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This loan is a unique hybrid between traditional commercial and residential underwriting, allowing us to include the borrower's personal and other income in calculating the maximum loan amount.
Loan Amount: $100,000-$1,000,000
Use of Funds: Purchases, Refinances: Rate & Term or Cash Out
LTV / CLTV: Up 90% LTV for apartment buildings and mixed-use and up to 85% LTV for other properties.
Term: 15, 20 and 30 year terms.
Credit: Mid scores 600 and higher, depending on property.
Pre-approval: Approximately 1 week with completed application.
Closing: 6 weeks is typical once application is submitted.
Eligible Property Types: Multi-family, Mixed-Use, Bed & Breakfast, Light Industrial, Mobile Home Park, Offices, Retail, Self Storage, Warehouse. (Call us if your property is not listed.)
Ineligible Property Types: Automotive, Bed & Breakfast, Business Loans, Campground, Car Wash, Construction Loans, Day Care, Funeral Home, Marina, Motel/Hotel, Rehab Loans, Restaurant/Bar, Rooming House, Most Churches/Religious Buildings, Vacant Land.
Other Details: Pre-payment penalties apply. All loans are full recourse, and in first position.
