Press Release Summary = An Industrial Loan was provided my Matrix Mortgage for a facility in Valencia CA. The loan is for $4.5 million with a low interest ten year fixed with a 25 year amortization
Press Release Body = Another mortgage program is the HUD MAP program the geographic preference: United States and its territories. This construction- permanent is two loans in one. The Property Types include a Multi-Family Loan, Apartment Loan, Senior Apartment Loans, and Assisted Living Loans. The loan sizes range from: $6 million minimum - $ 100 million maximum. The loan term is 40 years fully amortized The Loan to Cost is up to 90% of loan to value. Fannie Mae construction-permanent loan interest rates are fixed for the 40 years and are - currently in 6.5% range. Mortgage insurance adds 0.5%. Features are assumption with approval, non-recourse, no rent restrictions, no limitation on owner\'s return. Requirements are Market Study and Appraisal to support the project occupancy and rents. Fees - Borrower pays all application, inspection, underwriting, and third party costs. This government guaranteed program normally requires about 6 months for construction-permanent approval by HUD and the acquisition refinance usually requires 3-4 months for approval.
Matrix Mortgage International is also a correspondent to six regional banks who provide commercial construction loans over $3 million on a regional basis. Matrix provides commercial mortgage acquisition, refinance and takeout loans ranging from $200,000 to $250,000,000. Loan to Value is maximized at 80% for loans under $1 million and 90% for loans over $1 million.
Apartment loans, senior housing loans, shopping centers loans and office buildings loans, industrial and hospitality are the primary property types. Self storage and mobile home parks loans and condo conversions are also included in our underwriting.
Loan submission tips:
1 - Provide current rent roll if applicable 2 - Provide last years Net Operating Income Statement and the current year YTD 3 - Pictures of the property are required by most underwriters
Closing schedules for conventional loans range from six to eight weeks most permanent and refinance loan programs are provided to the originator at par.
Web Site = http://www.commercial-real-estate-loan.net
2022
