| Author |
Previous Topic | Next Topic |
|
spitfire
17 Posts |
 Posted - 06/04/2008 : 08:30:52 AM
|
I'm new to commercial and have been shot down so far with this so I thought I would try here and see what happens.
249k rest/bar full doc customers are 639/728 mid score. They have 15% down. The problem is they have no prior experience in rest/bar(that's the problem). Hope I included all the info needed if not let me know what else I should provide. |
|
EMScommercial
5138 Posts |
Posted - 06/04/2008 : 08:40:30 AM
|
Spit... welcome online....
Here is a big issue with your post/scenario..... for that property type.... 15% downpayment is too low..... they will need to be putting AT LEAST 25% down.... and maybe up to 35% down.....
The lack of experience doesn't help either.... but do they plan to hire anyone with experience to run it? Why do they think they want to do this undertaking? restaurants are the hardest (statistically) business to keep going more than two years!
Sorry for the bah humbug words.... just the facts....
If you should have any future questions or other scenarios.... let me know....
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 350+ 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...
|
|
|
Matt W.
1927 Posts |
Posted - 06/04/2008 : 11:19:20 AM
|
70% ltv and I can help.
Thanks, |
|
|
| |
Previous Topic | Next Topic |
|
|
|
Search for: 
