Financing
100% Financing Available for Qualified Buyers
100% Financing Available
Summerset Business Park offers financing options that can get qualified buyers into ownership with as little as $0 down, combining a bank loan with a Metropolitan seller-carryback loan. Below are real example scenarios based on a $225,000 unit price so you can see what ownership could actually cost per month.
Thinking about buying instead of leasing? Explore the benefits of owning your commercial space at Summerset Business Park.
How Financing Works at Summerset Business Park
Own Your Warehouse With $0 Down
Most buyers use a combination of two loans: a first mortgage from a bank or credit union, and a second “carryback” loan from Metropolitan that covers part of the purchase that the bank doesn’t finance.
Pairing the two is what allows several of the example scenarios below to require $0 in purchase down payment.
- Metropolitan holds a South Dakota lending license, services its own loans, and works directly with buyers toward warehouse ownership.
- First National in Rapid City is an example of a bank offering first mortgage financing up to 90% loan-to-value, subject to approval.
Financing Options at a Glance
Based on a $225,000 example unit price. Monthly totals include estimated taxes and insurance, before association dues. Not a loan quote — see disclaimers below.
| Option | Structure | Metro Interest | Est. Monthly Payment | Down Payment |
|---|---|---|---|---|
|
10% Carryback
|
90% Bank / 10% Metro |
10% |
$2,019.69
|
$0 |
|
20% Carryback |
80% Bank / 20% Metro |
11% |
$2,101.09 |
$0 |
|
30% Carryback |
70% Bank / 30% Metro |
12% |
$2,217.16 |
$0 |
|
Metropolitan First Mortgage (80% LTV) |
80% Metropolitan first mortgage |
15% |
$2,751.00 |
$45,000 |
All examples use 30-year amortization. Carryback second mortgages have five-year balloons; the 80% LTV Metropolitan first mortgage has a two-year balloon.
Estimated Buyer Funds Needed to Close
| Item | 10% carryback | 20% carryback | 30% carryback | 80% first |
|---|---|---|---|---|
|
Purchase down payment
|
$0.00 |
$0.00 |
$0.00
|
$45,000.00 |
|
Bank loan fee (1%) |
$2,025.00 |
$1,800.00 |
$1,575.00 |
$0 |
|
Metro document fee |
$500.00 |
$500.00 |
$500.00 |
$500.00 |
|
Title, appraisal & recording |
$2,400.00 |
$2,400.00 |
$2,400.00 |
$2,400.00 |
|
Insurance + tax reserves |
$2,525.00 |
$2,525.00 |
$2,525.00 |
$2,525.00 |
|
Prepaid interest (15 days) |
$675.00 |
$721.23 |
$785.96 |
$1,109.59 |
|
Total buyer funds needed |
$8,125.00 |
$7,946.23 |
$7,785.96 |
$51,534.59 |
Illustrative financing scenarios. All financing is subject to lender approval.
Who Qualifies?
The 10% interest example assumes a FICO score of 720 or higher. Final pricing depends on credit history, years in business, and available collateral. Additional acceptable collateral may support better terms, subject to approval.
Flex Warehouse Space for Every Business
Financing FAQ
Does Summerset Business Park really offer 100% financing?
Yes, several financing structures pairing a bank loan with a Metropolitan carryback loan allow qualified buyers to purchase with $0 in purchase down payment, though closing costs still apply.
What is seller carryback financing?
It’s a second loan provided directly by Metropolitan (the seller) alongside a traditional bank first mortgage, reducing how much a buyer needs to bring to closing.
How much cash do I actually need to close?
Depending on the financing option chosen, estimated buyer funds needed range from about $7,786 to $8,125 for the carryback options, or about $51,535 for the 80% LTV first-mortgage-only option.* See the full breakdown above.
Are these numbers a loan quote?
No. These are planning estimates only. Bank payments assume 7% interest and 30-year amortization and are not a bank quote; all financing is subject to lender approval and final loan documents.
Important Disclaimers
Estimate assumptions: Taxes $4,500/year; insurance $1,200/year. The $2,525 prepaid/reserve allowance includes the first-year insurance premium ($1,200), three months of tax reserves ($1,125), and two months of insurance reserves ($200). Title/settlement $1,500; appraisal $750; recording $150. All are planning estimates, not quotes.
Qualification and terms: The 10% interest example assumes FICO 720+. Final pricing depends on credit, years in business, and collateral. Bank interest, amortization, and maturity require confirmation. Metropolitan carrybacks have five-year balloons; its 80% LTV first mortgage has a two-year balloon. All use 30-year amortization; payoff or approved refinancing is required at maturity.
Association dues, utilities, and maintenance are additional. Cash estimates assume no earnest money or seller credits and no additional Metro origination fee beyond the $500 document fee. Tax prorations, legal/survey charges, and other lender or association charges may change the cash required. Rates shown are interest rates, not APRs. All financing is subject to lender approval and final loan documents.
Ready to Explore Your Options?
Contact Troy Ward to learn more about available bank financing, Metropolitan carryback options, and qualification requirements.