Property types: ALL Owner occupeid business Loan type: Refi and Purchase, ground up and Rehab loan sizes: $350,000 - $5,000,000 Loan to value: 90% (can be higher depending on other collateral factors) interest rate: WSJ Prime + 2.75% Amortization: 10 years or 25 years Loan Term: 10 years or 25 years Adjustments: Quarterly (floats with Prime) Prepayment Penalty: 5-3-1 or None Recourse:Yes FICO: 600 or better (lower case by case)
Equipment Financing Property types: ALL (including industrial) Loan type: Refi and Purchase, ground up and Rehab loan sizes: $500,000 - $25,000,000 Loan to value: 65% (can be higher depending on ARV) interest rate: 9-15% Amortization: Interest only Loan Term: 12-24 months Prepayment Penalty: 12 months guaranteed interest FICO: 620 or better
Stated Income and Stated Assets Property types: ALL (including industrial) , NO land Loan type: Refi and Purchase, ground up and Rehab loan sizes: $3500,000 - $10,000,000 Loan to value: 70-75% interest rate: 9-13% Amortization: 30 years Loan Term: 3 years Prepayment Penalty: 5% per year (can be bought down) FICO: 620 (down to 50% LTV) and 670 (for up to 75% LTV) Full Recourse No Doc Lending Property types: SFR and 1-5 unit residential (non owner occupied) States available: AZ, CA, CO, FL, HI, ID, OR, TX, WA & GA Loan type: cash out Refi and Purchase, and Rehab loan sizes: $100,000- $5,000,000 Loan to value: 70-75% interest rate: 9-13% (interest only) Amortization: 30 years Loan Term: 3 years Prepayment Penalty: 5% per year (can be bought down) FICO: No minimum Full Recourse Docs: Must be able to show 6 months of active bank statements
Residential Lending(Portfolio case by case) Property types: SFR and INV 1-4 units Loan type: Refi and Purchase, no construction or rehab loan sizes: $250,000-25,000,000 Loan to value: 65-90% interest rate: 7-11% Amortization: 10-30 years Loan Term: 3-30 years Prepayment Penalty: none FICO: Down to 550
Land Loan/Development Product Property types: Land or built real estate Location: Nationwide Loan type: Refi or Purchase, (Horizontal or vertical construction) loan sizes: $2,000,000 - $35,000,000 (can go higher case by case) Loan to value: 80-85% Loan to ARV: 65% (max allowable) interest rate: 12% total fees: 3-9% Amortization: interest only Loan Term: 12-18 months Prepayment None Recourse: None FICO: N/A Rehab Lending Product Property types: SFR, 1-4 unit, mixed use investment properties only Location: Nationwide Loan type: Refi and Purchase, no new construction loan sizes: $100,000 - $5,000,000 Loan to value: 80% of the acquisition cost and 100% of the rehab cost. Loan to ARV: 65% (max allowable) interest rate: 9.99-12% Amortization: interest only Loan Term: 12-18 months Prepayment Penalty: 3 months guaranteed interest FICO: 650 or better
Hard Money Lending
Property types: ALL (including industrial) Loan type: Refi and Purchase, ground up and Rehab loan sizes: $500,000 - $25,000,000 Loan to value: 65% (can be higher depending on ARV) (can lend off APPRAISED VALUE not just purchase price) interest rate: 8-14% Origination fee: 3-7% Amortization: Interest only Loan Term: 12-24 months Prepayment Penalty: 0-12 months guaranteed interest Recourse: case by case FICO: N/A
Fannie and Freddie Property types: Multi family, ALF, Independent living, Student housing Loan type: Refi and Purchase loan sizes: $1,000,000 - $50,000,000 Loan to value: 80% (85% for affordable deals) interest rate: Tier Pricing Amortization: 30 years Loan Term: 7-30 years Prepayment Penalty: Yield maintenance FICO: 670 or better (case by case)
Mezzanine/Subordinate Lending Property types: ALL (including industrial) , NO land Loan type: Refi and Purchase, (must have cash flow) loan sizes: $1,000,000 - $20,000,000 (higher case by case) CLTV: up to 85-90% interest rate: 11-18% Amortization: 30 years Loan Term: 3-5 years Prepayment Penalty: Yield maintenence
AR/Factoring types: ALL Business to business invoices Loan type: PO and AR funding loan sizes: $100,000-15,000,000 LTV: up to 80% of the approved AR interest rate: 1-2% per month Amortization: case by case Loan Term: 3-5 years Prepayment Penalty: $5,000 if paid off early
Residential Blanket Loans Property types: 1-4 units (must be leased) Loan type: Refi and Purchase, no construction or rehab loan sizes: $7500,000 - $15,000,000 Loan to value: 70-80% interest rate: 9-11% Amortization: 25 or 30 years Loan Term: 5 or 10 year fixed Prepayment Penalty: Yield Maintence FICO: 650 or better Construction Lending Property types: ALL (including industrial) Loan type: Refi and Purchase, ground up and Rehab loan sizes: $500,000 - $25,000,000 Loan to value: 65% (can be higher depending on ARV) interest rate: 6-11% Origination fee: 2-4% Amortization: Interest only Loan Term: 12-24 months Prepayment Penalty: 12 months guaranteed interest Recourse: case by case FICO: 650 or better
CMBS Property types: ALL (including industrial) must have credit tenants Loan type: Refi and Purchase, no construction loan sizes: $1,500,000 - $25,000,000 Loan to value: 75-80% interest rate: 6-7% Amortization: 30 years Loan Term: 10 years Prepayment Penalty: 5% per year (can be bought down) FICO: 650 or better
USDA Lending Product Property types: All commercial non residential properties are considered Location: Nationwide in USDA eligible zones. Loan type: Refi and Purchase, and new construction loan sizes: $3,000,000 - $25,000,000 Loan to value: 75% of the acquisition cost and 100% of the rehab cost. interest rate: Prime plus 2.75% Amortization: 10-30 years Loan Term: 10-30 years Prepayment Penalty: 10 year step down FICO: 650 or better
