Austin Commercial Real Estate Mortgage Loan Criteria & Rates
2 Week Closings - Apply for a Hard Money Loan
* Loan Size
From $1,000,000 - most loans fund between $1 and $10 million
* Location
Urban and suburban US properties
* Collateral
Improved commercial and investment residential real estate (no raw land or construction/development projects)
WA & CA - residential owner occupied OK. Other states: OK only if held in a corporate entity and proceeds are used for business purposes
Austin Commercial Real Estate Mortgage Loan
* Rates
From 9.99% - Most loans fund at prime + 4-5% plus a couple of points + broker points, if applicable
Austin Commercial Real Estate Mortgage Loan
* Terms
1-3 years, interest only, no prepayment penalty
Austin Commercial Real Estate Mortgage Loan
* Max LTV
65% LTV*
Purchase: Value is actual purchase price of the real estate* If borrower has down 30+% in cash, we'll "stretch" the LTV max
Refinance: Value is Avatar's opinion of the appraised value of real estate for refinances. We have our own review appraiser and principle travel to visit each property.
* Creative/Flexible
Blanket loans; points and fees wrapped into the loan; multiple income sources considered.
Austin Commercial Real Estate Mortgage Loan
* Due Diligence
A deposit of about $5 - $6k is required before due diligence process is begun and is credited against the third party costs of underwriting: fair market value evaluation fee, inspections, site visit, legal costs, escrow, etc.
* Down Payment
The fee is due upon signing of the Letter of Intent and Term Sheet and cannot be wrapped into closing costs.
Austin Commercial Real Estate Mortgage Loan
contact Fred
Call 1-888-892-3496