Guide to Commercial Mortgage Lenders in Alaska

An Alaska commercial mortgage provider can finance your business location
By Shannon Tani

Commercial mortgage lenders in Alaska help business owners finance their ideal business location. When they have an Alaska commercial mortgage, business owners can free up their cash flow, making it available to spend on other priorities.

You shouldn't have any problem finding Alaska commercial mortgage lenders. However, some business owners may find the commercial mortgage application process a bit daunting. Luckily, Alaska commercial mortgage firms are willing to walk first-timers through the process step-by-step.

Some facts about commercial lending in Alaska:

1. Commercial mortgages are very different from residential mortgages. There is usually a shorter term on a commercial mortgage--typically less than 10 years to pay off your commercial loans. Alaska business owners will then have to pay the balance of the loan in one lump sum at the end of the term.

2. If you cannot pay off the balance of your loan at the end of your term, you can usually refinance with commercial lenders in Alaska.

3. Commercial lending in Alaska carries a greater risk for lenders. Because of this, you should be prepared to show a business' credit score, business plan and other financial documents that prove your ability to repay the loan.

Action Steps

The best contacts and resources to help you get it done

Search mortgage associations to find Alaska commercial mortgage companies You may want to use the databases provided by local and national professional organizations. These organizations help consumers find qualified lenders in their area.

I recommend: The Alaska Mortgage Bankers Association lists its members on their website. You can also search for brokers in your area when by visiting the National Association of Mortgage Brokers.

Compare rates of Alaska commercial mortgage providers It is always a good idea to compare the rates of different lenders. This helps you to make sure that you are getting a good deal.

I recommend: BuyerZone offers free rate quotes from several Alaska commercial mortgage lenders. LendingTree is another popular website for searching the rates of commercial lending in Alaska.

Choose a nationwide or local Alaska commercial lender You can work with large national companies or small local banks to secure commercial loans. Alaska business owners can choose the type of company that works best for them.

I recommend: Commercial Direct specializes in providing business owners with commercial mortgages. The Commercial Fishing and Agriculture Bank only offers commercial loans to Alaska residents. They have several applications on their site.

Tips & Tactics

Helpful advice for making the most of this Guide

Some commercial mortgage lenders in Alaska do not disclose all fees when they show their mortgage rates. Have a lawyer review your contract before signing to make sure hidden fees do not surprise you.
If your first attempt at securing a commercial loan is unsuccessful, try again. Most business owners must meet with several Alaska commercial mortgage lenders before they find a company that agrees to finance their proposal. Polish your presentation before meeting with each company.