COMMERCIAL HARD MONEY $80K-$15,000,000!
Available in major markets nationwide, our Commercial Bridge Loans from $80K to $10,000,000 cover both commercial and multifamily properties and may extend up to $15,000,000 with the appropriate finance needs and borrower information. Designed specifically to exceed the expectations of the experienced borrower with a clear exit strategy, the advantages of our commercial bridge financing include:
Up to 80% of project cost
Property Types: Multifamily, Office, Retail, Industrial, Self-Storage, Single Tenant, Mixed Use. FAST CLOSINGS-10 DAYS!
We Close Loans That Banks Do Not
Residential * Commercial * Land *
Multifamily * Rehab * Construction
* Defaulted Properties * REO Purchase
* Refinance * Cash
- Exit Strategy
- Ability to Pay
- Use of Funds
**NO UPFRONT FEES!**
**Borrower Pays For His or Her Appraisal For The Property They Are Requesting A Loan For**
Commercial real estate appraisals are usually very expensive. You will seldom see a commercial appraisal for less than $2,000; and $4,000 is probably the most common cost these days for commercial real estate loans of around $1 million. Some commercial real estate appraisals for very large projects can cost as much as $10,000 to $25,000. Yikes!
As a result, the borrower definitely does not want to have to pay for more than one appraisal. The wise borrower will therefore wait until the lender has issued an acceptable term sheet before paying for the appraisal.
A term sheet - also known as a conditional commitment letter, a proposal letter or a good faith letter - is a written expression of interest by a lender in making a commercial real estate loan and a good faith estimate of the eventual terms. A term sheet is not a commitment letter. It is not legally binding on the lender, but in practice it is a very positive and encouraging statement. If you receive a term sheet, it generally means that your loan is going to be approved, assuming the property appraises for enough money and the toxic report comes back clear.
Why Use Us?
Same Day Approvals
Fast 10 Day Close
Flexible Underwriting No Doc
Up to 70% LTV & 80% CLTV
NO FICO Needed
Interest Only Payments
1, 2, 3 or 4 Year Options
Stated Income No Doc Programs
Amortized over 30 or 40 Years
Fund Your Deals
Call ERROL SANDERS
Errol Sanders-The Money Kingdom
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