Collateral Loan needed for client 3M no mortgage
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  1. #1

    Cool Collateral Loan needed for client 3M no mortgage

    Have a client looking for 2.1M with collateral.

    The property is in Hawaii valued around 3M. The property is free and clear of any mortgage but has 2 commercial loans of about 300k each.

    He has some MCA's as well and is looking to consolidate everything into one payment all in all he has 1.2M in debt.

  2. #2
    Senior Member Reputation points: 73140 Olderguy's Avatar
    Join Date
    Sep 2021
    Location
    Irvine, CA
    Posts
    2,285

    He is looking for 70% LTV cash out. 2.1M by $3M.

    #1 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



    #2 Full Doc 620 Credit required

    Loan Amounts $ 200,000 to $ 10,000,000

    Up to 75% LTV

    Amortization 25 or 30 years

    Term: 5,7 & 10

    Fixed Rates from 4% to 6%

    Recourse: Full and partial

    Property Types: Multi-Family, Mixed Use, Office, Retail, Light Industrial/Warehouse, Self-Storage, Commercial Condo, Mobile Home Parks, Investment Residential (1-8 Units), Short Term Rentals, Automotive, Restaurants (including quick service), Parking Lots/Garages



    # 3 N Doc 620 Credit required

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

    Fixed Term and Amortization to 30 years

    Fixed Rates from 7.75% % to 10.75%

    Up to 75% LTV

    Most commercial property types



    Non-Prime - more flexible lite income doc

    Loan Amounts $ 100,000 to $ 1,500,000

    Fixed term and amortization to 25 years

    Fixed rates from 7.99

    Up to 70% LTV

    Most commercial property types



    Bridge

    Loan Amounts from $ 1m to $ 10M

    Interest only terms 1 to 3 years

    Rates 7.99% to 10.99%

    70% of As-Is Value and 75% ARV

    Most Commercial property types
    Steve Benjamin
    Professional Business Loans

    522 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
    Direct lender here, no broker chain.

    We have several options depending on the property type, cash flow, etc.
    Dan Wallace
    SVP
    Enterprise Bank
    National, direct SBA lender
    Fast and creative financing solutions
    970-390-6650
    dwallace@enterprisebank.com

  4. #4
    Ali Chughtai
    Business Development Partner
    40 Broad St NY, NY 10004
    Hanover Capital Group
    929-409-9849.

    I will give you the best rate possible please contact me and let's make a deal.
    Thank you.

  5. #5
    Interested
    Andrew Goldthorpe
    Desk 707.521.0911
    NewPoint Mortgage Wholesale
    Andrew.Goldthorpe@NewPointMortgage.com
    NewPointMortgage.com

  6. #6
    Member Reputation points: 10
    Join Date
    Jan 2019
    Location
    New York
    Posts
    6

    This deal should not be hard. Discuss the skeletons in the closet.
    Chris Cambridge
    Blue Note Assets
    (888) 835-3640 x 888
    assets@bnassets.com

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