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MarjorieD
27 Posts |
 Posted - 04/24/2008 : 2:57:28 PM
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I have a residential client who is interested in buying an office building in Kalispell, Mt for $350,000. He is an attorney with great credit, great income, great assets.
How much would he need as a down payment and what are typical rate/terms for commercial?
Thanks!
Marjorie |
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GlennP
160 Posts |
Posted - 04/24/2008 : 3:06:07 PM
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Hi Marjorie,
Will this property be occupied by the attorney or will this be an investment property for him? If this is an investment property he will need to come up with 20%down....If he will be occupying the office building we have an SBA option and depending on the strength of the deal and borrower we can possibily lend up to 90LTV. Give me a call so we can go over the scenario more in detail, thanks.
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ComLender
1253 Posts |
Posted - 04/24/2008 : 3:14:47 PM
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| Call or e-mail me to discuss. |
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EMScommercial
4749 Posts |
Posted - 04/24/2008 : 6:43:34 PM
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What is the credit? above 720?
80%-85% ltv is the norm... there is a possibility higher...
Our network of over 325 commercial funding sources which we are direct brokers for (lenders, banks, private money, hedge funds, insurance companies, etc.) - NATIONWIDE ... and Beyond!!! - could be just what you need for such a deal..... (the number changes regularly - adding and removing to meet our clients' needs) to our internal - proprietary database.....
We do all the legwork - finding the lenders interested and getting the documents to them.... receiving the letters of intent and organizing them in sensible order for your clients..... we should work together on your deals.... let's talk!
** We issue a mutual NCND to protect both sides!! **
Eclipse Mortgage Services is the proverbial 'head of the snake'... the end of that broker chain.... next step - the lending source....
We currently have 241 lending sources for this type of property in our internal database! This will help us find just the right loan for your client!!
Please contact me asap so we can get this taken care of! Just a note... if you call and I am not available at that time to talk, any one of my highly trained account managers can help you as well.
Remember... We only get paid when the thing funds!
Hyperlink to our page for submissions - very straight forward and simple - http://www.eclipsemortgageservices.com/body_contactme.php - we will instantaneously receive word of you submission and one of our account managers will be assigned and within one business day, you will be contacted and we can start the process!
Check out our BASIC RATE/TERM sheet to get an idea if your scenario is 'in the ball park' and then contact us to start the ball rolling to get specific numbers for your loan! http://www.EclipseMortgageServices.com/aaaaaEMS_ratesheet.pdf
Thank you... |
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lorie
480 Posts |
Posted - 04/24/2008 : 7:37:34 PM
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If the property is going to be owner occupied we can go 90% LTV.
Lorie
Coast Investors
305-446-9125
ldupuy@coastinvestors.com |
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Matt W.
1811 Posts |
Posted - 04/25/2008 : 08:58:58 AM
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| Typically 75% ltv is going to get you the best rates. We offer a up to a 30 yeart term / amortization period if desired. |
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mcmoney
284 Posts |
Posted - 04/25/2008 : 09:27:20 AM
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| I'd love to do a 30 fixed due in 30 for 'ya at 90%, but can't do it Montana.... In fact, you may want to check with the lenders you're speaking to about MSA requirements... |
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