US Commercial highlights the Loan Product of the Week

[Stephanie P.]

Short term loan product designed for rehab of 5+ unit commercial apartment buildings.

80% loan to cost

Max loan to value for ARV is 70%

Rates between 9 and 11, interest only

3 points total.

Minimum loan amount 100K

Just found an 11 unit building that needs the renovation completed.  It's been owned by the current owner for almost 3 years while they've done their renovation.  It's got 9 of the units rented and the other 2 are uninhabitable.  No mortgage on the property currently and the goal for the borrower is to get cash out to do it again.  No problem.  Valued at 300K. Max ltv is 70% or 210K.  9.5% with 3 points on a 24 month interest only. Borrower has a 730 middle score.

Call the office to go over your scenario to see if you qualify

Stephanie

202-491-6461