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… [Read More]
If you and the seller agree on the rate and terms, I suggest you utilize a note company to track your note payments, taxes and insurance. Running your note payments through a note company will do two things for you. First, you will have proof via the note company that you made your payments on time for… [Read More]
cc: by: //flic.kr/p/oQZQF4 What’s Closing at Commercial Capital Limited? Here 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… [Read More]
cc: by: //flic.kr/p/URfMfX The End of the Year Cometh- and That Very Soon! Believe it or not, the end of the year is upon us. Most banks have already switched to just focusing on closing the loans that are in their pipeline. Many banks have already issued their deadline dates-dates by which loans… [Read More]
First mortgage Bridge debt for Hotels and Assisted Living Facilities to 75% Loan To Cost! Loan amounts on the product range from $7 Million to $35 Million. Closings in under 45 days. Single digit rates! 3 years with interest only payments. This product is perfect for deals that need quick execution and high LTV. If… [Read More]
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