Commercial Construction Loans

By
Mortgage and Lending with Commercial Capital Ltd.

 

                                                                                                       https://flic.kr/p/CFZVek

Commercial Construction Loans

 

  • For apartment, mixed use, office, retail, assisted living construction loans of $5 Million and up we can provide a first loan up to 75% LTC.  
  • For $50,000,000.00 dollars plus a combination of debt and preferred Equity/Mezzanine up to 85% loan to cost! For the 85% LTC, we can get up to 65% on the first mortgage at rates in the mid 6's and do a 20% preferred equity or mezzanine piece to round out the capital stack-super aggressive financing! In fact. 
  • For projects above $100,000,000.00 we can go up to 100% LTC if you can show proof of funds of $3ML. 

 

What is the minimum loan amount for construction loans?

 

$5,000,000.00 dollars is the smallest amount we can finance.

 

Permanent Financing on Stabilized Apartment/ Assisted Living Can be Taken Out with a HUD 223(f)

In an effort to preserve and expand the supply of affordable and workforce housing, the U.S. Department of Housing and Urban Development (HUD) has announced a major change to the FHA Section 223(f) program eligibility for apartment construction loans. Borrowers no longer need to wait 3 years after the original Certificate of Occupancy to apply for 223(f) refinancing.

 

Advantages of HUD 223(f)

This means that new or recently rehabbed multifamily properties that have loan amounts above $6,000,000.00+ can now be refinanced with the great terms Section 223(f) is known for, including:

  • Amortization up to 35 years
  • LTVs up to 85% for Market Rate, and up to 90% for Affordable
  • Non-Recourse
  • Cash Out Allowed up to 80%*

 

HUD 223(f) Debt Service Coverage Ratio

Apartment Construction Loans eligibility is subject to the satisfaction of HUD underwriting requirements, which include a minimum DSCR of 1.17x for Market Rate properties and 1.11x for Broadly Affordable communities.

 

ABOUT 60% of my pipeline has some sort of construction component. WE KNOW APARTMENT CONSTRUCTION LOANS and can help make your vision a reality. Out biggest value we bring to the marketplace on these construction loans are EXECUTION and SPEED. We help get these deals funded and funded quickly. If you or anyone you know has need of construction financing, whether Ground Up, Tenant Improvement or Rehab.... we are the one stop source. Once I get the necessary docs you will get a quick answer and we NEVER TAKE A NON-REFUNDABLE APP FEE. That's right, it costs NOTHING to get a pre-approval in writing and you risk ABSOLUTELY nothing giving us a call at 512-358-1511 or go here to complete the form to get started today.

 

 

If you are looking to buy or pull cash out, give me a call. I can do a pre-approval for the buyer OR the seller. And it is FREE! Call Karen at 512-358-1511 today or get started by filling out this form! 

 

Karen Schimpf 

(512)-359-358-1511

karenschimpf@applycommercialloans.com 

 www.ApplyCommercialLoans.com      

 

 

Give me a CALL TODAY at 512-358-1511 or get started by filling out this form!

 

P.S. The Fed raising rates has EXPLODED the interest rate on SBA 7A loans this year. If you are a business or you know anyone who is in business and has a 7A loan on their property, their rates have increased 4% this year, from the 5’s to the 9’s. We can REFINANCE THEM from a 7A loan into a conventional or SBA 504 loan with rates around 6%. A 3% drop in rates on a million-dollar loan is HUGE. It could be the difference in surviving or thriving as you build market share with my tips next week. For more info, or to run the numbers for free and see if refinancing makes sense, call me today at 512-358-1511 or get started by filling out this form

 

P.S.S. When most lenders say no, we say yes. Almost 100% of our closed loans were denied somewhere else BEFORE coming to me. When you call me, I quickly pre-view the loan and if doable, kick out terms at no cost to anyone. Once you move forward with us, we sink our teeth into the deal and have the tenacity to get that deal done even in today's highly regulatory environment that seems to still be hindering lenders even with all the money available in commercial. It is really simple, if you want to close the loan, give me a call and let me make it happen for you.

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