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100% Financing Commerical Property - LoanUniverse Community

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100% Financing Commerical Property


29 replies to this topic

#1 Guest_Helen_*

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Posted 16 September 2004 - 11:38 PM

I am a Mortgage Broker who has not done commerical loans. I have a client who is interested in purcahsing an existing 48 unit apartment complex, he asked if I had a lender who will do 100% financing. I am not sure about 1. How to get started and 2. Does anyone know of a lender that I can sign up with that doesnot require FHA Approval?

#2 loanuniverse

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Posted 17 September 2004 - 08:57 AM

Sorry Helen, I do not. Maybe one of the non-bank lenders here can introduce himself/herself.

#3 Newcomer

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Posted 18 September 2004 - 02:17 PM

Helen,

I havent heard of 100% financing for commercial loans. If you find a lender that even skirts 90% LTV for Appartments please contact me.


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#4 Commercial Lender

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Posted 18 September 2004 - 03:16 PM

Yes! 80% max LTV is the norm for a full doc. On a stated for example we are able to provide a max of 90% CLTV (That is 75% LTV + 15% Seller 2nd = 90% CLTV). The most important components of a deal where the buyer has little money down are good buyer FICOs and a motivated and helpful seller.

#5 Guest_Debra Mundell_*

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Posted 31 July 2005 - 03:10 PM

Commercial Capital does Commercial Loans and will sometimes do 100 % Financing

<snip>

Edited by loanuniverse, 31 July 2005 - 09:04 PM.


#6 Commercial Lender

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Posted 31 July 2005 - 07:49 PM

Under what situations does sometimes (100% financing) apply?

I assume u mean equity financing or in very rare cases a blend of debt and equity for solid projects where pros are involved.

#7 OptionMan

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Posted 01 August 2005 - 03:38 PM

Hypothically, if I had a third party individual who would be willing to give me 20% for DP and take the second position, would lenders have problem giving me 80% first? To elaborate, it'll be on a 12 unit complex which cashflows very well.

#8 Guest_Guest_Jeff_*_*

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Posted 04 August 2005 - 11:53 PM

I am also looking for 100% help with a $2.4 mil 60-unit. I would like to find a lender who could do 100% or one for 80% and another for a 20% piggyback.

#9 jlynn33

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Posted 04 August 2005 - 11:57 PM

I am also looking for 100% help with a $2.4 mil 60-unit. I would like to find a lender who could do 100% or one for 80% and another for a 20% piggyback.

Sorry about double post ( I made the first one before registering). unsure.gif

#10 Guest_Capital Merchant Group, Ltd_*

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Posted 11 August 2005 - 12:55 PM

QUOTE(Helen @ Sep 16 2004, 11:38 PM)
I am a Mortgage Broker who has not done commerical loans.  I have a client who is interested in purcahsing an existing 48 unit apartment complex, he asked if I had a lender who will do 100% financing.  I am not sure about 1. How to get started and 2. Does anyone know of a lender that I can sign up with that doesnot require FHA Approval?

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We could offer this:

100% FINANCING FOR LAND & PROPERTY ACQUISITION
In Vegas, Manhattan, Atlanta, SoCal, Florida (also, other select resort areas)

$ 2 Million Minimum Loan Commercial Projects Only
No Maximum!!!

100% LTV First Lien Loan for land takedown, with first right to offer construction/development financing at competitive rates

1-year term with 1-year extension available, fast hard cash (10-12% plus 4-8 lender points, plus broker fees) NO prepayment penalty, NO equity requirement on the part of the lender

Full Underwriting Package required

3-10 Day close (depends on completeness of package)

NO Up Front Fee
NO appraisal required for Las Vegas and other select areas

Site Visit required by Lender

Proof of funds & references provided upon issuance of Commitment


For more information, please contact us

Edited by loanuniverse, 11 August 2005 - 01:20 PM.


#11 pennykitty

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Posted 01 October 2005 - 08:02 PM

I've seen 100% financing - but "buyer beware". Reading the fine print the lender wanted to be inovlved as a participant in the real estate transaction in that they were involved in the deed, did not guarantee funding, and fine print clearly stated the lender had the option to take over the property if funding did not complete.

As a commercial broker, yes I do know several 90 percenters that are actually decent to deal iwth - but this is for apartments.

QUOTE(Helen @ Sep 16 2004, 08:38 PM)
I am a Mortgage Broker who has not done commerical loans.  I have a client who is interested in purcahsing an existing 48 unit apartment complex, he asked if I had a lender who will do 100% financing.  I am not sure about 1. How to get started and 2. Does anyone know of a lender that I can sign up with that doesnot require FHA Approval?

View Post





#12 jennifer

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Posted 10 October 2005 - 08:22 AM

Have you considered private money for the amount you need? If given a good rate on their money, a private individual is much easier to work with. The main reason it is easier to work with the private person is that you set the rules & find the person who will go with them, instead of you trying to fit a deal into rules.


#13 STARFOX

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Posted 11 October 2005 - 10:59 AM

QUOTE(Helen @ Sep 16 2004, 08:38 PM)
I am a Mortgage Broker who has not done commerical loans.  I have a client who is interested in purcahsing an existing 48 unit apartment complex, he asked if I had a lender who will do 100% financing.  I am not sure about 1. How to get started and 2. Does anyone know of a lender that I can sign up with that doesnot require FHA Approval?

View Post



Commecial loans are based on the income of the property. Many lenders will go to 100% if there is income to support the debt payments.
The trouble is that this type of property almost never sells for low enough price to do this.
Another way to get 100% is to have a seller carry back but again you have the same problem if the payments don't come to a low enough number for a positive cash fow the deal probably is not going to go anywhere.
There are commecial lenders who look mostly at the borrowers credit, the type of borrower that will 100% from these lenders does not need 100% in fact could probably pay cash.

Hope that helps

#14 justin fraioli

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Posted 13 October 2005 - 03:17 PM

what state is this in, the most i can do is 90% stated, if it makes sense it will be done. cool.gif

#15 Guest_Wes_*

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Posted 14 October 2005 - 05:51 PM

There are no "published" 100% commercial loan programs from any lender.
(Except in the case of loans such as construction, conversion, etc. anything that might "add value" to the original purchase price).

If the buyer has good credit and the seller is willing to hold a second of about 20%, there are 95% "published" programs for loans of less than $1,000,000.

There are also "published" programs that will allow the lender to hold a 1st and 2nd loan for a 90% CLTV (combined- loan-to-value) commercial loan (not requiring the seller to participate). Also less than $1,000,000 loans.

Then there are many programs that will do 85-90% CLTV if the seller WILL holding a second.

But for the most part, most commercial loans are 80% LTV or less........

But, since we never say never in this business, 100% commercial loans that do exist, usually are a result of private money/investors. Or, a deal that is so extremely strong or the borrowers so strong as to guarantee the deal.

Feel free to contact us with further questions.
We offer almost all the loan programs mentioned above.......... except 100% not related to construction, etc........

Best Regards,

Edited by loanuniverse, 14 October 2005 - 06:37 PM.






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