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  1. #1

    Direct Lender Needed for $3M Assisted Living Facility Deal

    Looking for a Direct Commercial Real Estate lender that can lend on an Assisted living Facility in Colorado that can offer at least 80% LTV. The facility is fully staffed and has 2 locations within close proximity of each other. Currently generating around $1M a year and has been appraised at $3.1M. Borrower has 10%-20% to put Down. FICO score is a 656. If this is within your lending parameters let me know. Looking to close on this sometime soon after the new year
    Last edited by RickGLF; 01-02-2022 at 01:19 AM.

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    Irvine, CA
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    Can do 80% LTV on a a purchase. All states.

    Full Doc / Bank Statement 650 Credit required

    Loan Amounts $ 100,000 to $ 2,500,000

    Fixed Term and Amortization to 30 years

    Fixed Rates from 4.875% to 9.75%

    Up to 75% LTV on Refinances and 80% on purchases

    Most commercial property types

    Problem is Fico being close to the lower limit and mortgage credit pulls are generally LOWER than normal credit rating services. If the Fico falls below 650 in underwriting you will be denied. I'd work on getting the score higher. No up front fees except for appraisal and can close in 30 - 45 days.

    I split commissions on these deals, although the percentage is low as it is full docs, low interest rate. On this specific program lender charges 3% and splits with broker. I'll split my share 50%.

    This is a direct lender and has flexibility on deals.
    Last edited by Olderguy; 12-31-2021 at 08:46 AM.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  3. #3
    Quote Originally Posted by RickGLF View Post
    Looking for a Direct lender that can lend on an Assisted living Facility in Colorado that can offer at least 80% LTV on a 30 year term. The facility is fully staffed and has 2 locations within close proximity of each other. Currently generating around $1M a year and has been appraised at $3.1M. Borrower has 10%-20% to put Down. FICO score is a 656. If this is within your lending parameters let me know. Looking to close on this sometime soon after the new year
    We can do 80% or higher, and can close after new year. Give me a call 813-599-7048
    Lashelle Cobham | Team Lead
    Tampa FL, 33624
    Cell: 813.599.7048
    E-mail: lashelle@maximumcapitalgroup.com
    Visit us: www.maximumcapitalgroup.com

  4. #4
    Senior Member Reputation points: 16709
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    Jackson Hole Wy
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  5. #5
    GOAT ADVANCE! DIRECT LENDERS! CLEAN SHOP!

    Amanda Schuster
    Amanda@goatadvance.com
    443-797-9714

  6. #6
    Our real estate team can easily handle this deal, if the borrower has time we can do a long-term deal or 504.

    Email us @ funding@upwisecapital.com

    https://upwisecapital.com/real-estate-financing/

    Below is our mortgage loan calculator:
    https://upwisecapital.com/mortgage-calculator/

  7. #7
    Banned Reputation points: 6026
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    Sounds like this is a prefect fit for hybrid
    Email us today kevin@hybridadvancellc.com

    5k minimum funding -NO MAX $$$
    - 15-20 minute response time
    - 2nd - 5th position
    - Terms up to 120 days (weekly's upon approval)
    - 1.39 buy rates
    - Max Upsell to 15 points!
    - 35k a month average revenue
    - Minimum of 5 deposits per month
    - Commission paid after 3rd debit clears! (4 days)
    - Minimal stips (DL & VC)
    - Early Payoff Discounts
    - Docusign Contracts

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