$35k to $100M Commercial Loans Full Doc, Lite, No Doc (201-925-3470) Custom Residential and Commercial Investment and Commercial Owner Occupied Lending!
Most Popular Programs
www.commercialmortgageunlimited.com
Recent Testimonial!
I was having trouble getting a hold of other mortgage brokers after 5 pm. Furthermore, The thing that separates Mark Fulop from other mortgage brokers was the fact that he was always available. In fact I tortured him by calling him frequently with a million questions. The thing I like about him is that he never complained when I bombarded him with questions even late at night or early in the morning.
There are many mortgage brokers but only one that is patient enough to deal with demanding clients like myself.
Mike Chow
1100 Salem Valley Rd, Winston–Salem, NC 27103-4641 (Above Photo)
Refinance Cash Out
112 Unit Apartment Building
5.25% fixed for 10 years 30 am (Closed in August 2015)
Mixed use and Apartment Building Funding Nationwide
We specialize in Multi Family Funding. (1-4 unit 5 unit and up) ($350,000 to $300,000,000)
Are you currently looking for funding for an apartment building or mixed use.
Purchase – Refinance – Cash Out) FULL DOC LOAN
Offering better rates than the local banks for full doc loans.
Normally loans under $1,000,000
3.75-5.35% fixed for 5,7 years 25-30 am 75ltv 25% down
Loans ranging $1,000,000 to 3,000,000
4% – 5% fixed for 10 years 25-30 am 80ltv 20% down
Loans Ranging $3,000,000 and up
%3.5-4.5% fixed for 10 years or 35 years fixed. 80-90ltv 10-20%
Yes its possible to get funding with 10”;,% down with an apartment building loan over 3 million but it takes 6 months so most people choose to pay 20% and get funded in 40-50 days.
Offering a very large variety of lenders for apartment funding for full doc, limited doc, and no tax returns loans. All require a minimum fico of 650 better. Purchase under personal name or under llc or corp.
Common questions?
Can i borrower the down payment? No
Can I have the seller hold back the down payment or % of down payment? No
The borrower must have the down payment in the bank for at least 30-60 days to use down payment,
In some cases I can allow a 5% seller second.
Buyer must produce down payment + 6 months cash reserves to show you the borrower can pay mortgage+ third party closing costs. Closing 40-45 days!
Can I purchase with partners or personal name? Purchase or refinance under LLC, Corp or Personal name.
Can I get a non recourse loan? Normally non recourse is for bigger loans over 2-3 million. Case by case!
Needed Documents! Purchase contract or L.O.I ( Need P.F.S for a full doc loan, copy of credit report, income and expense/rent roll/leases
56 unit funded in NC
Full Doc Loan for Apartment Buildings. (Small Balance Loans)
Products Highlights:
Highly competitive rates with fixed lender closing costs
flexible repayment options
Non recourse
Streamlined process
Loans up to 80ltv & I/o options available
early rate lock Option
At-A -Glance
Small Balance Loan Program and credit features.
Markets Nationwide
Loan Amount $1 Million to $ 5 million
Loan Purpose Acquisition or refinance
Max LTV Up to 80% depending on purpose and market tier
Debt service Coverage 1.25x min DSCR in standard 1.20x top market
Amortization Up to 30 years (Interest only also available)
Term Five,seven,10 year fixed/20 year hybrid ARM’s available
Prepayment Provisions step down, yield maintenance and defeasance prepayment options
Recourse non recourse with standard carve out provisions required
Eligible Properties Conventional multifamily housing with five residential units or more, including conventional housing with tax abatement’s, Section 8 vouchers and student housing under 50% concentration
Occupancy requirement Minimum 90% average physical occupancy required over trailing three-month underwriting period
Escrows/Impounds Replacement reserves waived, insurance waived, property taxes required,unless LTV is 65% or less
Minimum Fico Score 650
Net Worth & Liquidity Net worth: Equal to the loan amount Liquidity: Equal to nine months of principal and interest
Rate – Lock deposit 1% for 60 and 120 days
Please email your scenario? mark@commercialmortgageunlimited.com
Fix and Flip Loan Programs
Are you looking for money for a fix and flip loan?
Whether you are wholesaling, flipping, rehabbing or buying to hold, we offer solutions to fit your criteria
Equity based: we fund based on the deal
Rate: 11.5-13.5%
Term: 9-12 months
After Repair Value 50-55%
Points 3-5 points
Here is what we need:
1) Photo ID
2) Social Security Card
3) Quick Score Property Report (CDNA Report) – use the orange link below
4) Appraisal – we will order this when you are ready
5) Contractors bid for rehab needed – Only for Fix and Flips
6) Most recent three months’ worth of bank statements
7) Federal EIN letter from IRS
8) Articles of Incorporation for your LLC
9) Purchase and sale agreement
10) Preliminary title report – I just need contact information for the company you’d like to use
11) Hazard insurance binder – I just need contact information for the company you’d like to use
NO TAX RETURN NEEDED!
7.5% fixed for5 years 25-30 am 75ltv
Best Variety of No Doc Lender Programs.
Popular No tax returns and No Fico Minimum
Are you interested in purchasing or refinancing a residential or commercial investment property but your accountant does not have this years (2015) tax returns prepared yet?Therefore if you have no tax returns or filed for a small amount a stated or limited doc is the best option for you. Eligible deals must be 1st position mortgages on a wide variety of commercial real estate with loans between $30,000 and $1MM. General terms begin with interest rates starting at 7.50% for a fully amortizing 30 year fixed commercial mortgage. Some program highlights include:
NOTE: If the property is in NJ you have to have a minimum of 5 units or 5 units plus commercial unit.
First example of a no doc loan
$30,000 to $1,000,000
No FICO Score Minimum
Rates as low as 7.25%
30 Year Fixed
No Upfront Lender Fees (Appraisals are paid COD after commitment)
YSP Available
2 to 3 Week Closing
Properties that are Eligible include:
Self Storage
Multi-Family
Mixed-Use
Strip Malls/Shopping Malls
Retail Spaces
Office Spaces
Warehouses
Day Care Centers
Light Industrial
Hospitality
Marinas
Auto Body Shops
Auto Repair Shops
Car Wash
Mobile Home Parks
Churches
Property Types that are Ineligible!
Gas Stations
ALF’s
Land
Construction
Needed Documents! Purchase contract or L.O.I (Contingent on financing), income and expense/rent roll, leases, 10-03 res loan application, credit report) leases eventually
( 2# ) Second example of a popular No Doc loan program.
(No Tax returns, 650 minimum fico)
Example of a past no doc loan I funded
Rates as low as 6.74%
Funding from $75K to $5MM
LTVs up to 75%
No pay stubs or tax statements required
650+ mid FICO qualifies
No balloons- 30 year amortized term with a 3 or 8 year fixed period
Investor 1-4,
Multi-family,
Mixed-use
Office,
Retail,
Warehouse,
Automotive Service and more
Investment Properties 1- Unit
These investment properties include single family homes, condos, town homes and 2-4 unit buildings. As long as the property is non-owner occupied, and is used for investment purposes, Velocity can provide a loan for your borrower. Maximum loan amount is $750k on SFRs and $2 million on 2-4 unit buildings with up to 70% LTV. Loan sizes over $2 million, are considered on a case by case basis. Impounds required. Loan is assumable at lender’s discretion. Program unavailable in AK, IL, MI, MN, NH, ND, SD, and VT
Multi-family (5+ units) and mixed-use buildings. Maximum loan amount is $5 million with LTV up to 75%. Impounds required. Loan is assumable at lender’s discretion. Program unavailable in IL, MI, ND, SD, TN, and VT.
Office buildings, general retail, warehouse, self- storage and automotive services. Maximum loan amount is $5 million with an LTV of 70%. Program unavailable in IL, MI, ND, SD, TN, and VT.
We offer custom tailored loan programs according to the borrowers financial profile and the current or projected cash flow.
Needed Documents! Purchase contract or L.O.I (Contingent on financing), income and expense/rent roll, leases, 10-03 res loan application.
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# 3 Example of no doc loan (No Tax returns, 620 minimum fico)
Here is an example of a building that was purchased with a no doc Loan in NJ (43 somerset rd. Raritan NJ)
Today many traditional banks will not underwrite small balance loans or loans to support building purchase, renovations, debt consolidation or some other commercial mortgage application. Many self-employed building owners find it difficult today to find funding. Here we have another great example of a limited doc loan program.
Loans range from $25,000 to $1 million (minimum property value of $75,000)
Credit rating 620 or better
Property types financed include apartment buildings, mixed use, retail buildings, office buildings, warehouses, auto repair shops, day care businesses, hotels, motels, office buildings
We lend in 42 states by funding and servicing commercial mortgages for their customers. We do not lend in Alabama, Alaska, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.
Eligible Properties for owner Occupied Businesses
PROPERTY TYPES
MAX LTV & DSCR
OWNER OCCUPIED/NON-OWNER OCCUPIED
Single Family Residence (additional collateral only)
70 1.00 1.20 If 100% investment property
2-4 unit property
70 1.25 1.35 If 100% investment property
5+ unit property
70 1.25 1.35 If 100% investment property
Motel/Hotel
65 1.30 1.75 If 100% investment property
Mixed Use (commerical & residential)
70 1.25 1.35 If 100% investment property
Professional Office Space
70 1.25 1.35 If 100% investment property
Retail Store (Free/Strip Standing)
65 1.35 1.55 If 100% investment property
Mobile Home Park
65 1.35 1.55 If 100% investment property
Office/Warehouse
60 1.35 1.75 If 100% investment property
Church/House of Worship
60 1.25 O/O only
Garage/Storage/Auto
50 1.40 O/ O only
Small Commercial
65 1.35 1.55 If 100% investment property
COMMERCIAL LOANS
LOAN AMOUNT
Minimum: $25,000
Maximum: $350,000
LOAN TERM
5 Years – 25 Years
RATE
Fixed Rate
LIMITED INCOME VERIFICATION BUSINESS LOANS
LOAN AMOUNT
Minimum: $25,000
Maximum: $500,000
LOAN TERM
5 Years – 25 Years
RATE
Fixed Rate
INCOME PRODUCING REAL ESTATE
INCOME QUALIFYING BUSINESS LOAN
LOAN AMOUNT
Minimum: $25,000
Maximum: $500,000
LOAN TERM
5 Years – 25 Years
RATE
Fixed Rate
INCOME PRODUCING REAL ESTATE
INCOME QUALIFYING BUSINESS LOAN
LOAN AMOUNT
Minimum: $500,000
Maximum: $1,000,000
LOAN TERM
5 Years – 25 Years
RATE
Fixed Rate 7.5% par ARM Prime + 4%
Please email to inquire if you qualify. Send 10-03 and credit report to start the loan process.
#4 No Doc Loan ( No Tax returns, 650 fico )
No Doc
Loan amounts from $200,000 to $5,000,000
Minimum credit score generally 650
Programs/ Term /Am/LTV/DCR MF&Mixed Use
5 Year Hybrid/ 30 /30 50-75 Rate 7.00 – 8.25
7 Year Hybrid/ 30 / 30 50-75 Rate 7.12 – 8.37
10 Year Hybrid/ 30/ 30 5-75 Rate 7.25 – 8.5
Property Types: Multifamily, 5+ Units, Mobile Home Parks, Mixed USE, Office, retail,Lt Industrial, Self Storage, 1- single family pools (5+units- Unit value 100,000 & Min $500,000 Loan Properties must be in the same are or state. Foreign nationals: Limit to 60% LTV refi/ 65% LTV purchase Target Credit Profile: No BKS,FC in last 2 years, No lates in last 12 months Occupancy: Investor and Owner Occupied Lending Areas: nationwide except- AK,ND,SD Tertiary Markets: Population (100,000 in 5 mile radius-60ltv Index 6 months Libor Min credit score 650 Margin: 4.00% Prepayment: Step down Ex 4,5,3,2,1 Cash-Out Greater than 10% of loan amount after property liens & closing costs.
Bridge Loan Rate 9% to 12% fixed, Interest Only 1-2 points
Loan amounts from $500,000 to $5,000,000
Up to 80% Loan to Cost & 70% Loan to stabilized value
Minimum credit score generally 650
1 to 2 year loan term to facilitate take out
Nationwide
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Limited Doc Bank Loan Program
Loan amounts from $500,000 to $5,000,000
Minimum credit score generally 700 (cash flow analysis required)
1-4 Unit Property Program
Loan amounts from $75,000 to $2,000,000
Minimum credit score generally 650
Includes 2, 3 and 4 unit properties and non-warrantable condos.
Example of a Full Doc Pure Commercial Loan
Pure Commercial Loan Program
Looking for a pure commercial purchase or refinance with full doc.
Pure Commercial 4.45 % Fixed for 10 Years
Fixed for 3-5-10-15
20-30 Year Amortization
Investment Properties
70-75% LTV Cash Out OK
Non Recourse
Office Buildings
Retail Store
Warehouse
Automotive
Manufacturing
Strip Mall
Hotel
Self Storage
Need: Mortgage statement or purchase agreement, income and expense, rent roll, leases, 2-3 years tax returns from the seller, last six months year to date, picture, PFS, Credit report, 2-3 years tax returns from buyer. Please inquire and I will send you the attachments
We also have other loan products that would require 10%-20% down but would end up being recourse.
For larger Commercial Properties This is the best funding available
Are you thinking about refinancing a hand full of residential investment properties in order to attain a portfolio loan? Perhaps you have found a group of residential investment properties that you want to purchase for a income? We have a few great portfolio loan programs.
Cross Collateralize Properties
Minimum 5 Units and $500,000
3-5-7-10 Fixed 30Y Amortization
Unlimited Cash out OK
Put several building together in one Mortgage one Payment,
1-4 Unit family Homes, Condos, Town Homes, Multifamily
680 fico with good tax returns
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Full Documentation Loan
SBA Funding available for mobile home parks nationwide and most other owner occupied businesses. Just business or business with building.
SBA Loans
Specialize in SBA turn downs
Need 650 fico Minimum
Need 2 years experience in the Industry
Must Occupy at least 51% of more
We process and underwriter your loan and guide you through each step
7A & 504
Lease Hold Improvement
Purchase 10% Down or Refinance
20% down Start Ups
Purchase with a 10% seller second if you are currently managing the location for a period of at least 12 months. 650 minimum
Purchase just the business for 10% down then sign a lease to buy agreement. 1 -2 years later purchase the building with 10% or a seller second.
Need: Mortgage statement or purchase agreement, income and expense, rent roll, leases, 2-3 years tax returns from the seller, last six months year to date, picture, PFS, Credit report, 2-3 years tax returns from buyer. Please inquire and I will send you the attachments
Full doc, Limited Doc, and No Doc programs for Self Storage. IN fact we offer a no doc loan up to 1m 30% down no fico required for Self Storage and other owner occupied properties.
Offering this product and other loan programs for Assisted Living and Multi FamilyHotel and Motel Funding
Multi Family and Assisted Living Cons’t , Purchase or Refinance,
Better rates than local banks.
Under 1m 25% down 4% fixed for 5,7,10 25-30am
1m to 3m 20% down 4-4.25% fixed for 10 years 30am
$3,000,000 and up
40 Year Fixed 3.75%
85% Loan to Construction Cost
10Year Fixed at 4.25%
30 Amortization
I am actively adding more and more programs. Please sign up to receive our yearly updated list of programs emailed straight to you.
I would be happy to hear from you please email or call me?
