Joseph E. McCluskey
Senior Mortage Consultant
http://www.Biz-guide.com
(206) 417-2111   Seattle, WA 98155

Investment Property - Competitive Terms

If one of these loan products fits your needs, let's get it submitted to my lender/s. We start with a questionnaire. Request my Financing Questionnaire by email or phone. Joint Ventures of more than 10 million are invited.

 

Multifamily Lending Programs

Property Types:

Multifamily and Mobile Home Park (20 units and greater)

Loan Amounts:

$1.0MM - No limit

Terms:

5,7,10,15, 20 Years

Amortization:

15-30 Years

Minimum DSCR:

1.20X

Maximum LTV:

80% < $5MM /  85-90% > $5MM

Recourse:

Recourse and Non Recourse options (Depending on loan size and quality)

Rate Benchmark:

US Treasury Bond

Margin:

80-190 bps

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity required

Prepayment - Defeasance or Yield Maintenance

Assumption- Allowed

Escrows- Required for Taxes and Insurance

Third Party Reports:

PCA- Property Condition Report

Phase I - Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package

 

Commercial Lending

Property Types:

Retail/ Office/ Industrial/ Warehouse- Distribution/ Self Storage

Loan Amounts:

$1.0MM - No limit

Terms:

5,7,10,15,20 Years

Amortization:

15-30 Years

Minimum DSCR:

1.25 - 1.40X

Maximum LTV:

80% < $5MM /  85-90% > $5MM

Recourse:

Recourse and Non Recourse options (Depending on loan size and quality)

Rate Benchmark:

US Treasury/FHLB Rate/SWAP Rate

Margin:

80-400 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity required

Prepayment - Defeasance/Yield Maintenance/Fixed Declining

Assumption- Allowed

Escrows- Varies based on loan size and asset quality

Third Party Reports:

PCA- Property Condition Report

Phase I - Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package

 

Hotel Lending

Property Types:

National Flags Only

Loan Amounts:

$1MM - No limit

Terms:

5,7,10,15 or 20 years

Amortization:

15-30 Years

Minimum DSCR:

1.35X

Maximum LTV:

80-85%

Recourse:

Recourse and Non Recourse options (Depending on loan size and quality)

Rate Benchmark:

US Treasury Bond

Margin:

100 - 250 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity required

Prepayment - Defeasance/Yield Maintenance

Assumption- Allowed

Escrows- Required for taxes and insurance

Third Party Reports:

PCA- Property Condition Report

Phase I - Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package

 

Owner Occupied Programs - NEW - ask about 97% LTV Owner Occupied up to 1.5 mil. 650+ FICO

Multi-Purpose Properties

Property Types:

Retail/ Office / Industrial / Manufacturing

Loan Amounts:

$500K - 30MM

Terms:

Adjustable or 2,5,10,15,20 and 25 years

Amortization:

15-30 Years

Minimum DSCR:

1.05X- Acquisition / 1.20X- Refinance

Maximum LTV:

90%

Rate Benchmark:

Prime/FHLB/Swap Rate

Margin:

50 - 450 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity not required

Prepayment - Declining fixed

Assumption- Allowed

Escrows- None

Third Party Reports:

Phase I - Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package

Rate Lock:

60 days from executed Commitment

 

Special-Purpose Properties

Property Types:

Restuarant / Daycare/ Healthcare facility

Gas- Convenience Store/ Hotel -Motel

Car Wash/ Car Dealerships/ Auto Related

Loan Amounts:

$500K - 15MM

Terms:

Adjustable 2,5,10,20 and 25 years

Amortization:

15-30 Years

Minimum DSCR:

1.05X- Acquisition/ 1.50X- Refinance

Maximum LTV:

85%

Rate Benchmark:

Prime/FHLB/Swap Rate

Margin:

75 - 600 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity not required

Prepayment - Declining fixed

Assumption- Allowed

Escrows- None

Third Party Reports:

Phase I- Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package

Rate Lock:

60 days from executed Commitment

 

Stated Income Programs

Owner Occupied Property Loans

Property Types:

Office/ Industrial/ Retail/ Auto Related

Loan Amounts:

$500K - $2MM

Terms:

Adjustable 2,5,10 and 30 years

Amortization:

30 Years

Minimum DSCR:

1.25X

Maximum LTV:

90%

Rate Benchmark:

Prime /Libor/ Swap Rate

Margin:

75 - 600 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity not required

Prepayment - Declining fixed

Assumption- Allowed

Escrows- None

Third Party Reports:

Phase I- Environmental Survey 

MAI Appraisal 

Application Fee:

None

Funding:

45 days from complete due diligence package

Rate Lock:

60 days from executed Commitment

 

Investment Properties

Property Types:

Office/ Industrial/ Retail/ Auto Related

Loan Amounts:

$750K - $2MM

Terms:

Adjustable 2,5, 10 and 30 Years

Amortization:

30 Years

Minimum DSCR:

1.25X

Maximum LTV:

75%

Rate Benchmark:

Prime/ Libor/ Swap Rate

Margin:

75 - 600 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity - Single Purpose Entity not required

Prepayment - Declining fixed

Assumption- Allowed

Escrows- None

Third Party Reports:

Phase I - Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package

Rate Lock:

60 days from executed Commitment

 

Specialized Lending Programs

Bridge or Mezzanine Finance Programs

Property Types:

Multifamily/Mobile Home Park

Office/Industrial/Warehouse

Retail

Loan Amounts:

$500K - $10MM

Terms:

Varies- Based on asset quality

Origination Fees:

1% and up

Minimum DSCR:

1.05x

Maximum LTV:

50-75% (Subject to asset type)

Interest Rate:

8 - 16%

Geographic Location::

Nationwide

Closing:

10-20 business days

Recourse:

Typically required

Lien Position:

First Mortgage or deed of trust (Second positions considered)

 

Equity Investment Programs

Property Types:

Multifamily/Anchored Retail/Office/Industrial

Investment Amounts:

$250K - $10MM

Investment Terms:

Typically up to 5yrs

Control Rights:

The bank or assigns is granted an accelerated means to assume control of borrowing entity in the event of default by co-owner.

Equity interest is typically secured by prorata interest in general and limited partnerships that comprise property ownership.

DSCR:

1.15X

Maximum LTV:

95% (Sponsor must contribute a minimum of 5% hard equity)

Rate:

Typically priced with a target IRR which is realized through a combination of origination fees, a preferred pay rate, and a "lookback" payment due upon sale or refinance.

Acknowledgement:

First mortgage lender required to acknowledge the bank's equity position.

Co-Owner has recourse obligation for 1st mortgage assumption fees.

Geographic Location:

Primary and Secondary markets preferred. (Nationally)

Closing:

Borrowing Entity- Single Purpose Entity required

Prepayment- open

Escrows- Required for Taxes and Insurance

Third Party Reports:

PCA- Property Condition Report

Phase I- Environmental

MAI Appraisal

Application Fee:

None

 

Construction Lending

Property Types:

Retail/ Office/ Industrial or Flex space

Multifamily/ Mobile Home Park (No Residential Condos)

Investment Amounts:

$1MM - $200MM

Terms:

12-36 Months

Ammortization:

Interest Only

Minimum DSCR:

1.25 - 1.50X

Maximum LTC:

90% (Primary Markets)

85% (Secondary Markets)

Recourse:

Subject to project quality and sponsorship strength

Rate Benchmark:

LIBOR

Margin:

100 - 350 basis points

Geographic Location:

Nationwide

Closing:

Borrowing Entity- Single Purpose Entity required

Prepayment- open

Escrows- Required for Taxes and Insurance

Sponsorship:

Previous experience in asset type required.

Sponsorship Liquidity:

Minimum of 10% of project costs.

Third Party Reports:

Phase I - Environmental Survey

MAI Appraisal

Application Fee:

None

Funding:

45 days from complete due diligence package
Request Questionnaire at joseph@biz-guide.com