Posted on: 06th Dec, 2007 10:37 pm
Hello Carlosmorales,
There are many lenders in this community who visit the forums regularly. If you haven’t requested for the mortgage quotes, you may do that. You may also pm/mail your details to Sam (site admin) and notify him directly.
There are many lenders in this community who visit the forums regularly. If you haven’t requested for the mortgage quotes, you may do that. You may also pm/mail your details to Sam (site admin) and notify him directly.
Hello Carlosmorales,
There are many lenders in this community who visit the forums regularly. If you haven't requested for the mortgage quotes, you may do that. You may also pm/mail your details to Sam (site admin) and notify him directly.
There are many lenders in this community who visit the forums regularly. If you haven't requested for the mortgage quotes, you may do that. You may also pm/mail your details to Sam (site admin) and notify him directly.
Financing for these types of projects if very popular in the broker community right now.
The two main factors affecting your pricing are LTV and Debt Service Coverage Ratio. As I'm sure you know the financing isn't as heavily based on an individual, it's more about the strengh of the project.
Construction financing can be construction to perm and Loan amounts and LTV based on the after completed value of the project instead of as is value. This would include those acquisition and development projects you mentioned for deals where you don't currently own the land.
IF your trying to finance existing multi family projects that don't have income to support the loan you may need to look at a short term bridge loan to get you the money you need now and then once you get the property back into a good debt service position you can acquire more permanent financing.
Make sure you deal with a commercial broker that knows what tehy are doing. Don't pay upfront fee's to anyone. The only fee you should be asked to pay is for an appraisal.
Commercial Financing is an exciting branch of the financial industry!
The two main factors affecting your pricing are LTV and Debt Service Coverage Ratio. As I'm sure you know the financing isn't as heavily based on an individual, it's more about the strengh of the project.
Construction financing can be construction to perm and Loan amounts and LTV based on the after completed value of the project instead of as is value. This would include those acquisition and development projects you mentioned for deals where you don't currently own the land.
IF your trying to finance existing multi family projects that don't have income to support the loan you may need to look at a short term bridge loan to get you the money you need now and then once you get the property back into a good debt service position you can acquire more permanent financing.
Make sure you deal with a commercial broker that knows what tehy are doing. Don't pay upfront fee's to anyone. The only fee you should be asked to pay is for an appraisal.
Commercial Financing is an exciting branch of the financial industry!
What you stated is a bit vague to say the least
Commercial projects take time and alot of information needs to be processed to qualify your clients. There are alot of factors.
If you want to have a serious discussion about this give me a call.
Commercial projects take time and alot of information needs to be processed to qualify your clients. There are alot of factors.
If you want to have a serious discussion about this give me a call.
