SBA 7A loans are variable rate with a maximum allowable rate of P+2.75%. They are used primarily for financing company operations, equipment, inventory, and accounts receivable, but may be used to finance real estate. Features of the program are: The maximum amount has been increased from $2,000,000 to $4,000,000 The gross receipts qualifying level of $7,000,000 has been removed. Companies must have book net worth of $8,500,000 or less, and after tax income of $3,000,000 or less. The 2%-2.5% guarantee fees have been waived. The loan to value is 90% of discounted collateral, with upward exceptions sometimes … (0 comments)
commercial mortgage: Great News for MN Rehab Investors!!!!!!!!!!!!
- 05/30/09 07:49 AM
We found more local banks in the Minneapolis / St Paul area to fund commercial rehab mortgage loans for residential investors! Until now, my team was only equipped to acquire commercial rehab mortgage loans in the TC metro area for about 2 to 3 REO Rehab clients a week. Now we can acquire rehab mortgage loans for as many as ten clients a week and maybe more. This is great news for investors buying REO Bank Foreclosures here in the Minneapolis and St Paul Metro areas! If you are a: REO Real Estate Agent working with investors Rehab investor in the … (0 comments)
I want to introduce one of the best commercial construction companies in the Minneapolis / St Paul, MN Metro area. Bauer Companies is a pleasure to work with and more on top of saving the client money than any other company I have worked with in the past. Recently, I was working on securing commercial construction finance for the conversion of an old nursing home into one and two bedroom apartments over in St Paul, MN. My borrower really needs this deal to happen. The problem was, before working with Bauer Companies, no general contractors could stay with … (1 comments)
commercial mortgage: REO REHAB BOOT CAMP Minneapolis/St Paul Metro Area
- 04/19/09 11:40 AM
NEW REO PROJECT!!! REO Real Estate and Finance Boot Camps Finance, Real Estate Market, Rehab Construction In my opinion I work with some of the best REO agents and Rehab Construction companies in the Minneapolis & St Paul, MN Metro area! My goal: TO LET MORE INVESTORS/BUYERS KNOW At a minimum I want to be doing two REO Investor Boot Camps a month here in the Twin Cities. There are a lot of people out there trying to get in the game and a lot of bad information being provided to these new investors. Together with the Rehab … (0 comments)
commercial mortgage: Apartment
- 04/14/09 05:08 PM
Apartments and Apartment Financing in the TC, MN Metro It has gotten very busy with REO Rehab mortgage financing for the past several months. Suddenly, I have noticed an increase in apartment loan requests. To often it seems like only one place in the real estate or mortgage finance market is really doing well. That's just not the case. Even though I have seen a big drop in loan requests for multi-tenant commercial spaces there has been a big spike in apartment refinancing and purchase mortgages but more surprisingly a lot of apartment construction or conversion loan requests. Rates are great … (0 comments)
commercial mortgage: Problems Getting Investor MORTGAGES in MN?
- 04/14/09 03:29 PM
Problems Getting Investor MORTGAGES in MN I want to know what problems you are finding with your clients... Trouble getting investor loans Trouble getting rehab mortgages
The only way I can improve the services I provide for the agents and clients I serve is if you comment with the issues you are running into! Let me KNOW! Dax Dickson 612-578-9898 Learn more about commercial mortgage loan programs available in the Minneapolis & St Paul, MN Metro area that can help those looking to secure purchase rehab mortgage loans for properties that do not qualify for programs like private/hard money … (0 comments)
commercial mortgage: Private / Hard Money vs. Bank Mortgage Financing REO
- 03/02/09 05:32 AM
Recently, I have received a ton of calls from potential borrowers looking for Hard Money or Private Money to rehab bank owned properties. I have noticed two types of callers. One, the borrower that actually qualifies for bank financing and had been told by their agent or some other non-finance specialist they needed Hard Money or cash to do these projects. These people are almost always pleasantly surprised to find out we can get them bank mortgage and they do not need to pay high fees and interest a private lender would charge.Two, the potential borrower that has no credit, no … (0 comments)
commercial mortgage: Residential REO Rehab Mortgage Financing Made Easy in the Twin Cities
- 02/26/09 12:15 AM
Twin Cities Minnesota Mortgage Solution for Rehab Finance Solution and REO Bank Owned Purchase Construction Financing Many real estate agents in the Twin Cities MN area and investors buying corporate owned home in Minneapolis / St Paul that are in need of repairs have expressed concerns about the current "Credit Crunch" and not being able to secure the non-Fannie Mae financing to acquire these properties. My team listened to your concerns and worked with community banks to create two comprehensive mortgage solutions for those in need of commercial finance solutions for residential investment properties. Solution One: Purchase … (0 comments)
commercial mortgage: Investor Construction Rehab Loan for the Twin Cities METRO
- 11/01/08 07:54 AM
Many agents and buyers have asked "How can I get financing for my investor clients if they want to buy BOARDED & ABANDONED properties in the Twin Cities Metro" and "I know about the FHA 203K program for owner occupants but what can I offer my investors for rehab and construction financing"? My answers: The FHA 203K program is awesome for owner occupants in the Twin Cities, MN Metro and we offer it but that is not the only solution. Not many finance people in the Twin Cities really understand rehab & constuction mortgage financing! Here are the basic guidelines for our Residential … (0 comments)
•1. CURRENT RENT ROLL including: SF of units Lease abstract details such as Escalations, commencement & expirations, add-ons, description of tenant, Description of any added rent that the tenant is responsible for (In addition three year historical data would be ideal)
•3. COMPLETE DETAILED PHYSICAL DESCRIPTION along with SITE PLAN … (1 comments)
commercial mortgage: Commercial Mortgage Finance Terms
- 10/27/08 03:43 AM
ACREAGE - a 2 dimensional measure of land equaling 160 square rods, 10 square chains, 4,840 square yards, or 43,560 square feet.ADJUSTABLE RATE MORTGAGE - a mortgage with an interest rate that changes periodically, according to an index that is selected when the mortgage is issued. The initial interest rate is lower than that of fixed-rate mortgages, but monthly payments can go up or down as the rate is adjusted.ADJUSTMENT INTERVAL - the period of time between changes in the interest rate for an adjustable-rate mortgage. Typical adjustment intervals are 6 months and one year.AMENITIES - in appraisal, the non-monetary benefits … (0 comments)
SBA 7A Loans;)
;)
