CONVENTIONAL OWNER OCCUPIED COMMERCIAL REAL ESTATE BUSINESS LOANS are:
Suited for multi tenant properties such as apartment buildings, shopping centers, office buildings, medical buildings and many other property types where the borrower will occupy 25% less of the property and can show at least 2 years of stabilized financials able to support the requested loan. Debt service is calculated on a global basis using the subject business and borrowers financials. Lease income generated by investment tenants is also applied towards debt service in underwriting.. Loans are underwritten using the properties cash flow and the borrower’s personal income is only used to determine ability to service personal debts.
COMMERCIAL BUSINESS LOAN PROGRAM GUIDELINES:
- Commercial Loan amounts up to $8mm.
- 30 year fixed rates available on most commercial loans.
- Debt Service Coverage Ratio (DSCR) as low as 1.20 to 1.
- Multiple prepayment options to choose from.
REAL ESTATE LOANS PROGRAM GUIDLINES:
- 90% LTV on most property types.
- CLTV up to 95%.
- Loan amounts from $50,000 to $15mm.
- Fixed rate options up to 10 years.
- 30 year amortizations on most property types.
- Debt Service Coverage Ratio down to 1.15.
- Multiple prepayment options available.
COMMERCIAL REAL ESTATE BUSINESS LOAN PROGRAM BENEFITS:
- Low down payment.
- Loans without call provisions.
- Reasonable debt service coverage requirements.
- Fast approvals.
- Quick closings.
- Secondary financing allowed; we do not provide.
- Long fixed rates with low payments.
- Easy to qualify DSCR (Debt Service Coverage Ratio).
- Flexible prepayment choices available.