Professional Affiliations
******COVID-19 UNDERWRITING UPDATE****
Lending Update as of 11/1/2020
We have updated our underwriting guidelines back to Pre-Covid Levels with only a slight decrease in LTV.
We are lending on deals that make sense. Call or Email with any loan scenarios.
Capital Deployment:
· Purchase, Refinance & Unlimited Cash Out on stated program
· Commercial Real Estate - Loans $200,000 - $5,000,000 *Nationwide Lending
· Private Money Permanent Loans or Bridge
· Stated Underwriting, Approvals based on property cash flow, LTV and sponsor credit.
· 30 Year Fixed Rate Term, 30 Year Amortization
· Deal must make sense and be able to support mortgage. Maturing bank loans or turn downs welcome.
· LTV’s must not exceed 75% for Multi-Family, 70% Commercial.
Property Types for Funding: - All General Purpose, Income Producing Property
· Grocery / Convenience, Liquor Stores - Most Small Commercial Properties OK
· Retail / Strip Malls - Occupancy Levels above 75% needed
· Office Buildings with stabilized occupancy
· Apartment Buildings and Mixed-Use Commercial/Residential
· Mobile Home Parks (no park owned homes)
· Medical Office
· Food Wholesale / Distributors
· Laundromat, Pharmacies, Veterinary Clinics, Pet Stores / Animal Feed
· Warehousing / Storage / Self Storage
Effective immediately, the following industries will be generally not be funded:
· Bars and Taverns, Night Clubs - *case by case small deals with LOW LTV OK
· Restaurants & Daycare (may consider selectively at 50 LTV or less)
· Sports and Entertainment Venues (case by case)
· Hotels / Motels / Assisted Living (case by case)
· Land
This email is for discussion purposes only and intended for mortgage professionals.
