Compare Commercial
Mortgage Programs
The following chart will provide a
general comparison of the three commercial mortgage products.
Each transaction is individually priced based upon the specific
circumstances of the transaction that include consideration of
credit strength of the applicant, cash-flow, building type and
use, LTV and desired term.
|
|
Stated
Program |
Full Documentation Program |
|
Purpose |
Acquisition/Refinance |
Acquisition/Refinance |
|
Property Types |
All commercial use properties except; heavy
industrial, church, hospital, land, new
construction & agricultural purpose
properties |
All commercial use properties except; heavy
industrial, church, hospital, land, new
construction & agricultural purpose
properties |
|
Occupancy |
Owner Occupied Only |
Owner/Investor |
|
Loan Amount |
$100,000 to $750,000 |
$100,000 to $750,000 |
|
Rate |
WSJ Plus 4 to 8
|
WSJ Plus 3 to 6
|
|
Term |
15, 20, 25 or 30 year |
15, 20, 25 or 30 year |
|
Amortization |
Fully to match loan term |
Fully to match loan term |
|
Prepayment Penalty |
5% for 5 years |
5% for 5 years |
|
Collateral |
1st mortgage on real estate |
1st mortgage on real estate |
|
Recourse |
Full to Owner/Principals,
required |
Full to Owner/Principals,
required |
|
LTV |
Up to 70% |
Up to 70% |
|
Documentation |
Stated Asset/Stated Income, No Tax Returns |
Full Documentation, Tax Returns Required |
|
Assumable |
Yes |
Yes |
|
Pre-Approval |
2 -3 days |
2 -3 days |
|
|
APPLY NOW |
APPLY NOW |
|