Multi-Family and Mixed Use Funding
If you are looking for an easy, no hassle source of fixed funding..
for residential or commercial properties, then this may be the product for you. We offer both 3, 5 & 7 year fixed rates based on a 30 year amortization. Our lending group requires a minimum 650 credit score & and a full appraisal on the property. Limited borrower financial documentation is required, We fund up to 70-75% of the property appraised value fast and with no hassles. This loan product funds on a current appraised value, not an after repair/improvements value.
If you are looking for a loan for a rehab, see rehab funding. If you are looking to lock in financing for the next 3-5 years with rates significantly lower than “hard money”, this may be the loan program for you.
Criteria & Guidelines
| Application Response Time | 24 hours |
| Processing & Closing | 10 – 21 day Turnaround |
| Loan Type | 1st Mortgage Deed of Trust |
| Max/Min Loan Amounts | |
| 1-4 Units | $2,000,000 / $100K |
| 5+ Units | $5,000,000 / $100K |
| Max Loan to Value | 75% Appraised Value 5+ Units |
| 70% Appraised Value 2 to 4 Units 65% Commercial Retail, Offices |
|
| Credit Score | 650+ Minimum |
| Borrower Investment for purchase | 0% Minimum |
| Property Types | Non-Owner Occupied Single Family, Multi-Family Mixed Use, Office, Retail, Warehouse, Light Industrial |
| Term/Amortization | 3 & 5 Yr Fixed 30 Yr Fully Amortizing (Others Available) |
| Rate: | 8.49-9.99% |
| Points | 2-4 points |
|
Fees |
|
| Application Fee | $350 |
| Underwriting & Commitment Fee | $1,395 |
| Appraisal/Broker-price opinion | $300-$2,500 |
| Document Prep | $500 |
