Frequently Asked Questions
What types of properties do you fund?
We fund most types of Commercial Real Estate properties, including but limited to 1-4-unit residential rental properties, multifamily, apartment communities, office buildings, retail, mixed-use commercial/residential, warehouse, light industrial, restaurant, hospitality, adaptive re-use, large commercial or residential renovation, self-storage, mobile home parks, and more.
We do NOT fund primary residences, raw/unimproved land, individual mobile homes, special use properties like car wash or bowling alley, on-site dry cleaning or other environmentally sensitive properties, or extremely rural properties..
What are your interest rates?
Interest rates are affected by many variables, including borrower credit, property type, location, loan-to-value (LTV), debt service, borrower’s experience level, and other factors.For our Long-Term Loan programs, rates typically range from 5% to 9.5%. For our Bridge Loan programs, rates typically range from 6% to 9.9%, with some rates in the 2% – 4% range for large, qualifying multifamily loans.
What is the loan term?
Long-Term Loans typically range from 5 to 30 years. Bridge Loans typically run 1-2 years, with extensions available.
What are the minimum and maximum loan amounts?
Our Long -Term Loan programs have a minimum loan amount of $100k, and maximum of around $7MM range. We also have large commercial loans available with loan amounts up to $50MM.Our Bridge Loan programs provide funding ranging from $1MM to over $30MM.
What is your maximum loan-to-value (LTV)?
LTV is up to 75%, depending on variables such as location, debt service, borrower liquidity, and credit.
How long does it take to get funded?
Much of this depends upon how quickly we can get the property appraised and the responsiveness of the borrower in getting required underwriting documents to our team. On average, allow 30-45 days from executed Term Sheet to funding, although we have funded Bridge Loans in two weeks where the borrower was responsive in providing required underwriting docs to our office.
What information are you going to need to see if I qualify for a loan?
To review a deal for possible funding, we only need high-level information, including property address, property type, estimated current value, current mortgage balance, desired loan amount, current monthly gross rental income from the property (if leased to 3rd party), annual property taxes, annual property insurance, annual property maintenance, borrower net worth, borrower liquidity, and borrower FICO. If any part of a commercial property is owner occupied, we will need annual Net Income of the borrower’s business that occupies the space. For commercial properties, we also need to know the square footage of the building and what each tenant does (type of business). If it is a purchase, we will need to know the purchase price.Click here to Request a Quote. Armed with this information, we can typically provide a “soft quote” of where we believe rate/term will end up. If the borrower wishes to continue, we will collect more information and issue a formal Letter of Intent.
Do you work with brokers?
Yes, we have over 12,000 brokers who send their commercial real estate deals to us on a regular basis. ALL BROKERS ARE PROTECTED.
Can I get funded if my credit is bad?
Yes. Bad credit is not necessarily a showstopper. That stated, our minimum credit for our Long-Term loan program is currently 620. For Bridge Loans, lower credit scores are typically not as much of an obstacle, although the minimum loan amount for our Bridge Loan programs is typically $1MM, but smaller bridge loans are available on a case-by-case basis with minimum credit of 600.
How do I know which loan program is right for me?
There are many variables that contribute to this answer. That is why we will advise you on your best available options.For example, if you have a property that is fully stabilized (high occupancy, strong income) it usually makes sense to look at a Long-Term Loan option. If your property is not yet stabilized (it is in lease-up stage, it is being purchased and needs rehab, etc.) it quite often makes sense to use a Bridge Loan until the point where the property is stabilized, then refinance into our Long-Term Loan.To find the best fit for your needs, click here to Request a Quote and answer all the questions. This will allow us to review and respond to your request on an informed basis.
How much can you loan on a cash-out refi?
Typically, up to roughly 70-75% LTV.
Can you fund foreign nationals?
Yes, we can fund foreign nationals, although the LTV may be slightly lower.
How do I get started?
Click here to Request a Quote and answer the questions COMPLETELY. The more accurate your answers, the quicker and more accurate your quote. We prefer not to speak with prospective borrowers until we have this basic information on the property. Otherwise, we will not have enough data to advise on next steps.
What states can you fund in?
We fund nationwide, except for North Dakota and South Dakota. Other regional restrictions may apply depending on the type of loan.
Do you fund outside the United States?
Not at this time.
Do you fund cannabis loans?
Yes. We provide commercial real estate loans for cannabis dispensary and grow operations. We fund warehouse, light industrial, and retail cannabis properties. We do not fund greenhouse only operations or raw land. For more information visit our Cannabis Loans page.