$20,000,000 Line Of Credit For Rehab Specialists and Builders
DDA Mortgage • May 11, 2020
Builder spec homes and rehab specialists, lines of credit are available for commercial real estate loans.
Opportunities for professionals to get credit lines for rehab and spec homes! Here's what you need to know!
We offer real estate backed loans to help with commercial rehab projects. We can provide direct loans, bridge loans or even lines of credit. Our commercial loan programs are backed by your existing real estate investments, which allow you to leverage your existing assets in order to help finance your future success.
We partner directly with our clients, who are professionals in commercial real estate construction and the buying and rehabbing of non-owner occupied properties. We can help finance the purchase and rehabilitation of apartment complexes, office complexes, mixed-use properties, warehouse buildings and retail properties. And for collateral on our commercial loans, we accept any type of non-owner occupied residential property as well as commercial properties and mixed-use properties.
We can finance these real estate backed loans with a loan-to-value as much as 70% of the property’s purchase price, and as high as 50% in a cash-out refinance deal.
We also offer a variety of commercial loans to meet your needs.
Pre-approval letter within 2 business days with low rates.
PRODUCT HIGHLIGHTS
- Non-recourse
- Cash out
- Flexible repayment options
GENERAL PRODUCT FEATURES
- Non-recourse
- Cash out
- Flexible repayment options
| PROGRAM AND CREDIT FEATURES | |
|---|---|
| INTEREST RATE | 6.25% - 7.25% on income producing properties (DSCR>1.30) |
| LOAN PROGRAM | 5 year fixed - balloons at the end of 5 years |
| AMORTIZATION | 30 years amortization or interest only option available |
| ELIGIBLE PROPERTIES | Multifamily, office, warehouse, self-storage, and mixed-use property types |
| INCOME | No Personal or Business tax returns required |
| LTV | Max LTV of 65% |
| LOAN AMOUNT | $2,000,000.00 to $50,000,000.00 |
| RECOURSE | Non-recourse with standard carve-out provisions required |
| BORROWER | All loan are required to close in the name of a Single Purpose LLC |
| TAX & INSURANCE ESCROWS | Tax & Insurance escrows required on all loans |
| FOREIGN NATIONALS | Borrower must have a checking account in a US based Bank |
If you would like more information about your commercial loan options, contact us today! Or start your commercial loan application.
Check out our other helpful videos to learn more about credit and residential mortgages.
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