Jul 08 '09, 03:44 AM100% LTV COMMERCIAL PURCHASE FINANCING, WORLDWIDE
Loan Amounts from $1M to $1B
100% LTV FINANCING- [b]
Either the property or the borrower must support the debt service.
The property must be at least 20% below market value.
30 yr term, 6% interest fixed rate, non recourse
Borrower must have a 680 FICO score, with no mortgage lates or derogs
No upfront fees of any kind: 5 points origination charged at closing
No equity positions required
Loan can be used to purchase property, and, if seller permits, to rehab as needed.
10 days to loan pre-approval, closing in 45 days
Eligible properties include:
Office buildings, apartments, shopping centers, office to condo conversions, medical condos, residential condo projects, assisted living, medical centers, self storage, industrial, warehouses and much more.
Documentation required: Completed loan application ( attached) , credit report.
Lender will order appraisal at Buyers cost. 10 days to loan pre-approval, closing in 45 days. Lender will choose local approved title or attorney for closing.
