FREQUENTLY ASKED QUESTIONS
REAL ESTATE LOANS
2. Where do you offer financing?
In all 50 states, in areas that are not too rural.
3. What type of properties do you finance?
Single-family homes, multifamily, condos, townhouses, offices, industrial/warehouse, mixed-use, retail, and more. We currently do NOT lend on primary residences, land, or mobile homes.
4. What is the minimum credit score?
It will vary depending on the loan program, but we do have no credit check options.
5. How quickly can transactions close?
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The general range is 2 to 4 weeks, depending on factors such as: receiving required transaction information, underwriting, appraisal, title work, and providing documents needed for fianl approval/closing.
6. Are there closing costs?
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Yes, all transactions will have closing costs, which may include: origination & underwiriting fees, legal & title fees, property insurance, applicable taxes, etc., These vary for each loan scenario and are disclosed upfront.
7. Are you a direct lender?
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We are brokers with an extensive network of over 50 private lenders. Our knowledgeable and experrienced staff will help you close transactions easily with the best terms and rate available.
8. What is the current interest rate for commercial mortgages?
Our interest rates range between 6% and 14%. That said, your final interest rate will be calculated based on the strength of the whole application (property type, location, credit score, real estate investment experience, etc.). Please apply and we will give you a free no-obligation quote.
9. How much do I need as a down payment for a commercial real estate loan?
20% up to 40% in most cases.
10. How can I get a term sheet or Letter of Intent (LOI)?
We will need the following documents to provide you an offer: 1003 Application, copy of a sales agreement or recent mortgage statement (for re-financing), a recent copy of your credit report (all pages), and 3 months of business or personal bank statements.
Once received we will provide you with a term sheet in 2 to 3 days, in some cases could be the same day.