New Programs!
Stated Income is Back!
In one of the surest signs that the money is flowing back into commercial lending, stated income loans are once again available.
Our lending source came to the game late in 2008 with a stated product and, when Lehman went down, they pulled the plug quick. They did not have a lot of exposure and did not get hurt in the commercial collapse. Over the last few years they have built up reserves and waited for the ideal time – now they are ready to lend.
Key points:
- NO TAX RETURN NEEDED TO QUALIFY
- Loan Amounts: $100,000 to $2,000,000
- Property Types: MultiFamily (5 units and up), Mixed Use, Office, Retail, Warehouse, Mobile Home Parks, Automotive Services
- Loan Purpose: Purchase, Refinnace, & Cash Out to 70%!
- Terms: 30 yr. Fully Amortizing to keep payment LOW
- Initial Fixed Rate Period: 3, 5, 10 yr Options Available
- Loan To Value Limit: 70% (75% mixed use and apartments)
- Debt Coverage Ratio: as low as 1.20
IRA Rollover to Purchase a Restaurant
Borrower was downsized at NASA and wanted to start a new career in a business that he owned himself. Yes, he was unemployed. He wanted to open a Firehouse Subs in his hometown. But his lack of experience and collateral made him un-fundable in today’s environment. We did an IRA Rollover to get him ALL the money to start his restaurant. Soon, he will own his own business!
When other banks say no, we find a way to get it done! Do you know someone who needs funding? Look no further than David Garrett at Commercial Capital Lending.
