Many small business owners don't know that there are government-backed loans available for commercial property purchases. The program has been around since 1959 but has recently gained new traction among small business owners looking to improve their commercial space. Especially for owners who invite customers and clients into their offices, having a customized and comfortable space is an important way to support growth.
Each mortgage contains a small hidden fee, known as the guarantee fee, or "G-fee." The fee has been silently included in mortgages for more than 30 years, and Congress has recently mandated an increase. It is not clear at this time when the increase will take effect, but it analysts anticipate that it will also cause interests rates to rise slightly.