Commercial Mortgages & Apartment LoansRanked #1 Online Business & Apartment Mortgage Lender
Commercial & Apartment Loans - Nationwide
Commercial Loan Direct ('CLD') a division of CLD Capital, is a commercial mortgage correspondent lender and apartment mortgage banker originating for its own portfolio. CLD has partnered with institutional lenders, life insurance companies, banks, hedge funds, real estate investment trusts, and government sponsored agency lending programs including; Fannie Mae, Freddie Mac, FHA, SBA, and USDA. These partnerships bring our Borrowers over 200 financial programs to choose from nationwide. With a focus on commercial loans over one million dollars, a diversified mix of financing products, a state of the art online commercial lending platform, and a staff of experienced professionals, CLD provides a cost-efficient solution for apartment lending and commercial real estate financing.
"I felt confident through the process that things were under control, that my interests were being protected... [my loan officer] was always a pleasure to talk to and work with all the way through a successful closing..."Success Lending Stories
Apartment Mortgages Department
Apartment loans are secured by multifamily properties with 5 or more units that can generate rental income. Multifamily properties include; apartments, senior housing, student housing, affordable housing, manufactured housing or a combination of these.
CLD provides agency based lending for apartment transactions over $1Million including; Fannie Mae (FNMA), FHA, Freddie Mac, and USDA. These transactions are regulated by their corresponding agencies and offer a great alternative to conventional financing.
Conduit-CMBS loans and life insurance mortgages are also available to finance apartment loans. These loans offer non-recourse, aggressive pricing, long terms, and amortizations for well positioned properties in primary and top secondary markets.
Our firm offers conventional apartment loans nationwide on transactions over 1$Million. Preferred markets are primary and secondary but we can consider tertiary markets on a case-by-case basis. Loan-to-value can go up to 80% and in some cases up to 85% (by exception). These apartment loans showcase a low prepayment penalty and additional underwriting flexibility.
Bridge and/or mini-perm mortgages are available to reposition or stabilize multifamily buildings when CLD provides the permanent take-out financing.
Commercial Mortgages Department
Commercial loans are an agreement made between a business entity and a financial institution where the financial institution provides funds in exchange for secured or unsecured debt. A commercial mortgage is a loan secured by a commercial property. Commercial property is any land or building that is used to generate a profit. The property can be owner occupied, in which the business that inhabits the property also owns the property or it can be investment property, in which the property owners inhabit less than 50% of the leased space or do not inhabit the space at all. Residential property is only considered commercial property if there are 5 units or more in the dwelling in which case it is called multifamily housing. Other commercial properties subcategories include retail, office, warehouse, storage, industrial, medical, farm, garage, and hospitality.
CLD provides financing solutions for both owner occupied and investor properties. CLD's government agency sponsored commercial programs for owner occupied properties include; SBA-504, SBA 7a, and USDA B&I. Our company also offers conventional programs from both owner occupied and investment properties. CLD's preferred real estate properties include; office, retail, industrial, hospital & healthcare, self storage, church, hotel and mixed use. We also offer construction and bridge-interim financing to stabilize commercial real estate properties.
A CMBS Loan, also known as Conduit Loan, is a type of commercial real estate loan that is secured by a first-position mortgage on a commercial property such as an apartment complex, office building, self-storage facility, hotel, or large industrial warehouse. These loans are packaged and sold by Conduit Lenders, commercial banks, investment banks, or syndicates of banks.
A CMBS Loan has a fixed interest rate (which may or may not include an interest-only period) and is typically amortized over 25-30 years, with a balloon payment due at the end of the term. Because the loans are not held on the Conduit Lender’s balance sheet, CMBS Loans are a great way for these lenders to provide an additional loan product to Borrowers while at the same time maintaining their liquidity position. Additionally, because of the more flexible underwriting guidelines, CMBS Loans also allow CRE investors that cannot usually meet stringent conventional liquidity and net worth guidelines to be able to invest in commercial real estate.
In addition to more traditional loan to value (LTV) maximums of 75%, and debt service coverage ratios (DSCRs) of at least 1.25x, underwriting guidelines are also calculating the anticipated debt yield (net operating income/loan amount) of at least 7-8%. Additionally, Borrowers should expect to have “hard cash” equity invested in their projects, while being able to maintain a post-closing liquidity of at least 5% of the loan amount and an overall net worth of at least 25% of the loan amount.
USDA Lending Department
USDA notes are created to provide financing for a business entity in a rural market. The purpose of these notes is to support the local businesses that make up the economic community in population centers with less than 50,000 people.
CLD offers USDA lending products backed by commercial real estate mortgages. These real estate transactions typically range from $1 Million to $20 Million, are guaranteed by the US government and backed by real estate (including apartment complexes), FF&E, and/or equipment.
SBA Lending Department
An SBA loan is a type of commercial note that is created to provide financing for a small business that cannot typically obtain financing through conventional products. The purpose of the loan is to help develop or expand a small business by providing a Small Business Association guarantee for a portion of the loan. This lowers the risk for the lender, who is covered by the SBA guarantee for a portion of the repayment of the note in the case of default.
CLD offers SBA lending backed by commercial real estate mortgages. These transactions typically range from $1 Million to $10 Million, are guaranteed by the US government and collateralized by real estate, FF&E, and/or equipment.
CLD in the News...
Our firm transacts millions of dollars in new commercial mortgage requests monthly. With extensive experience in the commercial real estate financing industry, CLD has grown into a leading originator of debt by combining our expertise and knowledge in the underwriting, processing, and closing of business and apartment loans.
CLD's Financing Approach
CLD originates commercial and apartment mortgages nationwide. Our primary concentration is on commercial real estate transactions over $1 Million. By focusing our departments on small, mid, and large balance commercial real estate mortgages, our firm provides some the most comprehensive financing solutions for apartments and commercial real estate transactions in the market-place. CLD is one of the top three online originators of CRE mortgages in the United States.
"CLD was most helpful from answering my initial questions to the follow up... We would not have been able to start this business without CLD."Success Lending Stories