Commercial Mortgage Loans, Commercial Loans
YSP Loans is a division of Griffin Capital Funding; we are a secondary market lender specializing in owner occupied and partially owner occupied commercial real estate loans from $250,000 to $6,500,000. We do not generally charge points or origination fees on our commercial mortgage products.
We offer the following commercial mortgage types:
- Conventional commercial mortgages to 75% loan to value.
- SBA Loans to 90% loan to value.
- B&I loans to 90% loan to value ($40,000,000 maximum under this program)
We also partner with life insurance companies to provide loans on investment properties for loan amounts from $3,000,000 to $35,000,000.
We offer six different commercial loan products:
- Full Document Commercial Loans – 85% is the maximum we will lend; this is made up of a 75% first trust commercial loan and up to a 10% second trust commercial loan. Our minimum credit score is 660 however we do not allow any prior history of BK on our Full Document commercial loan product. Loan amounts from $250,000 to $15,000,000
- Stated Income Commercial Loans – 80% is the maximum we will lend; we do not offer second trusts on this product. Our minimum credit score is 650 and no BK in the past 7 years is allowed. Loan amounts from $250,000 to $2,000,000
- Commercial Bridge Loans – 70% is the maximum we lend; second trusts are permitted but we do not offer them. There are no minimum credit score requirements. The commercial bridge loan is offered from $1mm to $15mm in most metropolitan areas. General purpose commercial properties are allowed with a special interest in income producing properties.
- SBA 504 Commercial Loans – 90% is the maximum combined loan to value between our commercial loan and the SBA debenture. No minimum set credit score. Loan amounts from $500,000 to $7,500,000.
- B&I Commercial Loans – 90% is the maximum we will lend. No minimum set credit score. Loan amounts from $1mm to $15,000,000.
- Non Profit Loans – 80% first trust commercial loans and up to 100% CLTV with a second trust.
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Can you take out a personal loan to finance the down payment on a commercial loan?I'm interested in a multi-family apartment complex (5+ units). Assuming all of the other lender specifics are met (i.e. the debt service coverage ratio). Do they look at the borrowers personal debt and compare that to the down payment, or do they not care as long as the borrowers credit score is high enough? Thanks!
I'm not concerned about whether or not I can get approved for the personal loan. I'm interested in whether or not, if all other commercial lending criteria are met, the commercial lender would approve the loan with the down payment financed through a personal loan.
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YSP Loans, a division of Griffin Capital Funding is a nationwide wholesale commercial loan lender, offers six different commercial loan products
Posted on July 23, 2009 | Under Commercial Finance Loan | 15 Comments
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15 Responses to “Commercial Mortgage Loans, Commercial Loans”
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Non -recourse loans are decided by each lender. They decide if they can give a non-recourse loan based on the history of the entity attempting to get the mortgage.
If you are trying to get a mortgage through a corporation and the corporation is only one year old the corporation does not have the qualifications to qualify for a mortgage.
Since the corporation does not qualify the lender now want to have personal guarantees.
Your corporation must qualify as if it was an individual. It must be able to prove the ability to make the monthly mortgage with enough funds left to pay other necessary corporate debts.
The corporation must also be in business at least two years, have a current credit report, 2 years of income taxes, bank accounts with reserves.
A lender is not gonna lend to a corporation that is not qualified to borrow money. That is why the personal guarantees.
Ask yourself this question would you lend to a one year old corporation with $3,000 in the bank, with no income taxes and have not established a Dunn and Bradstreet?
If you do find a bank or other lender that will take a chance on lending you money to this type of corporation with no personal guarantees then the interest rate will be extremely high and for a very short term.
I hope this has been of some use to you, good luck.
"FIGHT ON"
If it is a commercial loan then most of the programs are ARM's. Most of them also have a balloon payment. However, there are fixed rate options. The rates are usually so ugly though it isn't worth doing it (at least on the commercial side). Some of the rates on commercial are in the 5's right now. E-mail me with your scenario and I can give you a quote on another 5 year ARM, a 10 year fixed, and a 15 year fixed. Depending on the property type will depend on whether you can get a term any longer than 15 years.
Obama, your the man, but your doing too much. Relax on the Health Care for a few years. Lets get this money right. Also, I thought that you were only aloud to have no more than 3 loans on a property? Alt A mortgages, Commercial, Term Loans- what ever happen to a regular mortgae loan??? Economist do say that half of the residential/commercial mortgages in the US homes will be “under water” by 2011. so much going on BO. you can only do one at a time
Lets expose the fed and corruption. moneypirates com. Its an awsome site. Pass on the word peope.
I am in this industry. Have a degree in Real Estate Finance, a broker for 23 years since since the age of 23, and a CCIM since I was 27.
The brokerage business is down 75% across the board.
I am out of the business now. Years to recovery – if ever.
Moving to Panama. Crashing down there too – but it will recover faster…. And hopefully it will NOT BE Florida South.
What about those of us who cannot afford to buy gold and an offshore account is a pipedream? How well off will we be if we can only afford to buy silver? Still dont know if war is coming or Im just going to go in Walmart and find empty shelves? Maybe both? Maybe neither? Banks closing and when they reopen the dollar is now worth .25 cents? IF they reopen? What madman thinks we can afford national healthcare in the face of all this?
nobody ‘owns’ their home/building until its paid for in full
Why now indeed! What is the gigantic heaving rush?
kysmik- exactly..WHY NOW?!?! How can we pay for this MASSIVE health care transformation in the middle of the worst financial crisis in 100 yrs….it doesn’t make sense…on the surface. but there’s a reason to this madness.
thx for you comments. please sub.
Commercial loans have not taken the same hits as residential. Underwriting for residential loans had become beyond ridiculous allowing everyone to get a loan, whether they could make the payments or not.
Commercial lending has been constant in its criteria, thus it has remained stable.
TLDMdotorg.
also whats coming well its not cookies and milk.
only god knows.
I do this type of loan. Please email with some of the detail
at JohnG@oldmerchants.com
Check out http://www.bankrate.com
I’m not sure if I would worry about September. October is notorious for downturns. Be concerned about October-March. Things seem to carry on a lot longer than we could have imagined. But the breaking point is coming. People can live in fantasy land if they want. OR, they can prepare by getting some gold, silver, foreign currencies, offshore bank account, etc. When it becomes obvious to the average person that the day of reckoning is here- IT WILL BE TOO LATE TO PREPARE. GET READY NOW.