|
Commercial Alternative
Lending
At times there are
situations where commercial property and/or the borrower may not fit into the
normal underwriting guidelines of conventional commercial guidelines. The usual
sources for financing such as banks, life insurance companies, and conduits
will not approve such a loan that does not fit their strict guidelines.
Fortunately there are
other sources of financing for these situations, it is Alternative Lending.
Alternative Lending refers to loans collateralized by real estate, with the
primary underwriting decision based primarily upon the equity in the property.
The borrower's credit history is also considered but to a lesser extent.
Typically the loan-to-value offered with these types of loans do not exceed 65%
and interest rates vary from 10 to 14%. Closings can occur within a matter of a
couple of weeks instead of months.
As a commercial mortgage
lender we have numerous Alternative Lending sources that are able to offer many
different loan programs tailored to fit your needs.
|
