small balance mortgages - apartment mortgages - low interest rates - loan guarantee - low closing costs & no application fee

Small Balance Commercial Mortgages Nationwide

CLD offers streamed line small commercial loans featuring low interest rates with no application or appraisal fees. The small balance program comes with a rate/fee match guarantee which guarantees to match or beat an offer (*rate and fee combination).

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Loan Type Property Type * Loan Amount Max LTV Term Length Amortization Rates
Small Balance A, I/W, M/H, MU, O, R, SS, **SP $250K - $750K 80% 5-15 Years 5-25 Years Fixed or Variable
A = Apartment I/W = Industrial/Warehouse M/H = Medical/Healthcare MU = Mixed Use O = Office R = Retail SS= Self-Storage
**SP = Auto Repair, Convenience Store, Convalescent Home, Health Club, Gym, Gas Station, Daycare, Preschool, Nursery, Theater
Additional Information: | Key Features | Loan Types | Product Comparison | Loan Forms
Key Features
FeesNo application fee, No appraisal fee, 1% origination fee.
*Rate Guarantee If you can find a better priced product by another lender and this product can not match the competitor's $200 will be awarded to you. Learn more here: Rate Guarantee
$250 credit Applied to the customer’s account within 3 billing cycles when automatic payments are set up at funding.
Mortgages
Refinance MortgagePay off an existing mortgage on property with cash-out opportunities.
Purchase Mortgage Purchase property. The borrower will be required to pay title and escrow fees associated with purchase mortgages.
Equity MortgageFinance business needs by using equity in the property.
Loan Amount Financing up to $750,000 on purchase and refinance mortgages in 1st lien position.
Maximum $500,000 for cash-out, and equity mortgages in 2nd lien position.
Terms Fixed: 5/5, 10/10, 15/15, 25 due in 10, 25 due in 5, Prime-based: 5/5, 10/10, 15/15, 25 due in 10, and 25 due in 5
Other Payments are fixed for a year, but rate floats with Prime, Subject to a floor rate of 4%

Product Comparison

  Real Estate Purchase & Refinance Equity & Line of Credit
Min-Max amount $250,000- $750,000 (1st lien position) $250,000-$500,000 (cash-out and equity mortgages in 2nd lien position)
Use of funds Large purchases, refinances, and property improvements Working capital, property improvements, Use of funds property improvements business expansion, purchase of large equipment or property
Annual fee No Annual fee No 25 bps of LOC, $250 min, $1,000 max, waived 1st year, and only assessed during draw period
Early closure fee Fixed: None $3,000 when closed within the first 3 years Prime-based: $3,000 when closed within the first 3 years$3,000 when closed within the first 3 years
Prepayment fee Fixed: 3% of loan amount in years 1 through 3. No prepayment fee after that.
Prime-based loans: None
No prepayment fee
Interest Rate Fixed or Prime-basedPrime-based (Note: at repayment conversion, Interest rate Fixed or Prime-based customer may request a fixed rate.)
Max LTV or CLTVUp to 80% on Purchase Mortgages; and up to 75% on all other mortgages/line depending on property type, lien position, and/or geography

Preparing your Financial Package - Loan Forms

Please use these forms when assembling a new financial package.