Commercial Loans & Credit
Enjoy low rates, fast decisions, and exceptional local service when you choose WEOKIE to buy or refinance commercial property.
Commercial Real Estate Loans
Get financing to buy property such as office, retail, industrial, storage facilities, multi-family real estate, or mixed-use.
Rental Property Loans
Secure a loan to purchase a residential rental property.
Benefits of WEOKIE Commercial Loans
As a not-for-profit financial cooperative, our earnings are returned to our members in the form of better rates, lower fees, and the best quality products and services. We offer financing for long-term, permanent commercial real estate loans, whether it’s for your own business or investment and owner-occupied or non-owner-occupied.
Low Rates
We can offer our members better interest rates so more of your payment goes to the principal.
Extended Amortization
Our commercial loans are amortized for up to 30 years to suit your budget.
Fewer Fees
Pay no upfront application or processing fees and no prepayment penalty fee.
Purchase or Refinance
Make a new purchase or refinance your existing commercial loan with a cash-out option.
Up to 80% LTV
As low as 20% equity on refinances or purchases.
Easy, Fast Application
Our loan process is simple, and we make quick decisions so you can take the next steps.
Low rates, affordable payments
As a not-for-profit financial cooperative, our earnings are returned to our members in the form of better rates, lower fees, and the best quality products and services. WEOKIE offers competitive interest rates. And for well-qualified buyers, up to 30-year amortization with no prepayment penalty. This longer amortization allows you to pay less every month, preserving cash flow for your business.
| AMORTIZATION | 15 YEAR | 20 YEAR | 25 YEAR | 30 YEAR |
|---|---|---|---|---|
| MONTHLY PAYMENT | $8,439 | $7,164 | $6,443 | $5,996 |
| BEST FOR CASH FLOW |
Local expertise for local businesses
When you join WEOKIE Federal Credit Union, you become a part-owner and join our community of more than 60,000 members in the Oklahoma City area. We've been serving our membership since 1969 and know what you need and want.
If you're looking for a commercial loan, our experienced team offers local, Oklahoma decision-making and in-house underwriting and servicing. Our loan process is streamlined for your convenience, and we'll take the time to understand your unique needs.
LET WEOKIE KNOW WHEN YOU'RE READY TO BUY OR REFINANCE A COMMERCIAL PROPERTY.
"We opened a commercial account with Ariel at the Midwest City branch. We are new in town and starting a new business. She was so helpful every step of the way. Her communication skills are excellent. She follows up with her clients. She is very welcoming when you meet her in person. I highly recommend asking for her if you’re looking at opening an account at this location. She went over and beyond for us. Thank you Ariel for your guidance, professionalism and awesome customer service."
- Sharon W.
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Commercial Loan FAQs
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Can I finance my personal residence as an investment?
Absolutely. Financing your personal residence as an investment is possible with WEOKIE. Our mortgage lenders have the necessary NMLS number to assist you. Personal mortgage loans often come with better terms compared to commercial loans. To discuss your options with a mortgage loan officer, please call us at 405-235-3030.
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Do you offer business line of credit?
Yes, WEOKIE provides business lines of credit secured by real estate that you own free and clear. These credit lines can offer valuable flexibility for your business needs.
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Can you provide financing for my new business?
Certainly. WEOKIE can explore financing options for new real estate investment entities, including rental homes and investment commercial real estate. Reach out to us to discuss your specific requirements.
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Can I finance my rental property under my LLC?
Absolutely! Whether your property is held under a business name or a personal name, WEOKIE can assist you in obtaining financing for your rental property.
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Can I put multiple properties under a single loan?
Yes, we offer portfolio loans that allow you to finance multiple rental homes. Our mortgages often come with partial release clauses. This means that if you choose to sell a property, we can consider releasing that property from the loan and adjusting your payment accordingly.
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Do you escrow for taxes and insurance?
In our Commercial lending department, we do not escrow for taxes and insurance. We trust that as a responsible business owner, you'll handle these aspects on your own. While we monitor to ensure compliance, we encourage you to consider investing your tax funds in options like money markets or short-term certificates to earn interest before taxes are due.
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Do you provide 2nd mortgage loans on investment properties?
Yes, 2nd mortgage loans are possible, provided that WEOKIE's commercial department also holds the 1st mortgage loan on the property.
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What kind of fees do you charge?
Our standard pricing structure involves a $500 document fee and an origination fee. These fees are designed to ensure a smooth and efficient financing process.
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Do you have geographic limitations?
In most cases, WEOKIE's lending services are focused on the greater Oklahoma City area, encompassing counties such as Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Pottawatomie, and Oklahoma Counties. However, exceptions can be evaluated on a case-by-case basis.
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Can I do a cash-out refinance on my property?
Absolutely! We're more than happy to explore the possibility of a cash-out refinance for your property. Get in touch with us to discuss your specific situation and needs.