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multi family: Multi Family Bridge Loan - 04/26/11 09:58 AM
23 Ventures is pleased to announce a new bridge finance product for multifamily properties. The program will provide first mortgage financing for properties located in strong markets with excellent sponsorship, significant experience and verifiable liquidity and will be underwritten to a Fannie Mae or FHA exit at maturity, with an emphasis on new cash invested in the transaction. The program is designed to provide the flexibility of a structured loan while offering the ability to eventually lock into the most favorable permanent financing that exists for individual business needs.
Target Deal Traditional Acquisitions
Refinance with fresh equity
Debt Buyback
Properties in Lease … (0 comments)

multi family: Our new Bridge Financing Product - 03/24/11 10:04 AM

Bridge financing is often times used when a borrower needs short term or interim financing for a property that is not quite ready for traditional long term financing. Our bridge loan product is ideal for borrowers seeking financing due to the following reasons:
The borrower is repositioning the property The borrower is in the process of stabilizing the property with new tenants The borrower is trying to take advantage of a loan discount being offered by the current lender 23 Ventures has teamed up with a large life insurance company to offer bridge loans on a variety of commercial properties … (1 comments)

multi family: The Difference Between Bridge loans, Private Loans and Hard Money - 01/06/11 05:01 PM
I see a lot of confusion amongst people when referring to the above types of loans, they are intermingled constantly.  Let me try to share the key differences and what is available.  These loans are hot right now and we are closing a lot of them but you need to know what is what.
Bridge Loans:  Bridge loans are just that, interim loans to “bridge” the gap between the current situation and the exit strategy.  Bridge loans typically have some cash flow but for some reason, will not qualify for conventional lending right now.  You see these mostly on investment properties.  … (1 comments)

multi family: Residential and Commercial Hard Money-Massachusetts Only. - 11/30/10 01:05 PM
Residential and Commercial Hard Money-Massachusetts Only.
We have established a working relationship with a group that can fund residential and commercial hard money in Massachusetts. They are interested in small balance commercial and fix and flips on residential.  The property types range form owner occupied, investor, and commercial.  Thats right they can do residential owner occupied.
Typically we are looking for loans with 50% LTV and below 500K.  That will include points and interest reserves.  May be stretched with a solid deal. Interest rates will range from 12-14%, with 4-5 points, and can amortized over 30 years. There is no upfront … (1 comments)

multi family: What is a Yield Maintenance Pre-Payment Penalty - 11/27/10 03:28 PM
Yield Maintenance is a prepayment penalty that, in the event the borrower pays off a loan before maturity, allows the lender to attain the same yield as if the borrower had made all scheduled mortgage payments until maturity. Yield maintenance premiums are designed to make lenders indifferent to an early prepayment by a borrower. On the flip side, it can mean that if a borrower currently has a 9.5% rate on its mortgage with 5 or 6 years to go until maturity, at this time the penalty could well be huge.
For example, let’s assume a 15-year interest-only $1,000,000 mortgage at  7%. … (0 comments)

multi family: Multi Family Commercial Real Estate Investing - 02/17/09 12:44 PM

for more information feel free to call or visit www.in-visionloans.com  
We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.
The above information regarding Commercial Lending was provided by Christopher Hills, the Senior Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris.hills@in-visionfinacial.com or by phone at 508-377-5872 x 704.
I am dedicated to helping you find the right financial solution for the purchase or refinance of your next commercial project
For Commercial lending nationwide see  In-Vision Financial Holdings

… (1 comments)

multi family: How to Write a Commercial Loan Executive Summary - 02/17/09 06:45 AM
When I am reviewing a loan file one of the first things I look at and look for is the executive summary or loan summary.  A well written executive summary shows the quality of the borrower and the value of the project. The goal of well written loan summary is to give the underwriter enough information to understand the commercial loan and to determine if the loan will fit within the lender's lending guidelines. Below are items that should be included in a well written and complete executive summary.
Salient Facts

 Lenders want to know the details of the commercial real estate loan. Property … (1 comments)

multi family: Multifamily and Commercial Loan Originations Plunge 80 Percent - 02/16/09 02:15 PM
Commercial and multifamily mortgage loan originations were no exception to the falling trend seen in single-family home originations over the past year. Fourth-quarter 2008 originations for commercial and multifamily mortgages were a whopping 80 percent lower than the same period the prior year, according to a quarterly survey released Tuesday by the Mortgage Bankers Association . And that year-over-year decrease was seen across all property types and investor groups. Read More here I find it amazing that this is happening.  Our company is up 50 percent year over year. We have multiply lending relationships, that are still lending in this environement.  With terms … (0 comments)

multi family: FHA Temporarily Relaxes Multifamily Insurance Rule - 02/15/09 03:31 PM
To make it easier for owners of apartment properties to secure financing, the Federal Housing Administration has temporarily relaxed one of its rules for insuring multifamily mortgages. Normally the agency, part of the Department of Housing and Urban Development, will not insure a loan to buy or refinance a multifamily property if it was built or substantially rehabilitated in the last three months. But now the FHA will waive this restriction for at least six months. For an FHA insurance application to be eligible under the waiver, the building must have a certificate of occupancy dated no later than July 31, … (0 comments)

multi family: MultiFamily/Apartment Building Lending-Commercial Loans - 11/19/08 10:51 AM

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Christopher Hills, Managing Dir. Lending

Hopkinton, MA

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23 Ventures LLC

Address: 197 Main Street, Milford, MA, 01757

Office Phone: (508) 488-9186

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