depending on the project, underwriting can take less than two weeks, with closing possible in as little as 30 days.
Our borrowers have businesses to run. They don’t want to spend weeks wondering where their loan stands. We work to get them a clear answer early and keep things moving from there.
Tyler K., Commercial Banking Officer, Magnifi Financial
How the financing is structured matters, too. Magnifi offers amortization options up to 30 years on qualifying commercial real estate loans. A longer amortization can mean lower monthly payments, giving businesses and investors more flexibility with monthly cash flow.
Preparation also plays an important role in keeping a deal moving. What you’ll need depends on the property and size of the request, but having financial documents and property details ready can help your lender understand the deal from the beginning.
For construction real estate projects, Magnifi has a dedicated team to handle construction draws as work progresses.
CRE Deal Prep List
Depending on your project, a lender may request:
- 3 years of tax returns
- Personal financial statement
- Property income and expense projections
- Previous or planned property improvements
- Rent roll and lease details for applicable properties
- Historical income and expense information (if applicable)
Get in touch with a local Magnifi Commercial Banking Officer to start a conversation about your CRE plans.
Learn more: mymagnifi.org/business
Magnifi Financial has locations in Fargo, Moorhead and West Fargo. Credit qualifications apply. Ask for details. Insured by NCUA.
