Real Estate Term Loans
BizEssentials Term Real Estate Loan
Grow your business with a Term Real Estate Loan* from First Horizon Bank. Long-term financing options mean you can expand or build now, and make payments as your business continues to grow in the future. Explore product features and benefits of acquiring a secured loan, with both fixed and variable options, when you apply for a business loan with us.
Product Features
- Minimum loan of $100,000
- Fixed and variable interest rate options
- Flexible rates and terms
Product Benefits
- Owner-occupied commercial property or personal residence may be used for collateral**
- Simple application process
- Secured and fully amortized
Real Estate Term Loans FAQs
What is a real estate term loan?
What types of real estate properties can be financed with a term loan from First Horizon Bank?
At First Horizon Bank, we offer term loans for a variety of commercial real estate properties, including, but not limited to, office buildings, retail centers, industrial facilities, multifamily properties and mixed-use developments. Our experienced business bankers can help you find the right financing solution for your specific property needs.
What are the eligibility requirements for real estate term loans?
Eligibility requirements for real estate term loans may vary depending on factors such as creditworthiness, property type, loan amount, and loan-to-value ratio. To learn more about eligibility requirements and to discuss your specific financing needs, please speak with one of our business bankers for assistance.
What are the repayment terms for real estate term loans?
Repayment terms for real estate term loans typically range from five to 20 years, depending on factors such as the loan amount, property type, and borrower's preferences. These loans may have fixed or variable interest rates, and payments are usually made on a monthly basis. Contact us to discuss available repayment terms and find the right option for your business.
What are the interest rates for real estate term loans?
Interest rates for real estate term loans can vary based on factors such as creditworthiness, loan amount, loan-to-value ratio, and prevailing market conditions. At First Horizon Bank, we strive to offer competitive interest rates to help you achieve your real estate investment goals. Contact us to discuss current rates and financing options available to you.
How long does it take to get approved for a real estate term loan?
The approval process for a real estate term loan can vary depending on factors such as the complexity of the loan, the completeness of the application, and the responsiveness of the borrower. At First Horizon Bank, we work diligently to process loan applications as quickly as possible while ensuring thorough review and consideration. Contact us to learn more about our application and approval process.
Can I use a real estate term loan for property renovations or improvements?
Yes, real estate term loans from First Horizon Bank can often be used to finance property renovations, improvements, or upgrades. These loans can help you enhance the value of your commercial property and maximize its income potential. Contact us to discuss your renovation or improvement plans and explore financing options that meet your needs.
How do I apply for a real estate term loan with First Horizon Bank?
To apply for a real estate term loan with First Horizon Bank, simply contact one of our business bankers. We're here to guide you through every step of the process and help you find the right financing solution for your commercial real estate investment.
Are there any fees associated with real estate term loans?
Fees associated with real estate term loans can vary depending on factors such as the loan amount, property type, and specific terms of the loan. At First Horizon Bank, we believe in transparency and strive to minimize fees whenever possible. Contact us to discuss potential fees associated with real estate term loans and how we can help you manage them effectively.
