Commercial Hard Money

COMERCIAL HARD MONEY GUIDELINES

CONTACT WITH COMMERICAL DEPARMENT

Unfortunately due to volume of transactions the commercial area is unable to take phone calls until a Loan Overview has been submitted. Please submit a Loan overview and our Commercial Area will be in touch with you shortly. Please note any questions that you may have in the provided section. The Commercial Area will then answer any additional questions you may have upon follow up.

PROPERTY TYPES WE LEND ON

• Multi Family
• Office/ Commercial
• Strip Mall/ Retails Commercial
• Income producing Properties

AREAS SERVICED

Any properties WEST of the Mississippi

MINIMUM LOAN AMOUNT

$500,000

MAXIMUM LOAN AMOUNT

$2,000,000

LIEN POSITION

Must be First Lien Position on then property

MAXIMUM LOAN TO VALUE

50%
(This is loan to value not after repaired value. The current value of the property. This is established as a liquidation sale price for the property typically 1-6 month sale price.)

BORROWER DOWN PAYMENT

It is required for the borrower to have cash into the deal. A minimum of 5% of borrowers own funds must be in the deal. However it is preferred that 10% or more of borrower funds are in the deal.

EXIT STRATEGY

We are looking for the borrower to have a solid exit strategy. We are looking for take out financing, or a sale of the property or any other exit strategy that can be substantiated.

LAND

We currently do not lend on any land whatsoever. We also do not do any development loans in any capacity.

AVERAGE POINTS CHARGED

16%

AVERAGE LOAN TERM

1 Month to 6 Months

COMMITMENT FEE

$5,000 TO $15,000. The commitment fee must be paid by the borrower once we have established it is a transaction we would be interested in.