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Commercial Loans
Thank you for considering Beech Financial for your Commercial Real Estate transaction! Please find below an overview of how Beech Financial can assist you in your commercial real estate endeavors. Please look through the following pages to find more information on commercial financing. We look forward to working with you! COMMERCIAL LOAN PROGRAM DETAILS Eligible Properties · Existing apartment properties with 5+ · Units limited mixed use acceptable · No Properties with deferred maintenance in excess of 5% of value · Mobile home parks with 15+ pads Loan Size · $200,000 to $5,000,000 Location · Nationwide Programs · Highly competitive with a wide array of rate plans including *6 month; 3,5,7, and 10 year fixed terms, followed by floating rate periods up to 30 years · 15 year fixed rate, fully amortizing · 3 and 5 year interest only structures available · 15 bps higher for 80% LTV · 25 bps higher <$500k loan amount Prepayment · Fixed declining (no yield maintenance or defeasance) and mortgage is assumable Personal Guarantees · Required · Guarantee drops to 50% with LTV below 75% · Non-recourse < 50% LTV Minimum DSC · 1.20 based on the actual loan constant · Can use market rents and vacancy for underwriting Fees · Fixed third party costs of $3,500 for Apartments · Fixed third party costs of $5,500 for Mobile Home Parks · Property condition report required based on asset condition/quality · 1% origination fee Loan-to-Value · 80% for purchase, rate & term refinance · 75% for cash out refinance · No seller 2nds Rate Lock · 60-day forward lock available requiring a $500 deposit credited at closing Goal: Support a Larger Sales Price Goal: Require Less Cash for your Client Scenario Multi-Family Property can support Scenario: Multi-Family Property with a selling price a mortgage of $4,000/month of $750,000 Down-Payment $ 214,000 $214,000 Down-Payment $ 225,000 $150,000 Purchase Price $ 714,000 $844,000 Purchase Price $ 750,000 $750,000 Loan Amount $ 500,000 $630,000 Loan Amount $ 525,000 $ 600,000 Monthly Payment $ 4,026* $3,982** Monthly Payment $ 4,229 * $3,792** *Assumes bank rate of 7.5% amortized over 20 years. ** Assumes Beech rate of 6.5% amortized over 30 years. Questions or comments? Email us at jstrebel@beechfinancial.com or call 603-778-9238. Beech Financial Services, LLC is licensed by the NH Banking Department, NH6938-MHB; MA MB3187; ME CS05368; and VT 0271 MB
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Beech Financial Services, LLC 70 Portsmouth Ave. Stratham, NH 03885 Phone (603) 778-9238 Fax (603) 772-8946 State Licensing Information |
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