Results 1 to 4 of 4
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04-11-2024, 06:01 PM #1
- Join Date
- Dec 2022
- Posts
- 65
Looking for a commercial lender for nursing home refinance
Property Value 16mm
California
Owner Operated
Lmk what details you need
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04-11-2024, 07:59 PM #2
Too many options with too little information Your posting is like asking "how high is uip".
You need to reach out so we can determine what kind loan this merchant might qualify.
Is it NoDoc, DSCR, Full Docs or what?
Cash out refi, purchase, rehab or what?
Or do they need a working capital loan?
If it's a basic hard money property loan, I have been doing a lot of them.....have several lenders I use. Some are blanket loans covering all properties with one loan. Some require loan on each property.
You can finance investment property - residential 1 - 4 units, more than 4 units, mixed use properties, land, commercial property, agriculture, etc.
One has no Fico requirements.
Can get up to 75% Loan to Value cash out on these programs. If Fico below 650, LTV goes down.
Here are your options:
Bridge loan - 24 months Interest Only - runs around 11%. Can have no prepayment penalty up to 6 months to a year depending on the lender.
10 year interest only, amortized 20 after. This program has a bit of a lower rate and is good for rental properties as it offers the lowest payment. However, it does have a 5.4.3.2.1 prepayment penalty. Thats 5% first year, 4% second year, etc. You can buy down the prepay to 3 years for 1% cost. To 1 year at a 5% cost. AGain there are variations.
30 year fixed.....this is for long term fixed and the rate is the lowest of the two above. It also has the 5,4,3,2,1 prepayment penalty.
These loans are NoDoc (no income documentation) or SISA (Stated income stated assets)
You can also do a dscr on 1 - 4 units and the rates gets into the 8% range.
Reach out with questions or help.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.
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04-12-2024, 06:40 AM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,477
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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04-12-2024, 12:26 PM #4
Nathan Capital Group | https://nathancapgroup.com
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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