Have a client looking to take out 150K or more on his commercial property....purchased in 2009 for 500K and is paid off.....merchant personal credit is 700+.
Looking for lenders that can do this
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Have a client looking to take out 150K or more on his commercial property....purchased in 2009 for 500K and is paid off.....merchant personal credit is 700+.
Looking for lenders that can do this
It is Owner Occupied or NOO?
Vacant or occupied?
NoDoc or SISA (stated income stated assets)?
How long does he want it?
Bridge (2 years) or traditional (30 years)?
5,4,3,2,1 prepay or 1 year or 6 months on bridge?
Reach out..I have about 25 property lenders...need more information.
If this is a primarily owner occupied (51% or more), I can help structure a deal. We would be looking for historical or at least projected cash flow. The pricing will depend on a number of factors including the property type, business industry, cash flow strength, etc
We are a direct lender, no broker chains or splitting your referral fee. Deal directly with the source.
If client wants a fast closing we can get this done in 7 days.Quote:
Originally Posted by vloforti
Ben Zuniga
bzuniga@omegafund.com
www.omegafund.com
Now offering a 1 Page Bank Statement Program
· Self-Employed Borrowers Only
· Page 1 of the Business Bank Statement reflecting the company on the P&L, not used for income
· Qualify off the P&L only: nothing more, nothing less
· 12 or 24-month P&L OK
· Purchase LTVs up to 90%
· Cash-Out LTVs up to 80%
· Loan Amounts up to $4MM
· Minimum FICO of 620
· DTI up to 50%
· 50% business ownership required
· Qualify off the borrower's share of the bottom line. It's that easy!
PM me for more info