If you need to use 100% of the appraised value, than typically
banks/lenders want you to own the property 24 months. If you have owned
the property less than 24 months, the lender will use the value from
either the purchase price or percentage of the appraised value.
For the longer fixed term loans, you typically need to have a loan amount above $1 Million.
conventional commercial loans have a prepayment penalty. You said you
wanted a 25/30 year fixed rate, are you planning on holding it for that
length of time? The reason I ask is if you get a fixed rate for 25/30
years, there is a yield maintenance prepayment on the loan which makes
paying off the loan early very expensive due to the type of prepayment
The typical term on a commercial loan is where the rate
is fixed for either 3 years, 5 years, 7 years or 10 years and amortized
over 20 years, 25 years or 30 years. The most common conventional commercial loan term is the 5 year fixed rate with a 20 year amortization.
If you go with one of these shorter fixed terms, the prepayment penalty
is typically a step down. A step down is if you get a 5 year fixed
rate, than there typically is a 5 year step down prepayment penalty.
So if you decide to pay off the loan the first year of having the note,
than you will pay 5%. If you pay off the loan the second year of having
the note, than you pay 4% etc.
You need to know your goals. Are your are going to hold the property for 3 years, 5 years up to 30 years? Once again, the most common conventional commercial loan term is the 5 year fixed rate with a 20 year amortization.
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What's Closing at Commercial Capital Limited?
is a look at some recent closings within the last 3 weeks. I like to
post these every month or two to just give you a feel for some of the
things that are happening in Commercial. The business and
commercial lending marketplace is particularly hot right now-we got
flooded with 35 loans the last 3 days of November. Most have been
denied by other banks but we are getting them done with bank type
financing in most cases! If you need a loan closed, if actually
getting the money is the most important thing to you...give me a call!
I will screen the deal and pre-underwrite it for FREE. We are the
only no-risk option in commercial. Give me a call today at
1: $452,000 Debt Consolidation/Foreclosure Rescue with Our Own Private Money in Alabama.
2: $784,500 Business Only Purchase of a Gas Station in California
3: $775,000 Purchase Single Tenant Property in New Hampshire
4: $350,000 Franchise Start Up of a Which Which brand in Virginia
5: $3,600,000 7a SBA refinance on equipment in San Antonio
First mortgage Bridge debt for Hotels and Assisted Living Facilities to 75% Loan To Cost!
you do not need your deal to close in 45 days or less, we have more Construction Loan Products that can go as high as 85% LTC.
Wishing You the Best,Karen Schimpf Commercial Capital, Ltd.p: 512-650-8630e: KarenSchimpf at gmail.comwww.linkedin.com/in/karenschimpf/blog: http://bizloansconnections.com/
When most lenders say no, we say yes. Almost 100% of our closed loans
were denied somewhere else BEFORE coming to me. When you call me, I
quickly pre-view the loan and if doable, kick out terms at no cost to
anyone. Once you move forward with us, we sink our teeth into the deal
and have the tenacity to get that deal done even in today's highly
regulatory environment that seems to still be hindering lenders even
with all the money available in commercial. It is really simple, if you
want to close the loan, give me a call at 512-650-8630 and let me make
it happen for you. Just one call can get it done! Call Me today-512-650-8630 or e-mail me your scenario at karenschimpf at gmail.com ! Talk to you soon!
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$400,500 Start Up Franchise Loan!
Not only was this a start up loan, it was a newer franchise with only
2 locations opened last year-yet we got it done. The borrower had been
denied by 12 other banks but we got it done with an SBA 7A loan....we
are THE place to go when the banks say no!
$255,000 Private Money Loan to pay off collections!
This was a pharmacist in the Northeast that owed a supplier a huge
amount and his entire business was threatened if he did not pay off the
debt. But he had some Real Estate with a lot of equity and we did a
private money loan against the real estate to get him money fast and get
the collection paid. Now, he is freed up to get on with his
business....fast private money, it is OUR OWN FUND...and the money is
available on all commercial real estate for whatever use you need, even
paying off collections or the IRS. We have the money you need....
$318,000 Debt Consolidation Loan!
This was a past client who had 2 Firehouse Subs and needed to
consolidate his debt. We paid off his existing debt and saved him over
$2000 a month. Now, to put that in perspective, if a business runs 10%
net profit margins, then $2000 a month in savings is the same as an
extra $20,000 a month in sales-that is HUGE! Consolidating debt is a
major way to get your business healthy. Give us a call, maybe we can
help you or someone you know save money. We are a total business
solution. One call does it all-call me today at 512-650-8630.
And we are not just business loans, we bring the same creativity and
depth of knowledge to real estate loans as well. And we have unlimited
capital for real estate based loans, up to $50 Million or more. So if
you or anyone you know has a business or commercial loan need, give us a
call at 512-650-8630. Commercial Capital, the place to go when the banks say no!
P.S. WE have money and we do not charge ANYTHING to get you to that
term sheet. We NEVER CHARGE APPLICATION FEES that are NON-refundable.
That's right, we are the ONLY NO RISK OPTION IN COMMERCIAL. I will
preview your loan and, quickly determine whether we can get it closed or
not and if so, we will have terms in 48 hours from receipt of the basic
docs. No cost, no risk. We close you or we make NOTHING. IF YOUR
CURRENT BANK IS SAYING NO OR WORSE...TAKING FOREVER TO DECIDE, GIVE ME A
CALL TODAY. I will have you quick answers and, you'll be on your way to
P.S. Who do you know needs a commercial loan? I
specialize in Small Business Administration Loans (SBA), Private Money
Loans, and Commercial Loans. I help entrepreneurs attain financing for
their business or project. I BRING COMMERCIAL MONEY FROM AROUND THE
COUNTRY TO LOCAL MARKETPLACES INSURING THE MOST LIKELIHOOD OF CLOSING.
The key is placing the borrower with the lender that most suits that
borrower's strengths. I do it better than anyone. Give me a call today
at O:512-650-8630 to get your loan closed.