Did you know that you may qualify for a Commercial Real Loan with Bank Rates with Cash Out Financing?
Here is more information on qualification requirements for this unique loan product:
FICO Score: Typically 650+. The lender will work with credit challenged borrowers as long as their credit issues have gotten resolved and the reason behind the makes sense!
Loan Terms: 25-30 year amortizations. 3, 5, 7, and 10-year fixed options.
Loan Size: $300K to $30M
Max LTV: Up to 75%
Debt Service Ratio: 1.25+
Interest Rate: 4.00%+
Property Types: Stabilized MF properties 5+ units, mixed-use, retail, industrial, office, self-storage, warehouse, mobile home parks, student, and senior housing (without an assisted living component.)
Pre-Payment Penalty: Step Down Prepay, Flat Prepay, and Yield Maintenance. Typically step-down prepayment penalties during the fixed rate portion of the loan.
Use of Funds: Purchase, Refinance, Cash-Out Refinance
Territories: Coastal Southern California, San Jose, Salt Lake City, Chicago, San Francisco Bay Area, Boston, Washington DC, Philadelphia, Seattle, Minneapolis/St. Paul, Denver, Portland, NY Metro, New Jersey, Miami, San Antonio, and Austin.
Special Notes: We work with Foreign Nationals. However, at a lower LTV. Non-recourse loans get offered at a 50% LTV. No Seasoning on properties income! This advantageous perk means the investment property could be producing stabilized income recently and the lender will loan based on this information. Lenders that participate in this program don’t require the property is income-producing for 1-2 years to lend!
If you meet these requirements and you’re interested in securing a Commercial Real Estate Loan with bank rates with cash out financing available, you can securely apply online by using the convenient form found below: