Up to 90% LTV Commercial Financing
This is a full documentation commercial loan that offers max financing but credit score driven. Up to 90% LTV on owner-occupied properties. No seller financing needed for max LTV.
100% Creative Financing (click here)
| Up to 90% LTV FULL DOC Commercial loan $100,000 - $1,500,000 CREDIT SCORE DRIVEN |
|
Loan Criteria |
Program guidelines |
| Loan Size |
$100,000 to $1,500,000 USD |
| Lending area |
USA - All 50 states |
| Type |
Purchase up to 90% LTV / Refinance rate-term 80% / Cash Out 80% |
| Loan-To-Value |
Tier I & II
90% LTV - minimum middle credit score 680+ (owner occupied & max $1MM loan / No multifamily)
85% LTV - minimum middle credit score 680+ (multifamily & mixed-use investor property)
85% LTV - minimum middle credit score 680+
80% LTV - minimum middle credit score 640+
75% LTV - minimum middle credit score 580+
Tier III
80% LTV - minimum middle credit score 680+
75% LTV - minimum middle credit score 640+
70% LTV - minimum middle credit score 580+
Tier IV
75% LTV - minimum middle credit score 680+
70% LTV - minimum middle credit score 640+
65% LTV - minimum middle credit score 580+
|
| Seller financing |
Not required |
| Property Type |
Tier I
Multifamily, Condo conversion, Mixed use (50%+ residential)
Tier II
Automotive, Bed & Breakfast, Light Industrial, Mixed use,
Mobile Home Park, Office, Retail, Self Storage, Warehouse
Tier III
Flagged Hospitality, Funeral Home, Industrial, Rooming House
Tier IV
Day Care, Gas Stations, Health Care, Unflagged Hospitality, Restaurants, RV Parks, Other Special Purpose
Gas Station max loan $1 Million, DTI only, Phase I.
|
| Interest Rate |
6.5%+ |
| Term |
up to 30 years |
| Amortization |
30 years |
| Credit Score |
Minimum middle credit score 580 primary borrower
|
| Closing Time |
Quick closing - 30 to 45 days |
| Lender Fee(s) |
Up to $1,000 |
| Origination Fee(s) |
0% - 0.50% of loan amount |
| DCR |
Flexible - no minimum property DCR if personal/business income is used in approval. If borrower doesn't have strong income then the property income can be used to approve the loan. |
| Due Diligence Fees |
Borrower responsible for out of pocket expenses (appraisal, title, closing, etc) Fees $1,500 to $4,000 depending on loan size
|
| Prepayment Penalty |
yes up to 5 years |
| Referral fee |
$30 referral fee
registration fee is non-refundable due at online loan submission
100% refundable if we can't match you with a lender/broker
|
|
ELIGIBLE PROPERTIES
Mixed Use – These properties integrate residential spaces with commercial uses, such as retail or office space. Often these properties have a ground floor retail store or office with apartment(s) above, all in the same building.
Self-Storage Facilities – Now one of the most competitive building classes in the country, these facilities are designed primarily for storage. This category also includes cold storage, RV and boat storage facilities, and truck terminals (transit facilities).
Retail/Office Buildings – Designed for retail or office sales and display, this category includes stand-alone buildings such as offices, supermarkets, convenience stores, drug stores, department stores, bakeries, and beauty shops – as well as strip centers, and neighborhood and community shopping centers.
Warehouses/Light Industrial Properties – Single and multi-tenant facilities that are used for warehousing, light manufacturing, distribution, research and development. Does not include buildings where heavy manufacturing or specialized industrial operations such as welding occur.
Automotive Services – Includes everything from auto repair facilities to retail auto shops and part supply stores.
Special Purpose/Unique Properties – InterBay Funding will consider all commercial and unique properties that fall within our program guidelines and loan amounts, including day care and educational facilities, funeral homes, campgrounds, outdoor entertainment centers, trailer and mobile home parks and marinas.
Hotels/Motels – With our industry knowledge and expertise, we feel we understand the non-flagged world of hotels and motels better than most lenders. Our valuation assumptions are based on facts relative to the specific property.
Restaurants – We offer competitively priced financing for a wide range of properties, including owner-occupied and leased facilities as well as fast-food and full-serve restaurants in neighborhood settings or urban.
Multi-Family Housing – We fund residential structures that contain five or more dwelling units in the same building. These multi-story buildings generally offer individual apartments for rent with common area facilities, such as an entrance, lobby, elevator, stairs, hallway, walks or grounds.
Health Care – Included in this category are all Assisted Living or Nursing Home types of operations where a license is required to operate the business.
GAS STATION – Max Loan amount for this program $1 Million
Ineligible properties include:
Adult entertainment
Agricultural purpose
Church/Religious
Education
Heavy industrial
Hospitals
|
