Difference between Real Estate and Commercial Loan

[snappingpig]

Can someone please explain to me the difference between these two loans? I am into real estate and I am planning on buying property but I'm not sure exactly what type of loan I should be taking out and what one is best for this stage. I am first going to buy the property and then later on I will be renovating it and improving the value of the property.

I'm not sure if the Real Estate loan is for renovating it or if this is what the commercial loan is for. Vice versa goes to the actual buying of the property. Could anyone list the statistics for these types of loans as well, such as APR, length of time for the loan, important details like that etc. ?

Thanks

[sakitha]

Hai,

I am Sakitha.

I know about only commercial real estate.

Broadly defined, the term "commercial real estate" can be used to refer to any dealing with real property in a business context. It could involve leasing out office space, owning an apartment complex, or selling real property along with and as part of the sale of a business. It might be industrial or agricultural property. It could even involve residential properties like apartment complexes or rental houses being held for business or income-producing purposes. It can even involve working with the government. Unless the property is a residence where the homeowner is living, you are probably dealing with commercial real estate.