Commercial loan programs
Small Commercial NINA
NINA- No income No assets No employment
No seasoning required on Refi or Down Payments
$200,000 to $1.5 million
NY,NJ,So.CA (LA, OC, SD), Phila PA,MD,VA,So.FL(Palm,Broward,Dade),Farfield,CT,Chicago
IL,Boston MA
Northern California coming soon!
620 minimum credit score
Multi-family, Mixed use, Retail and Office
No automotive or industrial
Fixed Rates from 5.25%
Up to 30 year Amortization
Max LTV 75%/CLTV to 80% Apply
Now
Stated Income and Low Doc Commercial
Mortgages
Property Types Multi-Family, Mixed Use (Commercial under Apartments),
Office, Retail, Industrial, and Hard to Finance Properties such
as: Automotive, Dry Cleaners, Restaurants, Pubs, Motels, Mobile
Home Parks, Funeral Homes, Convenience Stores, Self Storage, etc.
Minimum Loan $100,000
Maximum Loan $600,000 (Loans over $600,000 up to $6 Million available
with additional documentation.)
Maximum Loan to Value Up to 70%
Maximum CLTV 90% (Combined LTV of Loan under this program and
seller 2nd Mortgage.)
Amortization 15 Years
Term 15 Years (15 year Fixed and ARM Loans available)
Balloon None
Recourse Personal Guarantees required
Bankruptcy Allowed with acceptable credit scores or guarantors.
No Seasoning required.
Credit History A-D credit considered
Personal Tax Returns Not required!
Personal Income Verification Not Required!
Environmental No Environmental survey's required! (May require
Environmental Insurance)
Construction Loans Not currently available
Escrows Required for Taxes and Insurance
Apply
Now
Multi-Family Property loans
5+ Unit Buildings/Apartments, Nursery/Medical Housing
Property Type 5 or more unit Multi-Family properties
Minimum Loan Amount $150,000
Maximum Loan-to-Value 80% (Generally lower of Cost or Appraised
Value)
Maximum Amortization 20-30 years
Term Up to 10 years
Minimum DSCR 1.20:1
Interest Rate Fixed and Variable rate programs available
Recourse Non-recourse available many programs over $1 million
Subordinate Financing Under $1 million, allowed some programs
with reduced LTV
Over $1 million, typically not allowed.
Pre-Payment Penalty Varies, may include :
5% first 5 years
Declining 5 year (5/4/3/2/1)
Some programs require yield maintenance
Pre-payment Lock-out period some programs
Apply
Now
Commercial Mortgages Over $1 Million
Property Type Tier 1: Office, Retail, Industrial, Medical
Tier 2: Hotel, Automotive, Special Purpose, Mobile Home Parks,
Self-Storage, Churches
Minimum Loan Amount $1,000,000
Maximum Loan-to-Value Tier 1 properties: 80%
Tier 2 properties: 70-80%
(Both generally lower of Cost or Appraised Value)
Maximum Amortization 20-25 years
Term Up to 10 years
Minimum DSCR Tier 1 properties: 1.25:1
Tier 2 properties: 1.25:1 to 1.4:1
Interest Rate Fixed and Variable rate programs available
Recourse Non-recourse available some programs
Subordinate Financing Typically not allowed.
Pre-Payment Penalty Typically :
5% first 5 years
Some programs require yield maintenance
Pre-payment Lock-out period some programs Apply
Now
Commercial Mortgages Under $1
Million
Property Type Tier 1: Office, Retail, Industrial, Medical
Tier 2: Hotel, Automotive, Special Purpose, Mobile Home Parks,
Self-Storage, Churches
Minimum Loan Amount $150,000
Maximum Loan-to-Value Tier 1 properties: 80%
Tier 2 properties: 70-80%
(Both generally lower of Cost or Appraised Value)
Maximum Amortization 20-25 years
Term Up to 10-15 years
Minimum DSCR Tier 1 properties: 1.25:1
Tier 2 properties: 1.25:1 to 1.4:1
Interest Rate Fixed and Variable rate programs available
Recourse Personal guarantees generally required
Subordinate Financing Available some programs up to a combined
LTV of 90%
Pre-Payment Penalty Typically :
5% first 5 years
Some programs require yield maintenance
Pre-Payment Lockout period some programs Apply
Now
Small Business Administration
- SBA Loan
Property Type Most property types as long as
owner occupies at least 51% of space
Minimum Loan Amount $150,000
Maximum Loan Amount 7(a) Program: $1,750,000
504 Program: $3,000,000
Maximum Loan-to-Value 80-90%
Maximum Amortization 15-25 years
Term Up to 15-25 years.
Most programs are fully amortizing
Minimum DSCR Varies. Based on business cash flow.
Interest Rate Fixed and Variable rate programs available
Recourse Personal guarantees required
Subordinate Financing Typically not allowed
Documents you are likely to need:
Personal Financial Statements (all guarantors)
Business Plan executive summary
Complete Business Plan (start-ups)
3 year's historical operating statements (existing business)
3 year's pro-forma's including next 12 months
2 years personal tax returns Apply
Now
