NEW PORTFOLIO LENDER – QUICK CLOSINGS! Non-recourse Acquisition/Refinance Program for Most Commercial RE Nationwide. No new construction – renovations O.K.
This is NOT a Fannie Mae, Freddy Mac, FHA, CMBS or Life Insurance company funding source. It is a non-conventional fund set up to take advantage of the current difficulties in obtaining loans from conventional sources. The rates are competitive to conventional loans and the terms are better! The pool of funds is substantial using common sense underwriting criteria. They use one technique for underwriting so that they can make quick, definitive decisions. THEY FUND AND SERVICE THE LOANS in their own portfolio. We are associates of the primary qualifying entity and underwriter. Loan amounts are based upon loan risk, loan to value, loan to costs, debt coverage ratios and debt yield rations, NOT off of discounted note values. Call Harry Hallows at 210-454-8295 or email harry@hallowsrealtycapital.com. We will have a conference call with the underwriter. See basic parameters and UNIQUE FEATURES below.
A,B, & C properties in primary and secondary markets considered.
MULTIFAMILY up to $75MM, $5MM minimum in selected markets nationwide.
OTHER COMMERCIAL up to $200MM, same minimum.
Up to 75% LTV , or 70% on a cash out refinance (Not based on discounted note amount or current balance.) (70% of cost if property has been held by borrower for less than two years.)
Up to 75% LTC on Acquisitions.
30 TERM AND AMORTIZATION, NO CALL. Rate adjustment at 5,7 or 10 years. No l0 year option on Other Commercial.)
1.25 DCR. Operating statements very important.
NON-RECOURSE. Lower rates if recourse.
NO ESCROWS. (Helps with DCR and NOI.)
EXISTING MAI APPRAISAL acceptance to be determined. Must be reissued to new lender.
New appraisal, if required, YOU PICK QUALIFIED MAI APPRAISER.
APPROX. 45-60 DAY CLOSE, depending on appraisal. (Others take about the same time, but have higher net worth requirements and use discounted note as index of value)
Prepayment: 5-4-3-2-1 NO LOCK OUT!
Origination fee depends on loan size.
Must have complete package.- CALL FOR A CHECKLIST. No doc loans at slightly higher rates.
This is NOT a Fannie Mae, Freddy Mac, FHA, CMBS or Life Insurance company funding source. It is a non-conventional fund set up to take advantage of the current difficulties in obtaining loans from conventional sources. The rates are competitive to conventional loans and the terms are better! The pool of funds is substantial using common sense underwriting criteria. They use one technique for underwriting so that they can make quick, definitive decisions. THEY FUND AND SERVICE THE LOANS in their own portfolio. We are associates of the primary qualifying entity and underwriter. Loan amounts are based upon loan risk, loan to value, loan to costs, debt coverage ratios and debt yield rations, NOT off of discounted note values. Call Harry Hallows at 210-454-8295 or email harry@hallowsrealtycapital.com. We will have a conference call with the underwriter. See basic parameters and UNIQUE FEATURES below.
A,B, & C properties in primary and secondary markets considered.
MULTIFAMILY up to $75MM, $5MM minimum in selected markets nationwide.
OTHER COMMERCIAL up to $200MM, same minimum.
Up to 75% LTV , or 70% on a cash out refinance (Not based on discounted note amount or current balance.) (70% of cost if property has been held by borrower for less than two years.)
Up to 75% LTC on Acquisitions.
30 TERM AND AMORTIZATION, NO CALL. Rate adjustment at 5,7 or 10 years. No l0 year option on Other Commercial.)
1.25 DCR. Operating statements very important.
NON-RECOURSE. Lower rates if recourse.
NO ESCROWS. (Helps with DCR and NOI.)
EXISTING MAI APPRAISAL acceptance to be determined. Must be reissued to new lender.
New appraisal, if required, YOU PICK QUALIFIED MAI APPRAISER.
APPROX. 45-60 DAY CLOSE, depending on appraisal. (Others take about the same time, but have higher net worth requirements and use discounted note as index of value)
Prepayment: 5-4-3-2-1 NO LOCK OUT!
Origination fee depends on loan size.
Must have complete package.- CALL FOR A CHECKLIST. No doc loans at slightly higher rates.
