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Conduit Alternative

Fri, 04 Apr 2008 13:52:19 -0700

Mutli-Tenant Offices, Retail, Light Industrial, Self Storage, Hotel-Motel & Mixed use

Key Elements for this program:

Loan amounts from $500,000-$5,000,000.
Up to 75% LTV on purchases, 70% on cash out refinance.
Rate fixed for 10 years, NO "Fitch" constant contraints.
30 year amortization, with a 15 year term.
Loan converts to a 6 month adjustable at the end of intitial fixed period.
Full Doc loan requiring verification of income & assets.
Loan must qualify at 1.25 DSCR, purchase. 1.30 on refinance.
Escrow required for taxes and insurance.
Credit - Must have a middle credit score of 700+.

Full Doc

Fri, 04 Apr 2008 13:47:43 -0700

Mutli-Tenant Offices, Retail, Light Industrial, Self Storage, Hotel-Motel & Mixed use

Key Elements for this program:

Loan Amounts from $100,000-$3,000,000.
Owner/User must occupy less than 25% of property.
Property must be 80% leased.
Up to 80% LTV on purchases, 70% Rate and term refi, 65% on cash out refi.
Rates can be fixed for 3 months, 2, 5, or 30 years.
30 year amortization, with NO Balloon.
Loans convert to 6 month adjustable at the end of initial fixed period.
Full doc loan requiring verification of income and assets.
NO escrows for taxes and insurance.

SBA 7a

Fri, 04 Apr 2008 11:29:26 -0700

Mutli-Tenant Offices, Retail, Light Industrial, Self Storage, Hotel-Motel & Mixed use

Key Elements for this program:

Loan Amounts from $200,000-$1,500,000.
Up to 90% LTV on purchase or refinance. Special purpose properties have lower LTV.
Rate is prime plus a margin of 1.25%-2.75%
Up to 25 year amortization on Real estate, and up to 10 year amortization on business & equipment.
NO Balloon, loan adjusts quarterly.
Business must occupy at least 51% of space.
Full doc loan requiring verification of income and assets.
Escrows not required.

Commercial Owner User Stated Income/Asset

Fri, 04 Apr 2008 11:26:26 -0700

Mutli-Tenant Offices, Retail, Light Industrial, Self Storage, & Mixed use

Key Elements for this program:

Loan amounts from $100,000-$2,000,000.
Property must be more than 25% owner/user occupied.
NOT an SBA LOAN. (Loan will only be attached to property, Not business)
Up to 90% LTV for purchase, 70% for rate & term refi, 65%for cash out refi.
Rates can be fixed for 3 month, 2, 5, or 30 years.
Fully amortized for 30 years with NO balloon payment.
Credit 700+ 90% LTV, 680+ 80% LTV, 655+ 70% LTV. Max 90% CLTV (combined loan to value).
Must be in business for at least 2 years.
NO tax returns, or financial statements required.
Escrows not required.

Commercial Owner User - Full Doc

Fri, 04 Apr 2008 11:23:39 -0700

Mutli-Tenant Offices, Retail, Light Industrial, Self Storage, & Mixed use

Key Elements for this program:

Loan amounts from $100,000-$5,000,000.
Owner/User must occupy more than 25% of property.
One loan up to 90% LTV for purchases, 85% LTV rate & term refi, 75% LTV cash out refi.
Rates can e fixed for 3 months, 2, 5, or 30 years.
Fully amortized for 30 years, with NO Balloon payment.
After fixed period loan converts to an adjustable rate.
Full doc loan requiring verification of income & assets.

SunChase Financial

Fri, 04 Apr 2008 10:48:45 -0700

For over 10 years SunChase Financial has been an approved correspondent for a number of Commercial Financing underwriters. We strive to provide the most competative, and aggresive rates and programs to our clients. Specializing in the commercial market gives us this opportunnity. Call us today, and let us show you, what our knowledge can provide.

Multi Family Standard Program

Thu, 03 Apr 2008 13:29:28 -0700

Properties with 5 or more units, Must have public water and sewer, and must be it's original construction use.

Key Elements of this program:

Loan Amounts from $500,000-$5,000,000.
Up to 80% LTV for purchase or rate & term refinance, 75% on cash out refinance.
60 day Advance Interst Rate lock at time of application.
Initial low rates can be fixed for 3, 5, 7, or 10 years.
Up to 30 years fully amortized.
NO Balloon at the end of initial fixed term, loan automatically converts to a 6 month adjustable.
Full Doc loan requiring verification of income & assets

Property Type	Multi-Family properties with 5 or more units.
Ineligible properties	NO rehab, turnarounds, or handyman specials. Propertieswith greater than 5% repair requirements, or deferred maintenance
Transaction	Purchase, rate & term refinance, or cash-out refinance
Ownership	Most entities accepted
Credit	Very good credit. Middle scores below 680 requires detailed explanations on all issues
Loan Amounts	$500,000-$5,000,000 Total aggregrate to one investor $20,000,000
Loan to Value	Purchase: Buyer 20% down payment, Loan 80% LTV, Refinances to 75% LTV
Second Mortgages	NO second mortgages allowed on purchases
Gift Funds	Yes from a family member, borrower must have 10% for loans less than $2,000,000and 12.5% for loans over $2,000,000
Amortization & Terms	25 0r 30 year amortization with fixed periods of 3, 5, 7, or 10 years with NO Balloon
Interest Rate and Cap	At the end of the initial fixed period, loan converts to a 6 month adjustable using the 6 month LIBOR as the index, plus a 2.50% margin. CAP 5/1/6 on the ARM
Rate Lock	Interest rates can be locked depending on the staus of the loan
Escrow	Required for taxes and insurance. May be waived for LTV of 60% or less
Recourse	Personal guarantee required
Season	If ownership is less than 2 years, the value will be the lower of the purchase price, plus and verifiable capital improvements, or the current appraised value. More than 2 years use new appraisal
Appraisal	Must be ordered by the lender
Survey	Required, and must be satisfactory to the lender, and title agent
Inspection	Required if cash out refinanceis $100,000 or more, or the building is more than 50 years old.
Environmental	Normally not required unless the property is located next to an environmentally sensative property
Title Insurance	ALTA lenders title policy satisfactory to lender
Termite	Termite report satisfactory to the lender
SunChase fees	1% of funded total loan amount for loans $500,000 and above,
Other costs	The borrower will be responsible for all costs associated with the transaction, including but not limited to: appraisal, survey, title insurance, credit reports, property condition inspection, and flood insurance
DSCR	Debt Service Coverage Ratio - 1.20:1 Determined by dividing actual NOI by debt service(PI payment)
NOI