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Mortgage Lending
Products
Commercial Mortgages: Income-Based
Underwriting commercial mortgages with adequate qualifying income requires technical understanding of financials and weighing key risk factors that could heavily impact income of a subject property. We focus on commercial properties with qualifying income that are Multi-Residential, Mixed-use, Small Retail Plazas.
Lending Guidelines
Borrower Criteria
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Credit Score: No minimum credit score required
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Debt Coverage Ratio: 1.20 Minimum
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Ownership Structure: Personal and Corporate
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Mortgage Position: 1st & 2nd
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Loan Purpose: Purchase, Refinance, Equity Take Out, Bridge
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Corporate Borrowers: Personal Guarantee Required
Offerings
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Loan Amount: Up to $5,000,000 (larger available on request)
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Term: 6 - 12 Months
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Prepayment: Prepayment options available.
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Loan-To-Value: Up to 70%.
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Amortization: Interest Only
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Interest Rate: Fixed
Application Documents
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Mortgage application;
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Credit Bureau (personal & business);
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APS (if a purchase);
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Ownership structure & Personal Net Worth;
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Rent Roll & Operating Statement;
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Appraisal & Environmental Reports (Commitment can be conditional on these); and
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Notes regarding borrower and exit strategy.