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If a property has
been owned for less than two years, we must use the
purchase price plus the cost of any improvements made
for determination of the property’s value. |
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A commercial loan involves real
estate, where as a business loan involves non-real estate
collateral. Always clarify. |
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One potential source for a
down payment on a commercial property is through a cash-out
refinance on a residential property. |
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Home
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Commercial
Loans
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Conventional Loans
This would be for properties
such as: Apartment complexes, office buildings, shopping
malls, warehouses, mini-storage, hotels and many other
types of quality properties. Borrowers of Grade “A”
loans who wish to purchase a property should have at
least the standard 10%-30% down payment in order to
qualify for a 70-90% LTV loan.
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more | apply by fax |
apply
online | contact us |
SBA Loans
SBA loans are only for
commercial real estate properties where the borrower
will owner-occupy at least 51% of square footage of
the building. We also have what is called an SBA Look-a-Like
program that has more aggressive parameters whereby
the property only needs to be 20% owner-occupied.
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| read
more | apply by fax | apply
online | contact us |
HUD Loans
For loan amounts greater
than $1,000,000 for apartments, nursing homes, assisted
living facilities and mobile home parks the 85-90% LTV
HUD loan might be the answer. |
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more | apply by fax | apply
online | contact us |
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Stated Income Loans
This loan type is used
when the property’s Net Operating Income cannot be proven
through tax returns and the income needs to be “stated”
by the borrower. The word “property” is emphasized because
it is the property’s income that is the focus of a commercial
loan. |
Mediocre Credit
Loans
Most Grade “A” loans require
at least a middle credit score of 620. Thus, when a
borrower has a credit score between approximately 570
and 620, they typically will not fit into the Grade
“A” loan category. Our numerous Grade B-C loan programs
can than make the difference between a bank loan turndown
and a successful closing.
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Private Mortgage Simultaneous
Closes
Commercial simultaneous
closings may be the answer to many of your and our challenging
loan scenarios. A simultaneous closing is a two-part
transaction. The first part of the transaction involves
the seller of the property taking back an owner financed
private mortgage from the buyer of the property. The
second part of the transaction involves Financial Resources
buying the mortgage from the seller. |
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Hard Money
Loans (Bridge Loans)
Hard money, private money, private lending, bridge loans,
and equity loans typically are variations of the same
loan product. Hard money does not mean the funds are hard
to obtain. Often our hard money loans are the easiest
to obtain. Generally speaking, the industry defines “hard
money” as unconventional asset based lending in which
the collateral is real estate.
A hard money loan is usually a borrower’s “loan of last
resort,” meaning that all of the borrower’s other options
have been exhausted and due to some significant need or
a problem, the only solution is a hard money loan. The
typical reasons for needing a hard money loan would be:
fast funding need, rough property type, low credit score,
foreclosure bailout, bad property location, etc.
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