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dljnyc
21 Posts |
 Posted - 07/31/2008 : 09:38:37 AM
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I need a lender who can do a 4 unit mix use in NJ. Most lenders wont touch it unless it is 6 units because of some state law. I've sent it to 4 lenders already just to hear the same thing over and over again.
Who can lend on this property? I need to move fast. Thanks! |
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markapex
346 Posts |
Posted - 08/01/2008 : 06:30:05 AM
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Our LTV will be based on credit and cash flow, but we are a true lender and have no problem with mixed use in NJ. NJ regs mean no PPP and therfore no YSP on this deal, but we have a chance of getting it down for you.
Apex Mortgage is a commercial mortgage portfolio lender owned by First Trust Bank, FDIC. We are a small balance lender doing loans from $25,000 to $750,000 in 43 states. Our terms run to a max of 25 years, fixed or ARM with no balloons or lock-outs. We offer brokers the ability to earn 2 points in YSP.
While we are not a hard money lender, most of our deals are in the 575 to 660 credit score range.
We underwrite, process, close and service all of our loans. We never send files out to another company for any reason.
Mark Langman
Apex Mortgage
800-262-2739, ext. 221
215-283-8885 fax
mlangman@apexmtg.com
www.apexmtg.com
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dang007
90 Posts |
Posted - 08/03/2008 : 9:27:13 PM
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We are commercial mortgage brokers and we can help you. Can you define what you mean when you say "Stated" ? we are brokers. D
Does the property cash flow, or does you mean borrower can't prove personal income?
Please visit our website for more information about
our company at: wwww.precisionfinanceandrealtypartners.com
Best regards,
Dan Garfinkel
Commercial Markets Funding Specialist
Precison Finance and Realty Partners
Tel: (845) 784-6487
Fax: (845) 503-2438
E-Mail: DGarfinkel@precisionfinancenandrealtypartners.com
Website: www.precisionfinanceandrealtypartners.com
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ComLender
1266 Posts |
Posted - 08/04/2008 : 09:48:59 AM
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| Is the buyer going to occupy any of the property? Why stated? Will the deal work based on lease/business income. Might be able to help, but need a bit more information. |
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Bruce Holler
93 Posts |
Posted - 08/04/2008 : 10:17:30 AM
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Yes we can do this mixed use, as we have done these mixed use in NJ before.
Choice of fixed and fully fixed and amort to 30 yrs.
80%LTV, stated/verified. |
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EMScommercial
5138 Posts |
Posted - 08/04/2008 : 11:40:35 AM
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My wife is from there (Metuchen, NJ)..... Mixed use properties - they are the third highest number of entries in our database of lending sources.... currently = 209 for mixed use....
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... |
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dang007
90 Posts |
Posted - 08/04/2008 : 6:09:30 PM
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Dario,
We are commercial mortgage brokers. Can you define what you mean by stated ? Does the property cash flow or do yuou mean the borrower can't prove personal income?
Please call me at: (845) 784-6487 to discuss.
Our company, Precision Finance and Realty Partners is a commercial mortgage brokerage in real estate
financing and a real estate broker for the sale and purchase of commercial properties. The principal’s of
the company have many years of experience in the the real estate industry including financing, underwriting,
analysis, real estate development, sales and marketing etc..
Please look at our website at: www.precisionfinanceandrealtypartners.com
for more information about our company and the principals.
Precision Finance as developed close relationships with approximately 40 lenders that includes commercial banks,
non-bank financial institutions, hedge funds, private equity funds, investment banking, private investors, etc….
These core 40 lenders are part of the approximately 140 total financial sources Precision Financing maintains as
sourcing options.
Precision Finance and Realty Partners is a partnership of strong professional associations in the real estate industry,
with over 50 years of combined experience that offers expertise for most commercial real estate and business
ventures. Our principals come from different facets if the real estate industry and bring an expertise and different
point of view to every deal.
Our goal is to provide a sound solution for every transaction that is undertaken. We will initially review every deal
and consult with you and/or your client as to how we will proceed, discuss the reasons the transaction may seem
difficult and the specific nuances of the transaction, determine if we are logically able to assist, and ultimately we
will inform you at the onset whether we can or cannot help you.
We are realists that keep the entire deal in perspective, yet we are always prepared to think outside the box and
be creative. We don't just look at your loan and give you your options; we do our best in helping you structure your
transaction so that we can close your deal.
Sometimes a transaction does not meet underwriting guidelines, that is why we will make suggestions as to how to
restructure the transaction, give you options and tell you how to meet the transaction guidelines so we can bring
everyone [borrower and lender alike] to a mutually acceptable closed transaction.
As commercial funding and mortgage brokers we pride ourselves on the ability to bring multiple loan options to our
clients. Our expertise and understanding of our funding source's guidelines allows us the flexibility to make the
transaction work without compromising the integrity of the client or the lender, and allows for us in some cases to
negotiate terms with lenders through competitive and multiple lender alternatives.
We constantly are updating our lender pool information and adding and removing source funding in order to match the
market condition and client needs. Precision Finance and Realty Partners takes a professional approach to submitting
the loan request by packaging the transaction in an underwriting style package, structuring the transactions capital stack
if our lender doesn't provide the options, placing the necessary components together and going through a preliminary
review process of the file before submitting to our lenders.
Precisions Real Estate Divison is headed by a 20 year vet of commercial real estate development and marketing with a focus
on, but not limited to, income producing mixed use, office, multifamily, retail and hospitality property types.
By offering finance options to our clients we compliment our commercial real estate brokerage service, qualifying the client
if they need financing before looking at a property. As commercial real estate specialists we are willing to go the extra step
in finding properties that meets the client's requests and bring them properties that they otherwise might have overlooked.
We utilize both public and private means, all available technologies, information and good old fashioned leg work. We offer
our real estate clients a complete and superior commercial real estate service, blending traditional hard work with modern
technology, aggressive tactics and progressive ideas.
Best regards,
Dan Garfinkel
Commercial Markets Funding Specialist
Precison Finance and Realty Partners
Tel: (845) 784-6487
Fax: (845) 503-2438
E-Mail: DGarfinkel@precisionfinancenandrealtypartners.com
Website: www.precisionfinanceandrealtypartners.com
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