Long Term Commercial Loan
- LG508
- LG508
Summary of all Guidelines | |
| Loan Types | Commercial Loan |
| Property Types | 2-4 Units, Agriculture, Assisted Living, Automotive, Bar, Car Wash, Carwash, Church, Condo, Daycare, Entertainment Venue, Funeral Home, Gas Station, Hotel, Industrial, Land Entitled, Land Non-Entitled, Manufactured Home, Medical Facility, Medical Office, Memory Care, Mixed use, Mobile Home Park, Motel, Multi Family, Office, Place of Worship, Restaurant, Retail, Self-Storage, Senior Care - Commercial Property, Senior Care - Low Income, Senior Care - Residential Property, SFR, Shopping Center, Skilled Nursing, Special-Use, Strip Center, Student Housing, Warehouse |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000 |
| Loan amount Maximum | $30,000,000 |
| Interest Rate Minimum | 8% |
| Interest Rate Maximum | 13% |
| Points Minimum 1st TD | - |
| Points Maximum 1st TD | - |
| Terms | 1 year, 18 month, 2 year, 4 year, 5 year, 3 year, 5 / 6 month ARM, 5 / 1 year ARM, 7 / 1 year ARM, 7 year, 7 / 6 month ARM, 10 year, 10 / 6 month ARM, 20 year, 15 year, 10 / 1 year |
| Typical Days Required to Fund | 31-40 Business days |
| Credit Score Min | 600 |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Fees | Appraisal |
| Entities | Corp - Corporation, Individual, LLC - Limited Liability Corporation, LP - Limited Partnership |
| Extensions Available | Considered based on Performance |
| Cross Collateralize Blanket | Yes |
| Lien Position | 1st, 2nd |
| Max Points Charge by Broker | No max |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant, Owner Occupied Business Purpose, Vacant |
| Fixed or Adjustable | Adjustable |
| Recourse | Recourse |
| Reserve Requirement | 6 months |
| Program Code | LG508 |
These descriptions are limited information and meant for general reference purposes.
