Commercial Equity Line of Credit:

HIGHLIGHTS

1) Loan amounts up to 80 LTV on equity value of commercial property  and 10 % tied into a term loan/CLTV 90%

2) No limit on loan size

3) Full Doc program

4) Title expense is waived  based on loan size of $ 250,000 or less

5) Loan rate based on Prime +O or LIBOR

6) Full equity line for any business purpose

7) Title in business name or personal

8) Closing expense minimal

REQUIREMENTS

Full Doc, Qualify loan repayment based on personal and/or Business returns, personal credit report, & appraisal

No requirment to qualify with business credit report, business Income statement, and loan value based on business assets and or Income generated.

 Business Line of Credit

HIGHLIGHTS

1) Innovative new product for those business owners that do not qualify under tradtional commercial banking guidelines.

2) Secured by other assets such as real estate ( Primary residence, Second Home or Investment property) or Income generated from other owned properties.

3) No income verification to qualify for repayment if personal credit is 680 or above

4) Lines up to $ 750,000 with good personal credit score of 750 or above

5) Equity line can be tied into a term loan for higher loan limits

6) No title required for loans under $ 500,000

7) Low loan expense

REQUIREMENTS

Full Doc with credit score  under 680 ( qualify loan repayment through personal and or business Income) , personal credit score.

No Income verification with 680 personal credit score: No Documents except personal credit report and appraisal report. 

Under $ 50,000- credit 680

$ 50,000 to $ 250,000- credit 701

$ 250,001 to $ 499,999- credit 721

$ 500,001 to $ 750,000-Credit 761

 Second Lien Position ( Commercial Loan and or Commercial line of credit) : Program can be used as first lien position

1)   Property type and credit grade determines the CLTV

2) Stated Doc type : No need of full tax discloures or financials. Investment property has limited income verification

3) Owner Occupied and Investor program with credit grade for OO of 680 for loan or line and 660 for Investor

4) No Bankruptcies in the last 10 years

5) All legal entities: Individuals, Sole Proprietors, LLC's and Corp

6) NOte Investor properties, must occupay less than 51%.

7) NO upfront fees, NO appraisal, NO tile/Escrow Fees: Our low 1% fee covers these costs.

8) Loan size up to  500,000 

9) OO CLTV on loan 75% and on Line 70%

10) Investor CLTV on loan 75% and on Line 70%

11) All types of commercial properties including : Office, light industrial, warehouse, retail, mixed use, special purpose, Investment property, 1-4 residential ( residential must be vested in a LLC, Business, partnership or corp> not allowed in TX and VA, 5+ multi-family, some environmentally risky properties.

12) special purpose ( auto repair, auto sales, minimart, self-storgae, fast food restaurant, gas stations, 10 years old, dat care or preschool, convalescent homes, nursery, theater, bowling alley )

13) Excluded property types: Non Profit, Agric-forestry-orchards-farms, Dry cleaning pants, Mobile-RV parks, vacant land, Auto wrecking-auto salvage yards, gas stations>10 years old, hospitality, cemetaries, property under construction or available for sale, no nw recent construction ( past six months)

14) DSCR must be 1:2 : All income should be annual. When calculatiing DSCR insure to add back to the business net profit such depreciation + Interest paid+ rent paid to self plus can use all household income plus net operating income from all other real property owned which will include adding back to net operating income such depreciation +Interest paid and rent paid to self.

Property type	Min Fico	MAX CLTV<=$ 250	MAX CLTV $ 250-$ 500K
OO	660	Lines & Loan to 80%	Loans to 75% & Lines to 70%
Investor	680	Lines & Loan to 75%	Loans to 75% & Lines to 70%
Special Purpose	680	up to 60%	up to 50%

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