A. Competitive pricing & flexible property types
B. Fully Amortizing up to 25 years fixed rate for
up to 10 years
C. Closing in approximately 30-45 days
D. Offers bridge loans for non-conforming, commercial real estate projects
Commercial Projects:
A. Multifamily/Apartment
B. Gas stations/Convenience Store
C. Hotel/Motel
D. Church
E. Hard Money Residential Loans
F. Light Industrial
The requirements for this program:
A. Loan Size: $1,000,000-$10,000,000
B. Location: Urban and Suburban US Properties
C. Collateral: Improved commercial and investment residential real estate (NO, raw land or construction development projects). WA & CA (OK), OTHER STATES (OK), only if held in a corporate entity and proceeds are
used for business purposes.
D. Rates- Most loans fund at prime +4-5% plus a couple of points
E. Terms: 1-3 years, interest only, no prepayment penalty
F. Max: 65% LTV (can be stressed under certain conditions
FEES: THESE FEES ARE REQUIRED UP FRONT BY THE LENDER:
A. Due Diligent: A deposit of $5K-$6K is require after the file is evaluated. Their is no upfront fee to review the 1003, credit report, rent rolls, etc.
A third party cost for the appraisal value evaluation fee which may consist of a site visit and an eye ball inspection of the facility. This is done to ensure the value of the property since the high number of MAI and other type of appraisals FRAUD in this Commercial Industry Nationwide.
However, I do have other investors that may not charge this fee & a BPO will be accepted. This third party cost will be credited to the closing cost on the HUD at closing.
B. Creative/Flexible: Blanket loans; points and fees wrapped into the loan; multiple income sources considered.
C. Down Payment: The fee is due upon signing of the letter of Intent and Term sheet and cannot be wrapped into closing cost.
Please email me or call me if you are interested in this program. |
