Commercial Financing
Financing For Commercial Real Estate Acquisition, Refinance, Construction/Rehabilitation & New Development
Geographic Area: U.S., Canada and the Caribbean
Commercial Financing Amount:
- Minimum loan amount is $1,000,000
- Maximum loan amount is $10,000,000
Commercial Financing Property Types:
- Apartments
- Assisted Living
- Hospital/Medical
- Hotel/Motel
- Light Industrial
- Medical/Dental Office
- Mixed Use Properties, Multifamily, Nursing Homes, Office, Retail, Senior Housing, Warehouse, etc.
Commercial Financing Loan Terms:
- Terms will be determined by property type, loan amount and findings during formal underwriting. Possible loan terms include:
- 5-10 year loans amortized over 10, 20, 25 or 30 years;
- 15-30 year loans amortized over 15, 20 or 30 years.
Commercial Financing Rates:
- Rates are calculated from cost of funds against either LIBOR, Prime or Treasury rates. This is determined based on property type, loan amount and findings during formal underwriting. Ranges are estimated between 6% -8% with no pre-payment penalties after 24 months.
Commercial Financing Loan to Value:
- Up to 80% depending on property type, loan amount and other factors.
- On new construction LTV 70% of after completion value.
Debt Service Coverage Ratio (NOI/debt service):
- Minimum 1.25x, varies by property type.
Recourse/Non Recourse:
- This can only be determined through formal underwriting.
Credit Score:
- Minimum credit score is 600 for recourse loans.
Turnaround Time:
- Usually a week or two to issue a Letter of Interest.
Commercial Financing Other Notes:
- Underwriting Fee: $2,500 – $9,500 (depending on loan size) to cover underwriting costs; paid only after/if an LOI has been issued.
- Application Process (typically 60-90 days)
Contact us to discuss your situation – there is no charge for our consultation.
Click Here To Submit Simple Financing Inquiry Form
*Rates, fees & programs subject to change without notice. Terms may be adjusted based on the characteristics of the transaction.
