Dividend America-Commercial Lending
We're a solution-based Direct and Correspondent Lender. Our Insurance Conduit provides us access to capital from 12 regional insurance Companies. US ONLY.
Rates: mid 4% to 6%
LTV: 75% (Best rates below 68%)
Amortization: 25 year but can go to 30 years
Term: Fixed 3, 5, 7, 10 or 2x 10 year terms (most due in 20 years)
DSCR: 1.25 or higher (stronger DSCR eliminates recourse and pre pay)
Pre Pay: Yield Maintenance for fixed term is optimal but they flexible.
Recourse: Full - (might be reduced or eliminated) - factors - LTV, Strength of reserves, strength of DSCR, etc.
Use of Funds:
Refinance - No cash out but cash for repairs considered
Purchase - Seller help seconds are allowed when borrowers have strong reserves and at least 10% of their own money into the deal. Property's DSCR must be strong and high and borrower's global debt must be low otherwise there will be a minimum 25% down payment.
FDIC or Bank Short Pay (DPO-Discounted Payoff): Will allow if borrower is current on the note and has no lates. Program works for borrowers forced into BK protection due to aggressive bank or bank needs loan off their books.
Email me loan package and in 24-48 hours you'll have a proposal of terms!
Martha L. Muzio - email@example.com