| Loan Amount | $250,000 – $10 Million |
|---|---|
| Minimum Property Value | $325,000 or greater |
| Loan Term | 30 years |
| Purchase | Up to 80% LTV |
| Refinance | Up to 75% of the As-Is Value |
| Cash-Out | Up to 70% of the As-Is Value |
| Time to Close | 20 to 30 Days |
| Asset Classes | Commercial apartment building from 5 units to 100 units |
| Lien Position | First mortgage |
| Interest Rate | Varies depending on the market |
| Origination Fees | 1.00% – 3.00% (adjusted to loan size, timing, and complexity) |
| Minimum Credit Score | 680 |
| Amortization | Fully Amortized |
| Programs | 30yr Fixed, 5/1, 7/1, 10/1 ARM or Interest Only Options |
| Prepayment Penalty | Zero to 5yr Year declining or flat options |
A borrower seeking a long term commercial loan must meet the following generally stated minimum requirements.
| Borrower Type | Corporations, Trust or Limited Liability Companies preferred |
|---|---|
| Borrower Liquidity | 9 Months of PITIA Reserves |
| Net Worth | Sufficient to support the loan and project scope |
| Credit Score | 660 or higher preferred |
Personal Documents
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Loan Application
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Driver’s License & Passport
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Personal Financial Statement
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Schedule of Real Estate Owned
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Bio/Resume
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Last Two Month’s of all Bank Statements
Property Documents
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Current Rent Roll
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Operating Statements for Last Three Years & YTD
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Operating Budget/Proforma for Next 12 Months
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Purchase Contract or Payoff & Current Mortgage Statement (if applicable)
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Leases
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Property Management Agreement
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Planned and Past Capital Improvements
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Valuation (to be ordered or provided)
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Title & Insurance Contacts
Business Documents
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Last 2-3 Years of Tax Returns (if applicable)
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Entity Documents
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Articles of Organization
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Bylaws/Operating Agreement
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Organizational Chart and Business Debt Schedule
We make it easy—download all the forms you need to start your loan application, hassle-free.