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Eligible Properties
Any commercial income producing real estate will be considered nationwide.
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Eligible Transactions
Acquisitions, refinance, expansion, rehabilitation, bad credit, partner buy-out, and cash out transactions are acceptable.
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Transaction Size
$500 thousand to $50 million
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Loan Rate
Please call for pricing or become an approved broker to view our rate sheets
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LTV (Loan-To-Value)
Up to 80% of lender's valuation, depending on borrower's credit score and property type
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Second Mortgages
May be permissible with up to 90% combined loan-to-value
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Terms
10 to 30 year loans with 10 to 30 year amortizations, unless a bridge or mezzanine loan is required.
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Prepayment Penalty
There may or may not be a prepayment penalty. This will depend on the type of loan you are requesting.
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Ownership
Most legal entities accepted.
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Recourse
Full to limited recourse to individual borrower or guarantor required. Exceptions allowed at lender's discretion with lower LTV loans.
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Security
First mortgage lien on the subject property(s), assignment of leases and rents, pledge of partnership interests, UCC on other collateral.
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Good Faith Deposit
There may be a deposit due upon acceptance of the Letter of Interest or Conditional Loan Approval, in order to proceed with the loan. This deposit will cover third party reports and processing. Any unexpended balance can be credited at closing.
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Origination Fee
Usually 0% to 3% of the loan amount (broker's are included in our fee; fee is dependent upon LTV and level of risk)
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Third Party Reports
Appraisal, survey, and environmental insurance will be required. Some existing reports may be acceptable with pre-approval.
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Closing Time
Most loans can be closed in 45 days. Bridge loans can be closed in 2 weeks or less.
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