I have acces to private local private investment companies who fund commercial real estate loans based on the equity position of the project.The qualifying and terms are more flexible than working with a "Big Bank".Usually decisions are made within a few days.
Recent funded and closed April 2019 - El Monte for 6.5 million first trust deed on a industrial complex.This loan was based on the equity position of the first trust deed.The borrowers provided limited documentation.We were able to fund within a very short period. Three year term with a ballon due at end of term.
We base the the loans on the property equity,NOT ON YOUR CREDIT.
NO FINANCIAL STATEMENTS
NO TAX RETURNS
FAST FUNDING-LESS THAN 10 DAYS POSSIBLE."SUBJECT TO VERIFIED TITLE REPORT"
Typically,the first trust deed will be in first position and will not exceed 70% loan to value.I will check title and then we may order an appraisal or have an in house review and site inspection.
I know what is exactly needed to close a loan.Many transactions require limited documentation from the borrower.We can fund in the name of a LLC Corporation and Trusts.
All loan documents are produced in house usually within days of a loan approval.
Property Types in general are as follows.
Non owner occupied single family residences.Investment Commercial property.
UP TO 20 YEARS FULLY AMORTIZED
30 YEAR AMORTIZATION DUE IN 15 YEARS
NO PREPAYMENT PENALTY AVAILABLE
INTEREST ONLY TO 2-3 AND 5 YEARS .**HAS BALLON PAYMENT AT END OF TERM**
**OTHER TERMS AVAILBLE TO SUIT YOR SPECIFIC NEEDS**.
Please call Henry Munoz Real Estate Broker to discuss your project.310-975-9739 or email HMLoanofficer@Gmail.com