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Commercial
Mortgage Loan
Quick Links
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Commercial Real Estate Loan Divisions
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Small Balance Plus
Commercial Mortgage
Program Guidelines
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CommercialBanc
Small Balance Plus
Commercial Mortgage
Program general
underwriting
guidelines. For
additional
information, please
contact a commercial
mortgage
professional at
1-866-706-BANC |
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Eligible Properties |
Office Building
Multifamily 5 Plus Units
Bed and Breakfast
Mobile Home Park
Retail - Shopping - Out Parcel
Office Condominiums
Sales Distribution
Medical/Dental Office
Auto Repair
Day Care / Vocational School
Improved Property ≥ 10 Acres
Health Care
RV Park
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Warehouse - Distribution
Self Storage
Automotive
Flagged and Non-Flagged Hospitality
Mixed-Use Commercial/Residential
Light Industrial
Professional Centers
Contractor
Yard
Restaurant
Convenience
Store (No Gas)
Strip Center
Funeral Home
Rooming House
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Commercial Mortgage Loan Size |
$250,00
- $2,000,000 |
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Pricing |
6 Month, 2, 3, 7 Year fixed rates
Declining fixed rate term -
rate reductions for
excellent pay history |
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Programs |
6 Month
LIBOR
2, 3, 5, & 7 year fixed terms followed by floating rate periods
to 30 years
30 year fully fixed |
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Rate Adjustments |
6%
lifetime
CAP
Index: 3 Month LIBOR
Margin: 350 BPS
Floor: Initial rate |
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Prepayment |
5% for 5
years
3% for 3 years available for rate increase of 60 BPS
A 20% pay down in any rolling 12 months is allowed
without incurring a prepay penalty |
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Personal Guarantees |
Full-Recourse including all individuals with 20% or more
ownership, operating company - business - |
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Minimum DSC |
1.20
based on actual loan constant |
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Fees |
Fixed at
$3,500 includes processing, standard legal documents,
underwriting, and appraisal review |
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Loan-to-Value |
90% LTV on purchase
85% LTV on rate/term refinances
Cash out
refinances to 75%
95% CLTV on purchase
Seller 2nds to 20% |
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Occupancy Requirements |
Owner occupied
or investor properties |
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Title Requirements |
Title to
be ordered by CommercialBanc at borrower's cost |
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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 |
640
minimum credit score - lower credit scores accepted on a
case-by-case basis
No personal bankruptcies in past 7 years |
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Documentation Required
to Receive a Pre-Approval |
Credit
report on all guarantors
Property operating history for past two years
Year-to-Date property operating history
Personal financial statements - within 90 days -
Rent roll
Subject property pictures
For owner occupied properties
● 3 years business operating statements or tax
returns
● Year-to-Date business operating statements
● Guarantor resume |
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