NO-RECOURSE 90/10 MORTGAGE

We are currently pre-qualifying commercial properties for up to 90% of the loan amount requested*

*(includes acquisition price / payoff, loan fees, closing costs, and improvements, as applicable).

Offered in major U.S. and emerging global markets!

Best fit for qualified CRE investors who want to maximize cash-on-cash returns.  Please read these guidelines in their entirety.  Borrowers who do not meet the minimum qualifications should not apply.

GENERAL PARAMETERS

Proposed collateral should service debt at 1.25x coverage or better.  THE LOAN AMOUNT IS NOT BASED UPON a MAI APPRAISAL OR SALES PRICE.  Program is NOT equity driven.  This means that "quick sale" or "fire-sale" valuations won't kill your deal.  Borrower must have "skin" in the transaction equal to 10% of the amount requested in liquid assets (cash, CDs, checking, savings, money market, marketable securities, etc...).  The borrower's 10% is not required to be withdrawn.

Loan Characteristics** 

• Full doc
• Fixed rate 1st lien
• Interest only
• Rates from 6.0% to 7.0%
• 10 year term
• Soft PPP (36-48 months)
• No defeasance or yield maintenance
• Minimum loan amount $2,000,000
• Maximum loan amount $500,000,000 (and higher)
• Closing costs CAN be included in the loan amount
• Mortgage broker fee CAN be included in the loan amount (broker chains prohibited)
• Value-added costs CAN be included in the loan amount
• Working capital CANNOT be included in the loan amount (other options available)

*Refundable deposit ranges from $7,000 to $20,000 based upon the transaction.  Funds are credited towards closing costs at settlement. Note: This is not a syndicated product wherein the success or failure of closing is tied to  the ability to raise capital from investor pools on Wall Street..

Unlike SBA, FHA, CMBS, or hard money,  90/10 borrowers enjoy underwriting flexibilities that only a seasoned private lender with its own capital and servicing platform can offer---at very attractive rates. 

Loans are underwritten and serviced in-house; thereby allowing you to build a long term relationship with your funding partner right from the start.  

Program guidelines are subject to change without notice.

                                           DOWNLOAD A SUBMISSION FORM
                                                                        DOWNLOAD EXECUTIVE SUMMARY GUIDELINES

SUBMIT YOUR REQUEST
(download submission form and guidelines first)

Borrower Characteristics

In order to keep rates as low as possible, a qualified borrower is considered one who can provide asset account statements or a bank letter showing at least 10% of the loan amount liquid at application.  Funds can remain on deposit and are not required to be withdrawn.  

Experience matters and projects must be supported by a strong Executive Summary and a well-conceived business plan.  Borrowers who are not prepared to provide proof of funds are encouraged to apply when it becomes possible.

Other benefits include:

• No recourse to principal
• Any FICO
• Property underwritten to loan amount vs. market value
• Application to close in 20 banking days from complete package date
• Entities OK
• No seasoning or sourcing of funds

 DOWNLOAD A SUBMISSION FORM                    DOWNLOAD EXECUTIVE SUMMARY GUIDELINES

 Property characteristics

Core commercial (retail, office, industrial, multi-family), single tenant, and special purpose properties qualify.  Major domestic markets preferred, but will consider secondary and tertiary markets with solid business plans and well defined exits.  Emerging markets in the Amercias, Carribean, South Africa, Asia/Pacific and other offshore locations are evaluated case-by-case. 

Owner-occupied properties OK if operational history for 24-36 months is in the black.  No start ups.  Exceptions made for strong corporate tenants.  Operational businesses such as hotels, leisure, entertainment, etc... are OK.  Other constraints:

• Minimum 1.25 DSCR (some exceptions)
• Class A, B or C
• Repositionings OK (6 months downtime or less)
• Distressed properties OK with strong stabilization plan, exit strategy and market fundamentals
• Pre-leasing / pre-sales for ground up construction strongly encouraged

NO-RECOURSE 90/10 IS OPEN TO PRINCIPALS AND DIRECT TO PRINCIPAL INTERMEDIARIES ONLY; GUIDELINES ARE SUBJECT TO CHANGE WITHOUT NOTICE. 

Minimum Documentation:

1. SUBMISSION FORM
2. EXECUTIVE SUMMARY (see guidelines)
3. PROOF OF FUNDS (10%)

Simply download, print and complete the submission form.  Read and follow the executive summary guidelines.  Submit your application online by clicking "SUBMIT YOUR REQUEST."   Upload all of the items above directly to our secure server.  Emailed documents will not be accepted. 

***SUBMIT YOUR REQUEST***