ENCYCLOPEDIA TOPIC ICommercial Loan Programs
Listed here are some of the most popular commercial loan programs in the United States and their guidelines. Loan sizes range from $75,000 at a local credit union to $250,000,000 at a large bank capital division. Be sure to check the requirements for borrowers for the loan programs you are interested in to see if you qualify. For daily commercial mortgage rates you can visit my websites—for multifamily rates go to https://apartmentloanstore.com and for all other commercial property rates go to https://businessloanstore.com.
Commercial Mortgage-Backed Security (CMBS) Loans: Get a low 10-year fixed at a lower rate than what most banks have for their five-year fixed loan programs
These non-recourse loans have competitive 5- and 10-year fixed rates and can do a blanket loan to include multiple properties. Lenders close with their own funds and then sell the loans in securitized pools as mortgage-backed security bonds.
- Acceptable Property Types: Multifamily, mixed use, senior housing, student housing, mobile home parks, self-storage, industrial, hotels, office, and retail.
- Types of Loans: Permanent loans only
Program Guidelines and Requirements
- Loan size: $2,000,000–50,000,000
- LTV: 75% with cash out
- 25–30 year amortization
- Nonrecourse
- 5- or 10-year fixed rates/term
- Tax returns not required
- No global or debt to income ratio
- No ground-up construction
- Loan fee: 1%
- Primary and secondary markets preferred
- 675 minimum credit score
- Minimum ...
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