 |
|
|
|
|
| |
| |
| Commercial Property Loans : |
| Our
Commercial Loan Division will help professionally
prepare your commercial loan package and represent your
needs to our network of lenders that deal successfully
with our team. We have diverse experience structuring
commercial loans and have established a framework to
handle all types of commercial
properties. |
|
| |
|
All Commercial Properties, including: |
| Gas
Stations |
| Auto
Repair |
| Mobile Home
Parks |
| Office
Buildings |
| Industrial |
| Mini-Storage |
| Strip -
Malls |
| Churches | |
| COMMERCIAL LOAN TYPES
INCLUDING |
| Adjustable Rate
Programs |
| Fixed Rate
Programs |
| Long-Term
Amortizations |
| SBA Loans |
| Stated Income
Loans |
| |
| |
| | |
Please Contact Us for More
Information: |
| Thomas
Vasile |
| Director,
Commercial Loans Division |
| Phone: (973)
334-7770 |
| Fax: (973)
334-5115 |
| Email: tvasile@mccmortgage.com | |
| |
| |
| Key Components: |
|
| Here are some key
components of qualification that our team will prepare
and present to our network of lenders. | |
| |
| Commercial Financial Analysis: |
|
| The Debt Service
Coverage Ratio (DSCR) compares the commercial property's
net monthly income to the proposed payment required to
service the commercial loan. A DSCR of 1.50 indicates
that the property creates an excess of 50% income over
and above what is necessary to maintain the property,
whereas a DSCR of 0.95 indicates that a property cannot
yet cover what is necessary to maintain the property. To
calculate the DSCR for your commercial business, divide
your net monthly income by the proposed loan payment.
For example, for a net monthly income is $5,000 and a
proposed loan payment of $4,000 would yield a DSCR of
($5,000 / $4,000) = 1.25. If the lender requested a DSCR
of 1.15 for that commercial property type, then we would
clear this constraint and be one step closer to closing
on your loan. Each lender will require this ratio to be
more or less depending on the lender's perception of
risk based on the property type, business type,
borrower's financial strength, and the lender's primary
lending portfolio. We are very familiar with the
requirements of our network of lenders and will research
all options before presenting your package to the right
lenders. By changing the type of loan requested and loan
amount to fit the needs of your business we can help
create a win/win for you. | |
| |
| Loan-to-Value (LTV): |
|
|
The Loan-to-Value (LTV)
compares the loan amount requested to the value of the
commercial property/business. The value of the
commercial property/business is determined by the
purchase price and a supporting appraisal. In the event
the purchase price differs from the appraised amount,
the lender will use the lesser of the two. To calculate
the LTV, divide the loan amount requested by the lesser
of the purchase price and appraisal and multiply by 100
to form the percentage. For example, for a loan amount
of $800,000 on a purchase price of $1,000,000 with an
appraisal of $1,000,000 would yield an LTV of ($800,000
/ $1,000,000)*100% = 80%. Commercial Lenders are much
more conservative than residential lenders, and
typically require a minimum of 20% of the purchase price
to be paid by the buyer, whereas the lender would
finance the additional 80% needed to purchase the
property. Depending on the quality of the commercial
loan package, some lenders may require the buyer to pay
a higher than 20% of the purchase price. Our team is
highly successful in structuring everything with you to
help create success. | |
| |
| Credit Worthiness: |
|
|
For businesses less than
three years old, personal credit of principals will be
evaluated. This may hold true for longer periods of time
for tightly held companies. For corporations, business
performance and credit ratings will be evaluated with a
proven track record. | |
| |
| Property Analysis: |
|
|
Fair Market Value and
Fair Market Rent will be analyzed. Special use property
may require additional underwriting. Age, appearance,
local market, location, and accessibility are some other
factors considered. | |
|
|
 | |
| |
|
| |
 |
