Alternative Commercial Real Estate Loan

The alternative loan program is designed for borrowers seeking a streamlined loan solution. No verification of income (personal and business), employment or assets required. Purchase loans require downpayment verification and possible 2-3 months reserve for 1st time buyers. No need to provide: tax returns, W2's, pay-stubs, YTD P & L statements, bank statements, or sign a 4506. With flexible common sense underwriting, previous bankruptcy or foreclosures only need 2 years seasoning to be eligible. This is the ideal alternative to a traditional bank or hard money loan.

 

 

Key Points

Same Day Conditional Loan Approval

Full Documentation, Lite Documentation and Stated Documentation Options

Mid-FICO 600+

No  Seasoning Requirement On Title

No  Upfront Fees

No  Income or Employment Verification

No Personal or Business Tax Returns Required

No  Limit on Properties Owned

Unlimited cash-out

Quick Close

 

 

Terms

$200,000 +

LTV: up to 80%

Interest: from 6.00%*

Rate: Hybrid

Fixed Period: 3, 5, 7 & 10 year options

Term: up to 30 years

Amort: 20, 25 and 30 year options

DSCR: 1.20x

PPP: Multiple Options

Impounds: Property Taxes & Insurance 

 

 

Purpose

Acquisition

Refinance

Cash-Out (unrestricted)

 

 

Collateral

Automotive Services  (no gas)

Bar

Daycare

Industrial

Mixed-Use (residential or commercial)

Mobile Home Park

Multifamily  (5+ units)

Office

Restaurant

Retail

Self Storage

Warehouse

 

 

*Interest Rate dependent upon: loan amount, loan-to-value, property type, fixed term and credit score.