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Small Balance Programs
Tier I Properties
- Mixed Use - Property must contain at least one commercial unit and at least one residential unit.
- Multi Family - containing five (5) or more units.
Tier II Properties
- Automotive: Auto repair shops, quick lube facilities, etc.
- Light Industrial: Small size facility where no heavy manufacturing process takes place.
- Office: Designed for general commercial occupancy and are sub-divided into smaller units.
- Retail: Designed for retail sales and display: markets, convenience stores, etc.
- Self-Storage: Mini warehouse subdivided into a mixture of cubicles designed to be rented.
- Warehouse Designed primarily for storage purposes, cold storage and transit warehouse are included.
Tier III Properties
- Flagged Hospitality: Hotels with national franchise affiliation.
- Funeral Home: Included are those used for viewing purposes as well as embalming.
Tier IV Properties
- Day Care: Center has light kitchen facilities, activity rooms and multiple restrooms.
- Gas Stations: Automotive properties or any other property that dispenses fuel with C-store or Car Wash.
- Healthcare: Includes assisted living, nursing homes, hospitals and medical treatment facilities.
- Restaurant: Cafeterias, bars and taverns where design is of the restaurant type.
- Un-Flagged Hospitality: Hotel/Motel properties without a national affiliation.
| 1. Loan Size: |
$100,000 - $1,500,000 |
| 2. Rates: |
Pricing based on property type, LTV and Amortization. |
| 3. Credit |
580+ fico scores for primary borrower. |
| 4. Loan to Value: |
Loans up to 97% of property value. |
| 5. Loan Purpose: |
Rate/Term refinance, cash-out refinance or purchase. |
| 6. Occupancy: |
Owner occupied or investor properties or purchase. |
| 7. Loan Types: |
6 month adjustable, 2, 3, 4, 5, 7-year fixed, then adjustable; declining fixed rates. |
| 8. Terms: |
15, 20, 30-year fully amortizing loans are available. |
| 9. Target Borrower: |
580+ middle score, low debt relative to income, willing and able to fully document their income. |
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Hard Money and Bridge Loans
Commercial Bridge Loans are sometimes referred to as short term financing, bridge financing or even hard money. Bridge loans are easy to qualify for as long as there is equity remaining in the property sufficient to cover the commercial lender's risk capital.
Commercial Bridge Lenders will overlook property issues, incomplete permits, credit and other problems in exchange for a higher rate of return. However they will look to offset that risk by lending at a lower loan to value ratio usually of under 65% of the property's value. All commercial properties considered except farm land.
| 1. Loan Size: |
$200k-$25,000,000. |
| 2. Rates |
Pricing based on property type, LTV and Amortization. |
| 3. Credit: |
580+ fico scores for primary borrower. |
| 4. Loan to Value: |
70% LTV maximum. |
| 5. Loan Purpose: |
Purchase and refinance. |
Large Balance Commercial Loans
Commercial Property Loans, also known as Commercial Loans or Commercial Real Estate Loans, mean for our purposes, loans that include land with structures, which are used for business purposes, and fall into these categories of properties:
- Anchored and Un-Anchored Retail Centers
- Research and Development Centers
- Owner Occupied and Single Tenant Facilities
- Office Buildings and Office Campuses
- Medical Office Buildings
- Retail Strip Centers
- Mixed Use Commercial
- Warehouse Buildings
- Self-Storage Facilities
| 1. Loan Size: |
$2,000,000 - $100,000,000 |
| 2. Rates: |
Pricing based on property type, LTV and Amortization. |
| 3. Credit: |
625+ fico scores for primary borrower. |
| 4. Loan to Value: |
90% LTV maximum |
| 5. Loan Purpose: |
Purchase, refinance and construction. |
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