Looking for a commercial lender for nursing home refinance
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  1. #1

    Looking for a commercial lender for nursing home refinance

    Property Value 16mm

    California

    Owner Operated


    Lmk what details you need

  2. #2
    Senior Member Reputation points: 72398 Olderguy's Avatar
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    Sep 2021
    Location
    Irvine, CA
    Posts
    2,244

    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.

  3. #3
    Senior Member Reputation points: 338265
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    Mar 2015
    Location
    Boynton Beach
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    3,472

    Quote Originally Posted by Loading View Post
    Property Value 16mm

    California

    Owner Operated


    Lmk what details you need
    Huntington National Bank
    Live Oak Bank
    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

  4. #4
    Senior Member Reputation points: 4567 NickHubbard's Avatar
    Join Date
    Jun 2015
    Location
    Saint Louis, Mo
    Posts
    333

    Quote Originally Posted by Loading View Post
    Property Value 16mm

    California

    Owner Operated


    Lmk what details you need
    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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