A Small Balance Commercial Loan Special

My small balance commercial lender called me today and asked me to bring them a few loans so I asked them “What’s in it for my client?” at which they replied…

“How about if we waive the 1% Origination Fee for your client?” and then I thought to myself… “Hmmm, that’s not a bad deal, on a $500K loan amount saving $5000 may be worth exploring!”

“So, what else are you willing to do for my customer?”  I asked. They went on saying…”How about no appraisal fee, we’ll use our own internal property evaluation in lieu of an expensive full appraisal report?”

When I heard that I thought it’s worth sharing the news with you.  But you know me by now – if you don’t, you will soon – I am a very detailed individual.  I never want to portray something that appears too good to be true.  So, I got the rest of the details for a full disclosure to you.

  • The special is only good until the end of June
  • With the fee waiver in effect the only fees (for 1st position loans) are title, escrow, a small bank underwriting fee, and my company’s fee
  • Purchases and/or refinances (does not apply to LOC) available Nationwide
  • Rates in the 5 – 6% depending on the term
  • Minimum 700 credit required
  • DSCR of 1.2 or better
  • Max LTV for investment property is 70% and for owner-occupied is 75%

If you think this financing type may be worth exploring for your project, please review the program details HERE and then contact me for an evaluation of your deal.

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3 thoughts on “A Small Balance Commercial Loan Special

  1. Carmen
    Any interest in something like this:
    Retail refinance in Cincinnati.
    12,000 sf
    100% leased
    Owner occupied 25%
    $400,000 loan request

    Please let me know
    Dave

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