Wiseman Capital Group has just partnered with a large hedge fund to provide a source of commercial funding that will revolutionize the way commercial loans are financed. When your local bank or thrift says no, let Wiseman Capital Group help.
Our Small Balance Commercial Loan Program will consider all property types except Gas stations, Assisted Living, Land, Metal Stamping, or anything with Heavy Chemical Use (Dry Cleaners, etc).
Funds can be used for purchase, cash outs and/or rate and term refinances: Use this loan to capitalize on the distressed commercial real estate market for sales that requires a fast closing.
Our loan amounts will range from 100K to 400K. Our max loan to value is 70% for the strongest properties and borrowers. For special use properties (restaurants, auto related, etc) we will be capped at 60%. If your borrower is looking for religious financing we will finance up to 80%.
Two types of interest rates are being offered under this Small Balance Commercial Loan Program. Adjustable interest rates will adjust quarterly and are tied to prime and amortized over 25 yrs and are currently priced at 300-500 bps over prime. Fixed Rate’s are amortized over 25 years and are priced at 600-800 bps over prime.
2 years of seasoning is mandatory for all refinances and all funds used for purchases must be seasoned and sourced.
States NOT allowed- MI, OH, NV, HI, Al, AK, VT, WV
Prepay Penalty- Step Down 5, 4,3,2,1
Standard Fees Are- $750.00 Doc, $750.00 Environmental, $205 Tax Service, Title, Appraisal- Paid COD, Escrows- Taxes Only.
Credit Notes- Full Recourse to sponsor. 600 + scores only.
Mortgage History-0 x 30 in the last 12 months.
Close Time-Up to 21 days after the appraiser reviews the property. We work off of a verbal value from our approved appraiser list.
