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simply commercia
77 Posts |
 Posted - 05/01/2008 : 9:00:12 PM
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subprime
3564 Posts |
Posted - 05/14/2008 : 6:22:44 PM
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Danielle
What do you mean Single Use Property Ok? Is that the same as Single Fam?
Do you allow for less than 5 units if title is held in an LLC?
Also, if the seller will carry a 2nd, what CLTV will you go too? Will you lend 80% if the seller will hold 20% for 100% CLTV? |
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Quicksilver
4378 Posts |
Posted - 05/14/2008 : 9:45:55 PM
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quote:
Originally posted by subprime
Also, if the seller will carry a 2nd, what CLTV will you go too? Will you lend 80% if the seller will hold 20% for 100% CLTV?
Doubt it, you won't find a lender in Commercial allowing that, borrower could walk away with no equity risk. 90-95% cltv is max and sometimes less, depends on property and situation (how much downpayment etc). |
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BizMoney
9 Posts |
Posted - 06/04/2008 : 11:14:07 AM
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| It is possible to get 100% financing on SBA deals but rare. Also know of some lenders wrapping a loan around the residential owner occ. property in a cross-collateralization to get to 100% on the purchase oc an owner-user commercial property. |
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