In Huntington, WV, a comprehensive analysis of recent commercial lending activities unfolds a vibrant scene marked by the successful closure of 137 loans over the past 90 days. The loan spectrum spans from $10,588.00 to an impressive $27,000,000.00, with the highest amount facilitated for a retail property.
The diverse property types financed in Huntington reflect a dynamic landscape, revealing the following distribution:
– Retail: 4 deals
– Single Family Residence: 39 deals
– Vacant: 15 deals
– Residential – Duplex/Triplex/Quadplex: 11 deals
– Office: 2 deals
– Industrial: 2 deals
– Services: 2 deals
– Apartments: 2 deals
– Mixed Use: 2 deals
– Parking: 1 deal
– Manufacturing: 1 deal
– Mobile Homes: 3 deals
– Misc Residential: 1 deal
– Residential Condo: 1 deal
This diversity in property types demonstrates the flexibility of Huntington’s commercial lenders in catering to various sectors of the real estate market. The funding amounts and property types highlight a local financial ecosystem that is responsive to the community’s diverse needs and development projects.
Local lenders, including credit unions and community banks, have emerged as the primary contributors to the active commercial lending landscape in Huntington. Their offerings encompass Loan-to-Value (LTV) ratios that range from 70% to 65%. The typical interest rates fall within the range of 6.73% to 7.02%, reflecting competitive terms for borrowers. National banks are also active participants, showcasing their ability to extend loans of varying amounts, providing additional competitive options in terms of rates and origination fees.
The commercial lending scene in Huntington exemplifies a collaborative effort between local and national financial institutions, working together to support the growth and development of the community.
