Mid-Size commercial loans - Commercial Loan Direct

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Mid-Balance Wholesale Commercial Mortgages

Commercial Loan Direct offers a very competitive and flexible multifamily wholesale loan program. This program is designed for commercial real estate transactions from $1 Million up to $10 Million.

 

Mid Balance Loans - Requirements

Loan Size $1Million to $10Million
Occupancy Owner Occupied & Investment
Minimum Personal Credit Score (FICO) 650 - No Bankruptcy
Acceptable Markets Urban/Suburban Areas
Acceptable Collateral Industrial, General Offices, Creative and Professional Office Space, Anchored Retail, Factory Outlets, Mini Storage, Health Care, Special Purpose, and Hospitality
Preferred

-Multi-Use Properties

Loan To Value 65-75%
Minimum DSC 1.3-1.45x (property type)
Amortization Up to 30 yrs
Management Experience -Prior Ownership & Management Preferred
Prepayment Penalty NO PREPAYMENT PENALTY
Assumable Yes 1% fee
Taxes & Impounds Not required
Origination Fee 2.5% (loans < $3Million)
2.0% (loans > $3Million)
Replacement, TI, Leasing Reserves Case by Case
Minimum Occupany Not required
Rate Lock At time of final underwriting
Estimated Closing 90 days
Availability Nationwide

 

Soft Quote Submission Requirements

  • Loan request summary - amount, purpose, sources and uses.
  • Property operating statements - prior three years' statements (as applicable), plus year-to-date
  • Rent roll
  • Property photographs
  • Market/submarket information - current rents and vacancy rate
  • Borrower financial information - net worth, liquidity, FICO and CRE experience

Get a free Mid-Balance wholesale Commercial loan quote today

In its prequalifying review, Commercial Loan Direct will attempt to estimate both the loan amount and the fees and costs associated with the transaction. Actual loan amounts and actual fees and expenses may vary from the prequalifying estimates. A prequalifying estimate is not a commitment to make a loan.