COMMERCIAL ALTERNATE LENDING ALT 1*

 

·         Loan Amounts: $100,000- $3,000,000

·         Property Types: multifamily (5+ units), mixed-use, office, retail, warehouse, self-storage

·         Loan Purpose: Purchase| Refinance| Refinance Cash Out

·         Initial Fixed Rates: 3, 5 & 10 year options

·         Term: 30 years fully amortizing

·         Rates: Starting as low as 7.5%

·         Loan to Value: 75%

·         Minimum Fico: 650

·         Unlimited Cash-out  

·         Prepayment: Equal to fixed rate period

·       Two Points at closing 

 

To Submit a Request For Any Loan on This Page:

1.      SBC application or Complete 1003 (No handwritten documents)

2.      Tri-merge Credit Report (no later than 30 days)

3.      Color Photos Property, interior and exterior

4.      Current 2 years taxes on entity & borrower and or extension w/ personal financial statement

5.   Rent Roll w/ income and expense

 

Basic Underwriting Guidelines

·   Population requirement 100,000 OR 25,000 within 25 miles  *42 states…Exceptions: Alaska, Hawaii, Michigan,Ohio, Arizona, Vermont, S Dakota, West Virginia, (Cook County IL)  

• No construction, rehab, seller assists, unique property types, restaurants, churches, hospitality, bankruptcies, foreclosures, default situations
• Cost to borrower is appraisal in upfront with standard costs in the loan
• Term sheet issued within 3 to 5 business days of full file submission with 30-45 days close

 

For more information please email info@PrivateFunds.org

 

*We specialize in loans that need global picture underwriting.  We focus on a borrower’s complete business and write loans with losses on tax returns.  The Commercial Alt 1 product is in between a conventional bank loan and hard money.  Rates and terms are competitive. These are good loans for good people.  The program is designed for the first time real estate investor or small business entrepreneur.   The program is ideal for the customers who do not fit today's bank underwriting guidelines, but do not need to pay private money rates. 

 

EASY HARD MONEY

 

 

·        Loan Amounts up to $500,000

·        Full and Lite Doc Options

·        600 Middle Fico Score

·        2 year fixed rate

·        2 year prepayment penalty

·        30 year amortization

·        Rates starting in the 9’s

·        LTV's as high as 70%

·        Unlimited Cash out 

 

 

 

NEW 1-4 UNIT PROGRAM*

 

 

·        Up to 500k (Only properties with FMV of $150k to $550k)

·        Rates in the 9’s

·        65% LTV

·        2 year fix

·        National

·        Blanket loan available

 

* Properties must be in the name of a corporation or LLC. This program is for one off investment properties and not necessarily for portfolios of lower fair market value real estate.    

 

 

 

 

Conventional Programs Available

All rates are 1 point to brokers

           

Multi-Use Properties

 

·         Office, Retail, Office Condo, Warehouse, Medical Office, Light Industrial

·         Terms- 25 year amortization, 3, 5, and 10 year fixed terms (call for more details)

·         Rates- Start at 4.25% (subject to change without notice)

·         Recourse- Full               *Minimum FICO - 650

·         Loan Amounts- $500,000 to $8,000,000

·         Max LTV of 65%, Max CLTV of 90%, Min DSCR 1.25%

 

Semi-Generic Properties

 

·         School, Daycare, Funeral Home, Auto related properties (sales or service)

·         Terms- 25 year amortization, 3, 5, and 10 year fixed terms (call for more details)

·         Rates- Start at 4.50% (subject to change without notice)

·         Recourse- Full  *Minimum FICO - 650

·         Loan Amounts- $500,000 to $4,000,000

·         Max LTV of 60%, Max CLTV of 85%

 

Special Use Properties

 

·         Restaurant (fast food preferred), Car Wash, Self-Storage

·         Terms- 25 year amortization, 3, 5, and 10 year fixed terms (call for more details)

·         Rates- Start at 5% (subject to change without notice)

·         Recourse- Full  *Minimum FICO - 650

·         Loan Amounts- $500,000 to $4,000,000

·         Max LTV of 55%, Max CLTV of 80%

      For more information please email info@PrivateFunds.org