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Kewgah
104 Posts |
 Posted - 11/20/2007 : 2:38:41 PM
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| Has anyone done one of these streamlined commercial loans? What kind of experience have you had with them? |
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Matt W.
2164 Posts |
Posted - 11/20/2007 : 3:26:48 PM
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Sure you don't mean stated? We do stated income and asset and have very low DSCR standards..about as streamlined as it gets I think.
Stated loans start at $100k for most commercial property types.
Please call or email for Par pricing and products.
Thanks, |
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INTEGRITY FINANC
646 Posts |
Posted - 11/20/2007 : 11:07:44 PM
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My name is Patrick Sadhu and I am Wholesale Account Executive with Integrity Financial Group of Orange California. Integrity Financial Group is a Nationwide Commercial Lender with a Residential / Commercial Hardmoney Program in California only.
Commercial Loan Highlights:
Programs available with credit scores down to 580
Easy Submission process
Loan Amounts to $ 15,000,000.00
Stated Income / Assets Programs up to 85% LTV–90% CLTV
Stated up to $ 1.0 M with low debt service requirements
Full Doc Programs up to 90% LTV
LTV / Credit Min – Max
90% 680 85% 700
70% 580 65% 580
Ability to utilize DSCR and or DTI
Property Types:
5+ Multi-Family Mobile Home Park Mixed Use
Car Wash Retail Rooming Home
Office Buildings Restaurant / Bar Warehouse
Hotel / Motel Automotive Day Care
Self Storage Light-Industrial Special Purpose
RV Parks
Call Patrick Sadhu
Tel. 916-343-7559
Fax. 916-409-0753
Email: psadhu@ifgloans.com
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Kewgah
104 Posts |
Posted - 11/21/2007 : 04:34:08 AM
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quote:
Originally posted by Matt W.
Sure you don't mean stated? We do stated income and asset and have very low DSCR standards..about as streamlined as it gets I think.
Stated loans start at $100k for most commercial property types.
Please call or email for Par pricing and products.
Thanks,
Yes, I mean SISA
I only mentioned 'streamlined' as compared to conforming commercial loans.
I'll be contacting both of you for rate sheets. I have a 1099 client looking to refi an office space. He is rate driven. May the best man win!
Thanks for the contact info. |
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Bruce@Met-West.c
256 Posts |
Posted - 11/21/2007 : 07:41:13 AM
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I have do stated commercial loans, 100k to 1M.
Call now for pricing, options, and YSP
Bruce Holler
Metwest Commercial Lender
bruce@met-west.com
503 740 2195 phone
305 808 3442 fax
If you don't call me today I can't make you any money
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EMScommercial
5141 Posts |
Posted - 11/23/2007 : 4:24:11 PM
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| ouch... two met-west'ers on one posting! |
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swmsn
4209 Posts |
Posted - 11/24/2007 : 09:44:52 AM
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LOL
Scott let me try on pricing as well.
You need to educate your borrower and take him out of the rate game.
In Commercial a loan truly doesn't come down to rate.( you'll see because he is shopping you as you shop us. ) This will be an impulse decision and based on trust and value the Lender or broker creates with him.
I could offer a rate or 8.75% and Lender X has 8% which is better? You have to dig deeper. I may have a 30yr AM vs a 20yr or 25yr and my payment is lower. Or your borrower may be looking to pay this off sooner and having a 15yr is perfect for him. Lender X could have a PPP that is very long and not declining enough where mine is set up not hurting the borrower. No lock outs vs lock outs. Longer fixed period vs shorter fixed period. What if your borrower only wants to keep this property in this loan for 5 years and then sell or remodel? You price this guy with the lowest rate on a 3yr Fix with a non declining PPP. Yet your competition understood the borrowers needs and gets your borrower a slightly higher rate fixed period of 5 years and PPP that fits. Your guy will go with your competition because they understood the goals and may of helped educate your borrower on the structure of the loan and why.
Its free to get pricing and options so contact me if interested.
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