|
MegaLoanFunding
11903 Middlebury Dr
Tampa, FL 33626
Tel:1-800-879-0284
Fax:813-435-2349
Email
| |
The commercial retail
loan programs
described in this page do not constitute any form of offer to make a loan or
to make a loan on any particular terms. If you are interested in a commercial
loan, you must make a
formal written retail commercial loan application and provide all required documentation. All
information submitted by commercial loan applicants is subject to verification. All
commercial loan
applicants must qualify under our underwriting requirements and satisfy all
contingencies of commercial loan approval. Retail commercial Loan approval will be subject to satisfactory
appraisal, title review and no change in financial condition. Some retail
commercial loan types
may not available in all jurisdictions or states. The retail commercial loan programs on this
page are
subject to change without notice. Our loan programs are for commercial business
purpose only.
Retail
Commercial loans.
Retail commercial loan - 100% Joint Ventures Financing.
|
Reference Number: |
JV 061101 |
|
Loan Type:
|
Purchase of retail,
multi family, offfice, industrial. |
|
Term: |
36 months |
|
LTV: |
100 % of the cost of the
property plus any renovation dollars necessary, plus closing costs and
fee expenses |
|
JV Split: |
50% |
|
Interest Rate: |
6% |
|
Max. Loan:
|
$25MM |
|
Credit:
|
Good Credit |
|
Experience: |
Good Experience |
|
Area: |
Good Markets nationally |
|
Borrower strength:
|
Borrower has to be
strong in assets (40% of purchase price) |
|
Details: |
Lender provides buyer
with an internal low rate for 36 months on properties with an upside
potential and split all monthly cash flows and all gains at
disposition...which could mean selling the property or refinancing it at
or before 36 months. |
Retail commercial loan -
90% LTV Adjustable and Fixed loan up to $1M
-
|
Reference
Number. |
RSC
061101 |
|
|
|
|
Loan Type:
|
Permanent first
mortgage loan for
Acquisition and refinancing. |
|
Term: |
6 month adjustable,
2,3,7,15,20 and 30 year. |
|
LTV:
|
Up to 90% |
|
Interest Rate: |
Fixed from
2,3,7,15,20 & 30 Years. |
|
Loan Purpose:
|
Acquisitions and
refinancing. |
|
Max. Loan:
|
$125,000 to
$1,000,000 |
|
Credit:
|
Only 600 FICO
required. |
|
Doc Type:
|
2 years income and
expense statements. Rent roll. |
|
Area: |
Nationwide |
Retail commercial
loan - Up to
85% CLTV Purchase or Refinance non recourse - Anchored or Unanchored Centers or Shopping
Malls -
|
Reference Number. |
RSC 061102 |
|
|
|
|
Loan Type: |
Purchase or Refinance |
|
Term: |
3-15 years; 10 years preferred. |
|
Amortization: |
Generally 25-30 year schedules,
but less can be offered if debt service ratios are met. |
|
LTV: |
Will
consider up to 85% for loans over $3,000,000 with 5% in house secondary
financing. |
|
Interest Rate: |
3,5 & 10 year fixed rate. |
|
DSCR: |
1.25 to 1.30 |
|
Loan Purpose:
|
Purchase or refinance. |
|
Max. Loan: |
$1,000,000 or more. No upper
limit. |
|
Doc Type: |
Traditional. |
|
Area: |
Nationwide |
|
Recourse: |
Non-recourse to borrower. except
for the standard carve-outs. |
|
Underwriting: |
45 to 60 days from receipt of
complete application. |
|
Prepayment penalty: |
Generally defeasance or yield
maintenance and step downs. |
Retail commercial
loan -
A
refinance non recourse loan for unanchored retail with only 6 months trading
history -
|
Reference Number. |
SHOP 061103
|
|
Loan Type:
|
Purchase or
Refinance (including newer properties with as little as 6 months
operating history). |
|
Term: |
7,10 and 15 and
20-year. |
|
LTV: |
75% to 80% for
refinancing. Up to 80% of acquisition price for purchase. |
|
Interest Rate: |
7,10 and 15 (15 year
is self amortizing) and 20-year (self-amortizing) loans. 3 Year floating
rate. |
|
Amortization
|
25 – 30 year
schedules. |
|
DSCR: |
Loans > $1 million
1.20 minimum.
Loans < $1 million 1.25 minimum. |
|
Loan Purpose:
|
Acquisition or
refinance. |
|
Max. Loan: |
Small loan program
$500,000 to $3,000,000.
Large loan program $2,000,000 to $50,000,000. |
|
Credit: |
NA |
|
Doc Type: |
Standard property
financials. |
|
Experience: |
Experience of key
principals. |
|
Area: |
Nationwide. |
|
Underwriting: |
Quotes within 2 business days. Conditional commitments within 10 days of
quote acceptance. Closings approximately 30 days thereafter.
|
|
Recourse: |
Non recourse |
|
Loan fee: |
0
- 1% of loan amount. |
Retail commercial
loan - A purchase or refinance loan up
to 75% loan to value -
|
Reference Number. |
RSC 061204 |
|
Loan Type:
|
Purchase or refinance and cash out
fixed and adjustable rate loan. |
|
Term: |
3,5,7 and 10 year. 15 to 30 year terms
on full amortization loans. |
|
LTV:
|
Up to 75% loan to value. Unlimited
cash out up to 75% loan to value. |
|
CLTV: |
Up to 90% CLTV w /seller second
available.
Subordinate debt up to 85% CLTV allowed. |
|
Interest Rate: |
3,5,7, and 10 year fixed or adjustable
rate loan. |
|
Loan Purpose:
|
Purchase or refinance. |
|
Max. Loan: |
$500,000 to $10,000,000. |
|
Reserves: |
No replacement reserve impounds. |
|
Doc Type: |
Traditional. |
|
Balloon options: |
No balloon options available. |
|
Area: |
Nationwide. |
|
Underwriting: |
Flexibility with
historical income on purchases. |
Set up an appointment to discuss your loan requirements
Set up a telephone appointment
to talk to a processor who will prepare your loan application for you.
See our complete loan
process.
Our phone number is 1-800-879-0284
Our Email address is
Originator@MegaLoanFunding.com
Introduce
your self and receive updates on this site.
Get your
Unsecured Business Line Of Credit today.
Broker Co-Op Policy
| |
Loan Products.
Construction.
Office
Building
Multi Family.
Speed
Loans and Hard Money.
Retail.
Land
Development.
Automotive.
Assisted
Living Facility.
Golf Course.
Mixed Use.
Warehouse.
|
