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ahulderman
27 Posts |
 Posted - 05/09/2008 : 2:16:12 PM
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| I am looking for a wholesale commercial lender that will do a stated/stated, 70%LTV,200k, Owner Occupied,Cash-out refi, 3200+ square foot office and warehouse on almost an acre of land. Any ideas? |
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lmany
36 Posts |
Posted - 05/09/2008 : 3:16:06 PM
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| InterBay Funding will. 866-468-3722 |
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Reegor
440 Posts |
Posted - 05/09/2008 : 3:21:05 PM
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| Wells, CLC, Bayview, Interbay, |
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gman58
7 Posts |
Posted - 05/11/2008 : 3:46:14 PM
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Amanda,
we would need to know the fico score on this. NOt too many stated programs left! probably need at least a 650 to get this done. Why cant we we go full doc. You know that the commercial lenders look at the building not the borrower to see if it can debt service.
Please contact me to discuss...
thanks
quote:
Originally posted by ahulderman
I am looking for a wholesale commercial lender that will do a stated/stated, 70%LTV,200k, Owner Occupied,Cash-out refi, 3200+ square foot office and warehouse on almost an acre of land. Any ideas?
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Matt W.
1801 Posts |
Posted - 05/12/2008 : 08:57:48 AM
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We can help you with this scenario. Par pricing available.
Please call or email. I am in Oregon as well.
Thanks,
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EMScommercial
4700 Posts |
Posted - 05/12/2008 : 09:25:05 AM
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What are you attempting to 'state'? Even if a commercial lender says that they will go 'stated'.... you will still have to show ability to repay.... Can you do that?
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SFPartnersLLC
58 Posts |
Posted - 05/14/2008 : 1:41:27 PM
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| I can go stated down to 620 on the mid score. |
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brihabes
87 Posts |
Posted - 05/14/2008 : 1:43:47 PM
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| curious if anybody has used Velocity on any commercial deals recently |
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rneriz1
15 Posts |
Posted - 05/14/2008 : 1:46:24 PM
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| You need to fill out one of my business expense forms. There is not true "stated" on commercial. With me or anyone else the building has to pay for note. |
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PinnaclePeters
1023 Posts |
Posted - 05/14/2008 : 3:35:16 PM
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We have a "stated" personal income product for commercial properties (called "Simple Doc"), but it requires a DSCR of 1.50 and the income must be reasonable for the line of work.
DSCR is calculated based on accepted personal income, personal expenses, minimal property expenses (1.5%), business expenses and subject property payment. Minimum DSCR of 1.50 must be met. No tax returns or financial statements are required. No 4506.
Minimum is $250k, up to $2M max.
680 score for 70% purchase or 60% R/T, 700 required for cash-out to 50% LTV max.
Check out our website for more details.
(Not available in all States. We don't have a "stated State" program yet). |
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