Do You Need A Commercial Real Estate Loan
Posted on Lycos Classifieds - 2 weeks ago
- Category:
- Financial Loans
- Location:
- Angels Camp, CA
Features & Description
$5 Billion AvailableAssisted Living & Multifamily Program
Acquisition & Refinance
Property Types:
• Multifamily - Mixed Use
• Assisted Living - Student Housing
• Mobile Park Housing - Acquisition & Refinance
Terms and Conditions:
Loan Size $1, 000,000 / No Maximum
Pricing Tired Pricing Matrix. More favorable pricing available for higher DSC and lower LTV.
Loan Term 5 to 30 years - Amortization Up to 30 years
Minimum DSC 1.15 for a variable rate / 1.20 for fixed rate
Maximum LTV 75% - 80% LTV
Adjustable Rate Available. Priced off the one month or three month LIBOR. Convertible and non convertible options available.
Eligible Property Multi-Family, Mixed- Use, Assisted Living,
Eligible Borrower Single asset entity
Occupancy Requirement 90% physical occupancy
Tax & Insurance Escrows Monthly deposits required. May be waived if certain criteria met.
Recourse Non-recourse with standard exceptions of fraud and misrepresentation can be waived for 100% restricted properties.
Commercial Space Maximum 20% of net rentable area and maximum 20% of effective gross income
Required Reports Appraisal, property condition, assessment and phase 1
Prepayment Yield maintenance or defeasance
Assumable Subject to approval and 1% fee
Supplemental Loans Eligible for secondary financing after 12 months
Closing Closing within 45 to 60 days
Mark V. Jones
Commercial Real Estate Services
Committed to Service. Dedicated to Close. Since 1992
Central Coast Direct Phone Line: (805) 234-4100 CA. Dept of Real Estate# 01119658
Central Valley Direct Phone Line: (209) 736-0518 E-mail: mvjonesloans@aol.com Web: www.mvjonesloans.biz
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