|
|
Brokers, Loan
Officers and Bankers
Professionals like yourself are our most important source of referral business.
ASG Mortgage specializes in BANK DECLINES of Commercial Real Estate Loans. We provide
BRIDGE FINANCING for loans of $100,000 to $20,000,000 for Commercial Real Estate
Loans that do not meet bank underwriting standards or the BORROWER needs the loan
in 2 weeks or less.
Our loans are 12 to 36 months to allow the borrower to stabilize their business
in order to qualify for more favorable bank rates.
Real Estate Loans based on Equity.
Poor Credit and Debt Coverage Ratios not considered.
Loan amounts from $100,000 to $20,000,000
Loan Terms from 1-3 years.
Interest Rates from 8% to 14% depending on risk.
Funding in as little as 10 business days.
Any type of real estate considered including raw land.
Points from 2.0 to 6.0 depending on risk.
|
|
|
Toll Free
1-866-854-7929
|
|
Gerry Mueller
|
|
Direct 949-340-7287
|
|
|
|
|
|
|
Sheila Rowan
|
|
Direct 949-340-6757
|
|
|
|
|
|
|
Bob Heys
|
|
Direct 949-726-8588
|
|
|
|
|
|
|
|
|
|
Commercial Lending Guidelines
(For Internal Use Only)
Product Highlights:
Loan Amounts up to $20,000,000 (100,000 Minimum Loan size)
LTVs up to 80% for Multifamily and 75% for Commercial
3, 5, 7, or 10 ,30 year and Hybrid ARMs (30 year fully amortized, with I/O option)
Debt Service Coverage Ratios of 1.15 for Multifamily and 1.25 for Commercial
Full or Stated Income documentation types
Decision credit scores as low as 600
Eligible Borrower Types - Individuals, Corporations, LLC, LLP, Partnerships, Trusts
Tenants-in-Common (< 5 tenants)
Purchase and Refinance (including cash out)
Construction and Rehabs and Conversions
Eligible Property Types:
Multifamily (5+ Units) Apt Complexes, Almost any type property
Mixed-Use - Residential and Retail / Office Buildings / Gas Stations, Churches
Office, Retail, Light Industrial - Free standing Retail, Office/Condo, Strip Center,
Self-Storage, "Light Industrial (including small warehouse and distribution center)
Resorts, Restaurants, Clubs
Submission Requirements:
Operating Income & Expense Statements (Last 2 Years & YTD)
Current Rent Roll
Copy of Leases, if Commercial
Copy of Fully Executed Purchase Contract, if applicable
Loan Application (1003), if possible
Picture of Property, if possible
Capital Expenses, if applicable
Not all will Qualify
Commercial loans must be submitted via email, and will pay up to 50 bps of the final
loan amount to you or your firm when the loan funds. For more information and to
receive a ASG Submission form, please contact your Sales Representative or send
an email to
[email protected]
|