Pre-Qualify and Close your Commercial Mortgage Without the Stress!

Commercial property is different.  So are commercial financing structures.  Lenders are cutting back, underwriting guidelines are tightening and this is not the market for inexperienced borrowers to go it alone.  It just adds another layer of risk that your project just can't afford. 

Whether its an agency, conduit, portfolio or private funding source, our trained commercial loan specialists will relieve your uncertanties, answer your questions and guide you through the approval process with as little stress as possible. When it's time to leverage your ambition with a business or commercial loan, we listen.  Call today for a no-cost consultation.  800-684-3092 ext. #11. 

Call about specials such as: 10-year I/O; no PPP option; 90% CLTV for owner-occupants; no lender fee programs; aggressive DSCR down to .80x; 30-year fixed rate options for multi-family and commercial properties.  Rates and guidelines below are just a representative sample of what you can expect. 

Request a FREE no-obligation quote.

THE COST OF CAPITAL REMAINS VERY ATTRACTIVE FOR MANY us PROPERTY TYPES

Core Program Rate Sheet                       Last Updated 09/03/2008

$250,000 to $7,500,000

Reset Period Multi-Use Special-Use Flagged Hotel Variable 5.53% 5.78% 6.28% 5 Years 7.28% 7.78% 8.53% 10 Years 7.60% 8.60% NA These rates are for loans $3mm and over.  For loans below $1mm add 42 bps to rate or pay 1.50% fee. Approved rate/terms based on individual credit package For loans between $1mm and $2.99mm add 14 bps to rate or pay .50% fee. All loans fully amortize over 25 years.  Maximum loan-to-value (LTV) 75% multi-use and 65% special use and hotels.  Multi-Use Notes:  Maximum combined loan-to-value (CLTV) 90% owner-occupied properties under SBA 504 program.  Minimum property DSCR of 1.20.    ELIGIBLE PROPERTY TYPES:  office, office condo, retail, warehouse, mixed use, light industrial, medical office, more. Special Use Notes:  Maximum combined loan-to-value (CLTV) 85% owner occupied properties under SBA 504 program.  ELIGIBLE PROPERTY TYPES: restaurant, automotive, day care, assisted living, more. Hotel Notes: Maximum combined loan-to-value (CLTV) 85% owner occupied properties under SBA 504 program. LTV reduction possible for property age, exterior corridor or unflagged properties.  Call to pre-qualify. 85% CLTV Blended Rate Program           Last Updated 09/03/2008 $250,000 to $2,000,000                         30 Year Amort

Initial Fixed Term Multi-Use (O/O) Multi-Family Variable 7.48% 7.60% 3 Years 7.95% 7.83% 5 Years 8.29% 8.17% Request a quote for this or any other program.

MORE NICHE COMMERCIAL LOAN PRODUCTS AND SERVICES 

LARGE BALANCE LIMITED DOC COMMERCIAL LOAN FLIER


Conventional Owner Occupied
Works especially well for the business owner who occupies at least 25% of the property and can provide at least 2 years of "stabilized" financials.  We'll analyze both the business and the borrower's financials to calculate a global debt service calculation.  Our underwriters apply rental income received towards debt service.  This will maximize the loan amount that is available to you. 

Program Characteristics:

• LTV up to 90% for multi use properties, 65% or less for special use
• Loan amounts up to $8mm
• Fixed rate options out to 30 years
• Debt Service Coverage Ratio (DSCR) down to 1.20
• Multiple prepayment options

Program Benefits:

• Low down payment to preserve cash flow
• No call provisions = no surprises 
• Fast to qualify DSCR standards
• All income streams taken into underwriting consideration
• Preapproval in 48 hours or less
• Close within 2 weeks of the appraisal

Investment Real Estate
Works especially well for multi tenant properties (apartment buildings, shopping centers, office buildings, etc) where the borrower will occupy no more than 25% of the property. The maximum loan available is  underwritten to the property's cash flow while the borrower’s personal income and debt-to-income ratio are also considered.

Program Characteristics:

• LTV up to 80%
• CLTV up to 85%
• Loan amounts $250,000 to $15mm
• Fixed rate options up to 10 years
• Amortization up to 30 years
• Debt Service Coverage Ratio (DSCR) down to 1.15
• Multiple prepayment options

Program Benefits:

• Low down payment to improve cash flow
• Subordinate financing allowed
• Long term, fixed low payments
• Easy to qualify DSCR
• Flexible prepayment choices

Great Fall Specials! 

Close a loan amount of $1,000,000 or more under either of these programs and win free airfare and accomodations for two (2) to fabulous Las Vegas.  

 Development Capital for Experienced Apartment Developers Nationwide*
Exclusive program through our affiliate that provides up to 95% LTC for larger multi-family projects.  Principal must sign an exclusive 30-day contract.  Deals that have been shopped are not eligible.  No broker chains.

Lending Area:           Nationally (exceptions: AR, AZ, CA, ND, SD, WY)
Eligible Properties:   Apartment developments
Deal Size:                 $20M minimum
Sponsor:                   Demonstrated track record for similar completed projects; good credit rating
Deal Structure:        75% debt, 3rd party provides 80%-90% equity on a JV or preferred equity basis  DSCR:                        1.15 - 1.20
Other:                       Cost estimation is based on historical cost of land purchase not appraisal
Pricing:                      Case-by-case  

 Convenience Store / Petroleum Financing*
Through the end of May we will be offering a Vegas getaway for 2 for every approved and funded loan for $1,000,000 or more.  Contact us today or view our program flier.  Download an application form and checklist for a firm loan commitment within 72 hours of when your documents are received. 

Want to know your "true cost of capital" under this program?  Email us for a free presentation.  Be sure to put "Free Presentation" in the subject line.

*Expires 10/31/08    

Customers who do business inside of the closesooner.comTM Mortgage Network realize economies of scale not found elsewhere.  Fast.  Courteous.  Professional.  We build customers for life.  Why go elsewhere?

FEATURED SERVICE PROVIDER:

Insurance costs are on the rise.  Getting the best coverage at the right price keeps you on top of your game.  Our featured service provider offers fast quotes in Florida for any of the following commercial insurance policies:

• Special Perils
• Terrorist Risk (TRIA)
• Boiler & Machinery 
• Builder's Risk
• Liability
• Rent Loss
• Statuatory Employee
• Flood
• Blanket Coverage

Mention network discount and the type of policy you need in the "Comments" box to reduce your cost of doing business even further.   Get an insurance quote now to avoid closing delays later. 

Cash Now for Seller Held Notes!

Harder to fund transactions like to following result in some type of seller financing to close the deal:

• Mixed use properties (commercial/residential)
• Multi-family properties
• Sales that include real estate and business value (inventory, goodwill, personal property)
• Land, commercial and business transactions
• Properties with deferred maintenance
• Purchasers who need an alternate payment plan

Are you tired of the monthly payments just trickling in?  Concerned that the payer will come upon hard times and stop paying altogether?  What about the spiraling cost of foreclosure?  Do you have the upfront money to pay lawyers to enforce your lien? 

If you can demonstrate at least a six (6) month payment history then we can help. 

Why should you sell now?  There are many reasons why it could be prudent for you to liquidate some or all of your note now.  Some of these reasons include:

To avoid future late payments
To avoid loss due to foreclosure
To take advantage of a better investment opportunities
To take a dream vacation that you can no longer afford to put on hold
To pursue other financial goals

Whatever the reason, we can provide you with a quote for your note within 48 hours of receiving information about the note, borrower and property contained on these two forms.  You can download them immediately from this site.

1. Note Evalutation Form
2. Question & Answer Form (by property type*)

*Select the appropriate Q&A form below.  Complete, print and fax back with your Note Evalutation Form:

Q&A Form - Multi-family or Mixed-use 
Q&A Form - Retail or Office
Q&A Form - Specal Purpose

What can you expect once you receive your no obligation quote?  The note sale process begins by taking the first step above.  The details that you provide in the beginning sets the stage for accurate pricing, smoother execution and a faster closing.  There are four phases.  Here's a basic overview.

Phase I - Evalutation	Phase II - Quote Accepted	Phase III - Due Diligence	Phase IV - Funding/Post Closing
Provide detailed information about the note, borrower and property.  Download LEF and appropriate Q&A.   Fax back to log in your transaction.  Confirmation sent. Expect response wiithin 48 hours of confirmation.	Initial evaluation is successful.  Loan level or pool pricing issued in Bid Letter. Note seller accepts firm quote by signing and returning Bid Letter with  copies of the following supporting documentation: 1) Purchase agreement between note payor and payee 2) Fully executed note 3) Recorded Deed of Trust/Mortgage/Contract 4) Signed closing statement (if available) 5) Preliminary or original title policy (if available) 6) Vesting Deed 7) Appraisal w/interior photos (if less than 3 mos. seasoning on note) 8) Current financials for commercial notes Final value for property is issued.	Detailed evaluation stage by underwriting team.   In depth review of  valuation, property and loan information.  Stipulation List issued at conclusion of underwriting review.  Stip List will identify the remaining conditions that need to be cleared before the file is complete and ready for funding. To avoid delays caused by document deficiencies download the Due Diligence Checklist to use as a guide.	Funding Dept. confirms wiring instructions so funds are deposited in a timely manner. Post-Closing provides note payor with new note payee contact information.

 The importance of precise note information cannot be overstated.  The accuracy of the information that you provide during Phases I and II sets the tone for the entire transaction going forward. 

When your information is accurate and complete the sales process will be efficient and the funding will be much faster.  If your data is outdated, incomplete and vague, then you run the risk of having your note re-priced based on accurate information that is later disclosed.  Avoid the frustration that comes from delayed funding. 

Use the Due Diligence Checklist as a guide to gathering information that is necessary for a firm quote and quicker conversion from note to cash in hand.

Get a free no obligation quote today.