BRIC LLC satisfies all of your commercial financing needs

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Listed Under

* Commercial Financing
* Commercial Loans
* Commercial Lending
* Stated Income Loans

* Mortgage
* Finance

* Houston - Texas - US

* Products

Jan. 31, 2013 - PRLog -- BRIC LLC…

Apartment Building Conventional Program
6 Month Libor ARM 3.950% 3.30% 6 Mo LIBOR 1.20 75/70 30/30
3 Year Fixed 3.960% 3.00% 6 Mo LIBOR 1.25 75/70 30/30
5 Year Fixed 3.860% 3.00% 6 Mo LIBOR 1.25 75/70 30/30
7 Year Fixed 4.690% 3.00% 6 Mo LIBOR 1.25 75/70 30/30
10 Year Fixed 5.130% 3.00% 6 Mo LIBOR 1.25 75/70 30/30
A. Loan sizes: $500,000 to $10MM. Origination fees apply for loans $250,000 to $499,999, please call.
B. Above pricing based for Tier 1, A properties in Major Metro Mkts, min 700 credit, experience & 15% liquidity. Tier 2 Program for Major Metro, min 680 & 10% liquidity.
Add 24-54bps to rates for Tier 2 Program. Tier 3 Program for Nationwide Markets will have rate increase of 80-110bps and 1.35 DCR, max LTV 65% on Purchases and 60% on Refi.
C. Cash out Max LTV 70% (Metro) & 60% (Nationwide). Min. 2-3 years ownership req'd.
D. Low LTV Price Reduction for Tier 1 & 2 markets - 15bps if 65% LTV or less; 25bps reduction if 55% LTV or less. Loans under $500,000 are not eligible.

Commercial Loan Programs
3 Year Fixed 3.000% 75/65 25/3
5 Year Fixed 3.350% 75/65 25/5
A. Loan Sizes: $250K to $10MM. Terms up to 10 Year Fixed at 5.96%. LOC available up to $500,000, 30 year Am and 75% max CLTV.
B. Purchase and Rate & Term Refinance 75%-65% max LTV, Retail max 50% LTV & Owner Occ transactions max 75% LTV/30 Yr Amo. Cash Out available 60%-50% max LTV.
C. Commercial - Office, Retail, Single Tenant, Warehouse, Mixed Use and Multifamily Buildings.

Mortgage Stated Loan Programs & Commercial Refinances
We are now prepared to help you achieve loans as little as $25,000. (Real estate property has to be valued at the very least $75,000 to be considered). Furthermore we can write out financing options to as high as $500K
RATES 9-11%
Property Description
Apartment Building Mortgage loan Mixed-Use Building Mortgages Retail/Office Warehouse/Office Building Mortgages Auto Day Care / Hair Salons / Funeral Homes Hotel and Motel Mortgages.

1. Obtain Letter of Interest/Conditional Approval
The property must be able to service the debt, so it is critical that we obtain these items to issue an LOI. The process of obtaining the LOI will determine whether the property supports the desired loan amount. In order to obtain an LOI, fax or email the following:
•   A current rent roll
•   An operating history for 2011, 2012 and 2013 year-to-date
•   A completed loan application form 1003 and credit report (or complete the enclosed borrowers authorization and sign)
•   We can issue an LOI with a current information sheet prepared by the listing agent
2. Begin Preparing an Underwriting Package
After gathering the items in Step 1, we will need a complete loan application form 1003 or a personal financial statement, 2 years of personal and corporate tax returns (if applicable), YTD P&L (if self employed), bank statements and pay check stubs. At this stage we will need digital photos of the subject property.
3. Submit Your Package
Forward the signed LOI, check, and as much of Step 2 as possible via email or fax. Mail the signed original LOI with the check for the appraisal and rate lock (if needed), We will then work on ordering the appraisal and giving you a "Needs List" of outstanding items.
4. Underwriting
Once all of the information is received the file will be sent to Underwriting. Files are generally underwritten on a "first in first out basis". We encourage you to submit all conditions as soon as possible to ensure the speediest turnaround.
We don’t lend on raw land, construction, assisted living, restaurants, bars, or gas stations (although we will lend on auto repair or auto body shops)
At BRIC LLC, we handle all of the processing for you. The process is simple:
(877) 354-1842
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Phone:(877) 354-1842
Tags:Commercial Financing, Commercial Loans, Commercial Lending, Stated Income Loans
Industry:Mortgage, Finance
Location:Houston - Texas - United States
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