Colony American Finance aka Corevest Finance; any feedback?

Question

Anyone using them to share experience?

Eric Schleif · Answer

If you are cash-flow conscious it's usually a solid play even with the higher rate. You'll get a 30 year amortizing loan where most local banks will be offering 20-25 year amortizing loan.

Garrett V. · Answer

So far so good. Closed our loan and everything went as expected. I plan on doing much more business with them in the future.

Greg Downey · Answer

Corvest is on our lending platform and they do a great job.

Aristotle Kumpis · Answer

We had CoreVest out last month at our live event. They have some really good programs. They have a lot of experience, so I'd give them a call. I am personally looking at their line of credit program.

Garrett V. · Answer

@Brian H.

Corevest has been great, the only thing I don't love is the 10 year term 30 year am. I'd rather no balloon and a longer term but most commercial lending is like that from what I can tell. If anybody knows of a lender like Corevest that does 15 20 30 year amortizations with same term on commercial, please let me know.

Garrett V. · Answer

Cool thanks for the feedback. I will be starting the process this week with Corevest on a 7 property portfolio loan and then a 1mm LOC!

Bo Kim · Answer

Writing this review now as I have now worked with Corevest on multiple deals (portfolio loan - package of 9 properties, two rehab line of credits) and had a great experience working with Cecilia Lai (Line of Credit Funding Analyst). She is very professional and works hard to ensure we meet deadlines. I also would have not been a repeat customer if not for the diligent effort of my account manager Jeremy Lee who communicates really well and is able to find solutions to my funding needs. I will be honest and say they are not the cheapest route, but they get the job done. Will continue to use them for the foreseeable future.

Logan Turner · Answer

@Garrett V.Limaone will do 30 year fixed rates on SFH or portfolio loans. Ive been quoted 6.8 - 7.3 %. Anywhere from 60 - 80% LTV.

Brian H. · Answer

@Garrett V.

I hear that. Some different term offerings just make sense to me. Open yourself up to more potential borrowers and make more money... but that is just my simplistic look at it. I figure they have their reasons.

Colony American Finance aka Corevest Finance; any feedback?

Most Popular Reply