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Commercial
Mortgage Loan
Quick Links |
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Banc-Series
Commercial Loans |
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Banc-Series
Commercial Loan
Program Underwriting
Guidelines
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Banc-Series™ is
a conforming,
owner-occupied -
bank based -
commercial loan
program. However,
unlike traditional
banks,
CommercialBanc's
Banc-Series™
commercial loans are
funded with
off-balance sheet
assets, which means
borrowers get the
low fixed-rates of
traditional bank
lending with less
restrictive
underwriting
guidelines, higher
LTVs, and 30 year
terms. |
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Banc-Series Commercial Loan
Program Eligible Properties |
Warehouse Distribution
Mixed-Use
Commercial/Residential
Light Industrial
Professional Centers
Medical Office
Office Building
Office Condo
Retail - Shopping - Out
Parcel
Sales Distribution
Commercial Condominium
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Commercial Loan Size |
$500,00
- $10,000,000 |
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Interest Rate Options |
6 Month
LIBOR, 3, 5,
10, & 15 year fixed |
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Location |
Commercial real estate loans made nationwide with
preferred locations of a minimum population of 50,000 |
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Commercial Real Estate
Loan Amortizations |
15, 25, and
30 Years |
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Rate Adjustments |
1/2/5.50
CAP
Index: 6 Month LIBOR
Floor: Initial rate |
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Prepayment |
6 Month
LIBOR
- 3, 2, 1
3 year - 3, 2, 1
5 year - 5, 4, 3, 2, 1
7 year - 5, 5, 4, 4, 3, 2, 1
10 year - 5, 5, 4, 4, 3, 3, 2, 2, 1
15 year - 5, 5, 4, 4, 3, 3, 2, 2, 1
Reduced prepayment available - call for details - |
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Personal Guarantees |
Full-Recourse including all individuals with 20% or more
ownership, operating company - business -
Limited Recourse available for low LTVs |
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Minimum DSC |
1.25
based on actual commercial loan constant |
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Commercial Mortgage Loan Fees |
Fixed at
$4,500 includes processing, standard legal documents,
underwriting, and appraisal review |
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Loan-to-Value |
75% LTV
for 25 year amortization
70% for 30 year amortization
Cash out commercial mortgage refinances to a maximum of 40% of
commercial loan amount |
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Rate Lock |
60-day
forward lock with refundable deposit
1% deposit on loan amounts above $1MM
1/2% deposit on loan amounts below $1MM |
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Occupancy Requirements |
Minimum
25% owner occupied, some exceptions made based on
overall commercial real estate loan strength |
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Title Requirements |
Title to
be ordered by CommercialBanc at borrower's cost |
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Commercial Mortgage Appraisal Requirements |
Appraisal to
be ordered by CommercialBanc at borrower's cost, no
exceptions |
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Impounds |
Tax and
insurance escrows |
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Personal Credit
Requirements |
660
minimum credit score - lower credit scores accepted on a
case-by-case basis
No personal bankruptcies in past 7 years |
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