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General Underwriting Guidelines for Commercial &
Multifamily Income Producing Properties:
We are mainly interested in Commercial Properties if,
you have a Residential Hard Money Property please visit
our Compare
Residential Mortgage Rates for more helpful information.
The following information is the general Loan-To-Value
criteria that we use on Alabama hard money loans for
various property types. Although exceptions may be made
from time to time when risk-mitigating circumstances
present themselves, For clarifying questions, please
contact us. All commercial properties considered Nationwide.
Who We Are:
We have 2 divisions of our company. Bankable "A"
paper and Hard Money Bridge or Swing Loans: The private
side in which we have money "in-house" to
lend on Alabama commercial mortgage loans. Hard Money
Loans or Private Money Loans are typically structured
for those people OR properties that fall outside of
traditional bank guidelines for one reason or another.
Income documentation, credit, and other items may be
less than what a bank would review however, a believable
exit strategy is required on our hard money loans. Most
Hard Money Commercial loans are able to close quickly
with less headache. The interest rate, LTV, Term, and
cost of the loan will depend on a few factors including:
Strength of the borrower, location, condition &
type of collateral considered, current occupancy levels,
income provided on both the property and the borrower,
and finally the EXIT strategy. (how you will pay it
back). There is a $100,000 minimum loan amount - There
is no maximum loan amount.
The "bankable side" or 'A" paper side
requires strong liquidity, high net worth, "A"
credit, "A - B" market, "A-B-C"
property type, ability to demonstrate proven income
with tax returns, quality asset, and in a stable market.
Bank side of Direct Money Lenders jointly underwrites
and sells commercial notes to several capital partners.
We do not service these loans but, offer competitive
pricing just like you would find at a local lending
institution. (if they were lending).
What We Finance:
Multifamily
Apartment Program - LTV's to 85% on Purchase - Refinance
or Cash out Refinance - Rate, cost and points vary from
deal to deal and are priced according to the overall
risk.
Micro
- Small Business Loan Program - Loans made from
either Hard Money or not so Hard Money rates - 25,000
- 750,000 - Most areas of the USA are considered.
Land
Loan Program - General rule is between 30 - 50%
LTV on as-is value based upon a MAI appraisal - Will
consider anything on a Nationwide basis but, prefer
entitled or correctly zoned for highest and best use
- Personal guarantees preferred but, not mandatory.
Commercial
- Owner Occupied or Investor Program - Direct Money
Lenders has several programs available to small to medium
sized business on a Nationwide footprint - General rule
for private side is 50-65% - Bank side up to 75% - it
is best to consult with one of our qualified representatives
for your best solution and a more accurate pricing structure.
Typical property types include: Multifamily - Apartment
- Office - Retail - Warehouse - Self Storage - Assisted
Care - Car Wash - Automotive - Gas Stations - Franchise
- Mobile Home Park - Light Industrial - Land Loans -
Liquor Store - Mixed Use
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