Commercial Programs & Guidelines - Alternative Lending Branch
Our sole purpose is to fund loans. More specifically, we exist to fill the gap where lending restraints have left many qualified applicants without access to funding. Our custom oriented underwriting approach allows us to not focus on the borrower but rather on the asset itself in order to provide an innovative financing structure that meets their needs. We get the job done in days! Nationwide Programs.
Eligible Property Types
• Office Buildings
• Apartment Buildings
• Mixed-Use
• Medical/Dental Facilities
• Warehouses
• Restaurants/Bar/Club
• Industrial- Light/Heavy
• Commercial Condos
• Condo Projects
• Retail/Single/Multi/Centers/Stores
• Gas Stations/Auto Centers Flag or No Flag
• Hotels/B&B/Motels Flag or No flag
• Agricultural
• Manufacturing Facilities
• Auto Facilities
• Leisure & Gaming
• Land- Rural/Urban
• Owner Occupied Business
• Single Tenant Buildings
• Non-permitted Structures
• Self Storage/Mixed Buildings
• Mobile Home Parks/RV Parks/Parking Lots- All Type
Eligible Types of Borrower
• Owner, Non Owner Occupied or Investment
• Sole Proprietorship, LLC or Corporation
• Foreign Nationals
• Visa, Green Card, or None
• Borrowers in Bankruptcy
• Borrowers in Foreclosure or Bailouts
• Owned by Sole Proprietorship, LLC or Corporation
• Borrowers in Probate/Trust
• Trust, Living Trust, Non Revoke
• Attorney in Fact
Eligible Types of Loans
• Owner User, Non Owner Occupied or Investment
• Purchase Money
• Refinance
• Cash out (No Cap)
• Property Listed for Sale
• Foreclosure/Bankruptcy Bailouts
• Mezzanine Debt/2nd- Purchase
• Properties in Probate/Trust
• Mezzanine Debt/2nd- Refinance/Cash Out
• Purchase Plus Construction
• Purchase Plus Rehab
• Refinance Cash Out Plus Construction
• Refinance Cash Out Plus Rehab
Alt-B Express Commercial Program - Asset Based Loan
• LTV up to 70% (75% ltv case-by-case)
• Loan Term: 1, 2, 3, 5, and 7 years
• Loan Amount $70,000 - $7,000,000
• Interest Only or Amortized Over 30 or 40 Years
• Interest Rates: 8.99% to 12.99% Risk Base Pricing
• No Prepay Penalties- first 6 months
• Cross Collateralize for Maximum Loan Amounts
• Not Fico Based, Bad Fico or No Fico OK
• DSCR: NO Minimum Debt Service Ratio
• Sole Proprietorship, LLC or Corporation
• No Occupancy Minimum/Vacancy OK
• No Upfront Fees Ever!
• Low Pricing Available/Risk-Based Pricing
• Stated Income/Siva/No Doc
• After Repair Value Allowed/Future Value OK/No Reserves Needed
• No title seasoning/Next Day Value Ok/Non Recourse Option
• BK Chapter 7,11,13 OK/Debtor in Possession Program
• No Net Worth or Liquidity Requirements
• No Appraisal Needed Program
• No Min or Max Loan Amounts/Interest Only Option
• Fastest Close Loan in 7-10 Days
J
Commercial Portfolio Program
• LTV up to 65%
• Loan Term: 3 or 5 Years
• Loan Amount $70,000 - $7,000,000
• Amortized Over 25, 30, 40 Years
• Interest Rates: Start 9.99%
• Pre-Payment Penalty 3 Years or 5 Years/Step Down or Yield Maintenance
• Owner User Needs to Only Occupy 35% of Building, Minimum Qualifying DSCR 1.1
• Program Alt-USER1: 660+ Fico 65% Max Ltv Purchase, 65% Max Ltv Refinance, Min DSCR 1.1, 70% Ltv Min DSCR 1.20,
• Program Alt-USER2: 600+ Fico 60% Max Ltv Purchase, 60% Max Ltv Refinance, Min DSCR 1.1, 65% Ltv Min DSCR 1.20
• Program Alt-USER3: 560+ Fico 55% Max Ltv Purchase, 50% Max Ltv Refinance, Min DSCR 1.1
• Full Recourse Only
• Vacancy Max 20%
• No Upfront Fees Ever!
• Par Pricing Available/Program Based Pricing
• Full Doc Building Underwriting, Building Full Financial Package, Owner User Business Underwriting
• Light Reserves Needed
• No BK or Foreclosures 3 Years
• No Net Worth and Liquidity Requirements
• Fastest Close Loan 20 Days
What is DSCR (debt service coverage ratio)
DSCR or Debt-Service Coverage-Ratio is a calculation using the income property's annual Net Operating Income or NOI and then divided by the loan's annual debt service to formulate a ratio. Many of our programs require no minimum DSCR. Example if a property has a NOI of $25,000 and the loan has a debt service of $20,000, the DCR would be 1.25.
Ex. 25,000 / 20,000 = 1.25 DCR = 1.25