Eligible Locations:Continental US 
Eligible Properties:Stabilized income producing commercial properties including office, retail, warehouse, industrial, commercial condos, multifamily, mixed use, automotive, gas stations/C-stores, self-storage, funeral home, assisted living and hospitality.
Eligible Transactions:To finance the acquisition or refinance of existing stabilized income-producing commercial real estate properties of various types – owner occupied or investor. Cash-out possible.
Not EligiblePersonal credit less than 675. Exclude raw land, single family, RV, MHP, churches, start-ups.
Transaction Size:$2 million to $5 million – larger case by case
LTV-LTC:Owner occupied and investor: lesser of up to 60% of current “as is” appraised market value, or purchase price. [For MA, CT, NY, NJ, RI, PA & FL up to 70%] Investor case by case. Cash-out up to 60%
Security:First mortgage lien on the subject property(s), assignment of all permits and approvals, assignment of leases, pledge of partnership interests, personal guarantee of principals, UCC on other collateral
Ownership:Single asset, special purpose entity.
Application Fee:$2,500 is due with the signed Letter of Intent
Origination Fee:1-2% of loan amount payable at closing
Commitment Deposit$10,000, payable upon acceptance of Loan Commitment for 3rd party costs, legal and closing. Unspent balance applied towards Origination Fee or refunded at closing.
Prepayment:Declining or static available
interest Rate :4+% to 8+% fixed, depending on fixed rate period preferred
DSC:1.15x to 1.40x, depending on property type, LTV, selected interest rate and credit
Recourse & credit:Full personal recourse for all principals. Minimum credit score 675 [No minimum for MA, CT, NY, NJ, RI, PA & FL.]
Loan Term:Quarterly adjustable & 1-3-5-10-15 years fixed – balloon
Amortization:Amortization 20 or 25 yrs [30 years for MA, CT, NY, NJ, RI, PA & FL.]
Second Mortgage:Max 85% CLTV permitted with Lender’s approval and consolidated DSC
Third Party Reports:MAI Appraisal, Phase I environmental, property condition, ordered by Lender at expense of Borrower.
Closing Time:30 – 45 days from accepted Letter of Intent