- Property Type : Retail
- Loan Type : Bridge Loan
- State : Florida
- City : Fort Lauderdale
- Funded Amount : $750,000
Bridge Loan | |
Property Types | 2-4 Units, Automotive, Bar, Car Wash, Carwash, Condo, Daycare, Funeral Home, Gas Station, Hotel, Industrial, Medical Facility, Medical Office, Mixed use, Mobile Home Park, Motel, Multi Family, Office, Restaurant, Retail, Self-Storage, SFR, Shopping Center, Strip Center, Warehouse |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $100,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 11% |
Points Minimum 1st TD | 2 |
Points Maximum 1st TD | 5 |
Terms | 6 month, 1 year, 2 year, 3 year, 4 year, 5 year |
Typical Days Required to Fund | 6-10 Business days |
Fees | Appraisal |
Cross Collateralize Blanket | Yes |
Intended Occupancy | Owner Occupied Business Purpose, Tenant, Vacant |
Recourse | Recourse and Non Recourse available |
Updated as of | 2024-04-06 |
Summary of all Guidelines | |
Loan Types | Bridge Loan, Commercial Loan, Hard Money Loan |
Property Types | 2-4 Units, Industrial, Mixed use, Mobile Home Park, Multi Family, Office, Retail, Self-Storage, SFR |
Lendding Area | alabama, arkansas, colorado, connecticut, delaware, florida, georgia, idaho, illinois, indiana, iowa, kansas, kentucky, louisiana, maine, maryland, massachusetts, michigan, minnesota, mississippi, missouri, montana, nebraska, new-hampshire, new-jersey, new-mexico, new-york, north-carolina, ohio, oklahoma, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, utah, vermont, virginia, washington, washington-dc, west-virginia, wisconsin, wyoming |
States Excluded | California |
Loan amount Minimum | $50,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 12% |
Interest Rate Maximum | 16% |
Points Minimum 1st TD | 3 |
Points Maximum 1st TD | 5 |
Terms | 6 months, 1 year, 2 years, 3 years, 4 Years, 5 years |
Interest Only or Amortized | Interest Only |
LTV Bridge Refi No Cash Out | 65 |
LTV Bridge | 65 |
Minimum value per property or unit | 250000 |
Special Features | BK, Foreclosure, Short Sale or Loan Mod Limited seasoning, Blanket, Foreclosures, Low FICO score, No minimum FICO Score, No third-party appraisals, Note acquisition |
Rural Acceptable | No Rural |
Gelt Financial was founded in 1989 and is based on the core values of hard work, transparent services and products, and exceeding the highest of expectations in everything we do. As a company, we have accomplished a lot that we can be proud of. We have helped over 10,000 hardworking people finance their investment properties, making a better life for themselves.
WE HAVE PROVIDED OVER $1 BILLION IN FINANCING SINCE 1989!
Gelt does not shy away from complicated and difficult financing situations. We work with business owners and commercial real estate investors across the country on all types of cash-flowing assets. We work with clients who would not qualify for traditional bank financing due to quick closing, poor credit, not enough documentation, or other challenging situations.
BORROWERS
[] Deal directly with the decision-makers
[] Credit problems understood
[] No income verification. Qualification and self-employment programs
[] Fast approvals and closings
[] Flexible products to meet your needs
[] Collateral based lending
[] Interest only terms
[]Loans to an LLC
[] Non-recourse lending
[] Investment Properties Only
MORTGAGE BROKERS
[] Mortgage Brokers are protected
[] Mortgage Broker friendly
[] Deal directly with the decision makers
[] Credit problems understood
[] No income verification, qualification and self-employment programs
[] Fast approvals and closings
[] Flexible products to meet your clients needs
[] Collateral based lending
[] Interest only terms
Gelt Financial recognizes that 'one size does not fit all,' and as such, we want to give our borrowers more choices and input in designing the right terms that fit their needs.
ONE SIZE DOES NOT FIT ALL.
We offer:
- Non-recourse -- first mortgages on stabilized income producing real estate
- Rush deals -- we work with our borrowers to meet their time frames
- Prepayment and lock periods -- can be waived or customized to meet the goals of the borrower
- Term -- we will offer terms up to 5 years
- Real Estate and Tax Escrow -- we will give the borrower the choice if they want us to escrow their real estate taxes and insurance, or if they want to pay them on their own.
- Documentation -- we will waive unnecessary documentation and offer light documentation loans
- Fixed-Floating -- the borrower can choose if they want a fixed or a floating rate
- Rate -- we offer competitive rates
- Appraisals -- no appraisals required
All of this is designed to let the borrower have more flexibility in designing the mortgage terms that best fits their needs.
Gelt Financial is located in Boca Raton, FL. They offer financing for Bridge Loans, Hard Money Loans and Commercial Loans. The property type they primarily lend against is SFR, 2-4 Units, Multi Family, Office, Industrial, Retail, Mixed use, Mobile Home Park and Self-Storage. Their minimum loan amount is $50,000. Their maximum loan amount is $5,000,000. They offer loans for a minimum Term of 3 months. Maximum duration of 6 months;1 year;2 years;3 years;4 Years;5 years. Although rates can change they are typically lending at a minimum rate of 12%. Maximum interest rate of 16%. Points charged are deal specific, but historically have charged a minimum of 3. Maximum points charged are 5.
These descriptions are limited information and meant for general reference purposes.