Full Documentation

Apply Online: Full Documentation.pdf

Program geared for owner-user commercial properties with over 25% owner-occupancy.

Our standard program in which the originating lender provides a completed full documentation loan application and a complete set of supporting documents to include:

• Personal and business financial statements and tax returns
• Credit reports
• A/R & A/P agings
• Debt schedules
• Other applicable docs

Highlights:

• Maximum 1st Mortgage loan amount $5,000,000
• Purchase to 90% LTV
• Refinance to 85% LTV
• Cash Out to 75% LTV
• Combined LTVs to 90%
• Minimum Average FICO 600
• Targeted DSCR of 1.20x

Eligible commercial property types include multi-purpose and mixed-use.

• Preferred pricing for larger loans and lower LTV loans
• Fixed, Hybrid and ARM rate options
• Fully Amortizing 30-Year Term
• No call provisions or balloon payments
• 8 prepayment penalty options
• Ability to prepay up to 20% of principal within any rolling 12-month period without prepayment premium

*All loans co-originated with Magic Service Financial Services are non-recourse to the originating lender.