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

650 Minimum FICO

Same Day Conditional Loan Approval

Full, Lite and Stated Documentation Options

No Seasoning Requirement On Title

No Upfront Fees

No Income or Employment Verification Required

No Personal or Business Tax Returns Required

No Limit on Properties Owned

Unlimited Cash-Out

Quick Close

 

 

Terms

$250,000 - $2 million

LTV: up to 80%*

Interest: from 6.00%**

Rate: Hybrid

Fixed Period: 5 & 7 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

Bar

Daycare

Hospitality

Industrial

Mixed-Use (residential or commercial)

Mobile Home Park

Multifamily  (5+ units)

Office

Restaurant

Retail

Self Storage

Warehouse

 

 

*Up to 80% LTV on all property types and this includes cash-out transactions

**Rates based on LTV, term, amortization, property type, and borrower’s credit