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Loans for
Income Producing Properties |
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For Mid-size Income Producing Properties
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The loan program includes -
- Loans from $200,000 - $5,000,000
- Purchase, New Construction or Refinance
- Up to 90% financing available
- Terms up to 25 years
- Must be at least 51% owner-occupied
- Fixed and Variable Rates Available
- No Balloon payments
Equity Lines of Credit
Need flexibility? An Equity Line of Credit allows the
borrower to have a real estate secured loan with a pre-approved
credit limit and draw only the amount needed at any given time.
The borrower may repay the principal balance of the loan and
borrow again during the loan term without penalty.
Builder Equity Financing
(Profit Participation)
Found a great project but short on capital? Our funding partners
will provide equity capital for a construction project up to 95%
of the required capital. The developer must provide no less than
5% of the required capital at loan origination. This program
utilizes a Promissory Note and a Contingent Deferred Interest
Agreement, both secured by a Deed of Trust recorded against the
property. Under this program the lender receives a threshold
internal rate of return prior to the builder participating in
the profits. (PC)
Equity Ownership
(LLC)
Expanding upon the Builder Equity Financing program, Equity
Ownership Projects partner investors with developers from
acquisition through development, management, and ultimate
disposition. The investors form a limited liability company
(LLC), with PCF as its Manager. The investors’ LLC and the
developer become members in a new LLC formed to develop the
project. (PC)
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We are direct to several
nationwide lenders who welcome new loans from Income
Producing properties of all kinds. |
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Traditional Commercial Income
Property Finance (B):
- Loan Purpose: Acquisition,
refinance and construction of investment real estate.
- Property Types: Office,
retail (anchored and un-anchored), industrial/warehouse,
multi-family, mixed use, single tenant (selected), new
construction.
- Loan Amount: Up to
$5,000,000
- Secondary financing is
permitted on an exception basis.
- Interest Rate: Variable
over 30 day LIBOR, or fixed over comparable US Treasury.
- Loan Term: Up to 30 year
term.
- Amortization: Fully
amortizing to match loan term.
- Assumability: Assumable
for 1% fee with lender approval.
- Prepayment Penalty:
Two-year lockout, followed by declining scale.
- Collateral: First mortgage
on real estate.
- Debt Coverage Ratio: 1.25X
- Recourse: Full guarantee
of all principals.
- Loan to Value (LTV): * Up
to 80% - for multi-family properties.
- Loan to Price (LTP): * Up
to 75% - for commercial, industrial, office and retail
properties.
Commercial Mortgage Bond Security Financing
(CMBS):
We are a correspondent with a
national commercial real estate lender that provides borrowers
direct access to capital markets (CMBS) financing. Previously,
only borrowers in major markets with investment banking
relationships had access to the high leverage low rate
commercial financing securitized debt offers. Now, borrowers in
small and medium sized markets can take advantage of the many
benefits conduit loans offer commercial real estate investors.
LOAN SIZE :
$3,000,000 to $30,000,000 (larger loan requests are underwritten
in large loan program).
PROPERTY TYPE :
Multi-family, Mixed-use, Mobile Home Parks, Retail, Office,
Light Industrial, Single Tenant and Mini-Storage.
LOAN TO VALUE :
Up to 85% subject to debt service coverage.
INTEREST RATES :
Fixed rates based upon the Corresponding US Treasury plus a
margin of between 1.00% and 1.65%.
TERMS :
5, 7 or 10 year Term / Up to 30 year Amortization.
Multi-Family
& Mobile Home Park Lending Program
We are a correspondent with an
apartment lender providing comprehensive apartment financing
programs to borrowers nationwide. Offering a unique mix of both
portfolio and Fannie Mae apartment loans, we provide the most
competitive apartment financing available to meet the individual
and investment requirements of our clients. In addition to the
program outlined below.
LOAN SIZE :
$500,000 to $5,000,000
PROPERTY TYPE : Multi-family, Mixed-use (up to
25% Commercial), and Mobile Home Parks
LOAN TO VALUE : Up to 80% for Purchase and Rate
& Term REFI. Up to 75% for Cash-out REFI
INTEREST RATES : Rates are fixed for 3, 5, 7 or
10 years. At expiration of the fixed rate period, rates are
recast and adjustable every 6-months to the 6-month LIBOR plus a
margin of 2.50%. There is an initial cap of 5%, a periodic cap
of 1% and a lifetime cap of 6%. The floor rate is the initial
rate minus 0.50%.
TERMS : 30-Year term/30 year amortization.
Interest Only available for 3 or 5 years.
MEZZ FINANCING : Mezzanine financing is
available subject to a 1.09x DSCR. Seller or subordinate
financing is not allowed on the subject property but is
allowable up to 10% of the purchase price on outside collateral.
DEBT SERVICE COVERAGE : 1.20x for 30-year
Amortization
1.30x for Interest Only
LENDER POINTS : 1%
PRE-PAYMENT : 3-Year: 4%-2%-None
5-Year: 5%-4%-3%-2%-None
7-Year: 5%-5%-4%-3%-2%-1%-None
10-Year: 5%-5%-4%-4%-3%-2%-1%-1%-None
RECOURSE : Full Recourse at 70% LTV and higher
Limited Recourse (50% of loan amount) under 70% LTV
Non-Recourse under 50% LTV
ASSUMPTION : All loans are assumable for a 1%
fee upon underwriting approval.
CREDIT SCORES : 600+ FICO
LENDER COSTS :Application Deposit of $4,500 to
cover all third party report costs for Multi-Family.
Application Deposit of $6,500 to cover all third party costs for
Mobile Home Parks.
TIME FRAME : 30-days to close from time of Rate
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