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leol

17 Posts

Posted - 05/20/2008 : 08:35:18 AM

2 family house + barber store.

Income $7,600 a month.

Yearly expenses $8,700 + mortgage.

Mortgage $578,000.

C/O Refi $778,000.

Worth about 1.1 mil.

Fico 621.

NY.

What is rate will be?

What is max LTV?

Thank you.

Matt W.

1811 Posts

Posted - 05/20/2008 : 09:36:33 AM

Low to mid 9's. Call or email to discuss further.
Thanks,

leol

17 Posts

Posted - 05/20/2008 : 09:47:33 AM

Thank you,

Matt

They do have 8.25% now.

gman1958

274 Posts

Posted - 05/20/2008 : 10:21:40 AM

Leo,

A few questions before a good quote can be given:

owner occ or NOO?
actual loan amount requested($778,000?)
why only a 30 yr mtg?
DSCR?

With his fico score, the opportunites are limited, max ltv will be around 75-80%. In order to get the property to debt service, the ltv may need to be reduced.

Please contact me to discuss.

thanks

kenvphan

452 Posts

Posted - 05/20/2008 : 10:55:36 AM

I can offer something in the low 7's for this deal. Thanks

EMScommercial

4749 Posts

Posted - 05/20/2008 : 10:57:46 AM

I'd say - on the surface - that you are looking at:

70-75% ltv max
8's for rates

Please let us know if we can help you with your commercial scenario(s) - I'm sure that if there is any financing options for your clients out there, we can find it in our vast internal database of commercial lending sources of which we are direct brokers for (currently stands at 325+ entries as of today (lenders, banks, private money, hedge funds, pension funds, insurance companies, etc.)).

Eclipse Mortgage Services is the proverbial 'head of the snake'... the end of that broker chain.... next step - the lending source.....

** We issue a mutual NCND to protect both sides!! **

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 receive your submission and an account managers will be assigned. Within one business day you will be contacted - starting 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...

PinnaclePeters

1026 Posts

Posted - 05/20/2008 : 3:58:42 PM

If the "2 family house" is occupied by tenants, and not our borrower, I can do this on a 30 fixed with no balloon and no "lock-out" up to 75% LTV at 8.50% paying <1.00>YSP.

Our fees are $2300, collected at closing on the settlement statement.

Simple.

simply commercia

77 Posts

Posted - 05/22/2008 : 4:58:37 PM

with a low fico don't expect low rates. I would like to discuss this file with you and explore the options.

Mark_GMC

536 Posts

Posted - 05/27/2008 : 09:51:44 AM

We have a definite interest in your scenario, though well need a few additional details in order to provide the most accurate pricing and deal terms. Fortunately our online submission form takes only a minute to complete. Please find the link below and call if you have any questions.

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