All Forum Posts by: Karen Schimpf

• Up to 75% Ltv on Apartments
• Minimum Loan Amount on Apartment is $350,000
• Up to 70% on Office, Retail, Industrial, Self Storage
• Minimum Loan Amount on Office, Retail, Industrial, Self Storage is $500,000

Time is running out!  We can close before the end of the year, give me a Call TODAY at 512-354-5949.

Also lenders find that people are more willing to walk away from an investment home more than their primary home.

Freddie and Fannie underwriting guidelines moved the minimum credits scores down from 660 to 620 but the average guarantee loan credit score per the article is 742 which is still considered "excellent".  So the average guarantee loan credit score now moves down to what...700?  Yes more are going to qualify but it still not like the lending days prior to 2008.

Loans $1 - $10 Million

• 35  Day Closings
• Cities as small as 25,000
• LTV of 75% on MF, 70% on Others
• Declining Scale Prepay
• Non Recourse Available
• No Impounds/Reserves

Congrats BiggerPockets!  I would have loved to come to Denver for the party!  Once again congratulations.

Give me a Call Today to Get Your Commercial Loan Closed at 512-650-8630.

The borrower had a great property with good cash flow but none of the conduits or life companies wanted to go to such a small town and $3.9 million was too big of a loan for local banks to do on an investor property-especially with no major anchors in the center.

Give me a Call Today to Get Your Loan Closed at 512-650-8630.

We are a great source that brings recourse or non-recourse money to smaller populations with NO yield maintenance or defeasance, NO escrows, and NO money set aside for tenant improvement reserves. We can do loans from $1 million to $10 Million on this product and it is quick, we closed this loan in 32 calender days!

@Anna Shaver when you do the numbers, the ltv is  pretty close to being the same whether it is on each property or across all properties.  Blanket loan to value ranges from 60% to 75%. The minimum loan amount on a blanket loan is typically $500,000.  

@ Patrick Hagens the article, "8 Crucial Points to Consider BEFORE Quitting Your Job to Invest Full Time" was a great read.  

My questions to you: are you planning on buying more investment properties in the near future and how long have you been an investor?  Or more specifically how long have you been showing on your tax returns that your investments/businesses are cash flowing? The reason I ask is that your job could be helping you get qualified for financing your projects.  Many commercial lenders look at your global debt to income ratio which is all your income and all your debt.   Lenders will also be looking at your liquid asset (not including your retirement accounts) so make sure your capital is built up like the article says. If you are planning on making a purchase in the near future, make sure your tax returns are showing you are cash flowing for 2 to 3 years and that you have the capital required for down payment and reserves so you can get approved for financing on your next project.  Hope this information helps you in making your decision. 

@Jerry Poon

Some lenders will not lend if your property is not located in the same state you are located.  You will need inform the lender upfront before filling out an application.  You do not want to waste valuable time trying to get your loan closed when the lender decides they do not want to lend because you are not in the same state.   Good luck!

If you find a local bank or credit union that does blanket loans, they typically only go as high as 60% to 65% Ltv.  If you need 70% to 75% than you will need to go to a bigger bank.