While 3% down is common place for residential mortgages, 97% LTV in the commercial world is "unheard of." There are a lot of business owners who desire to own commercial real estate but are unable to come up with the required 20%, which is standard by most lenders.
However, this enhancement will give strong borrowers the ability to qualify for owner-occupied financing up to $1 million.
Eligible property types include:
multi-family, mixed-use, office, retail, warehouse, self-storage, light industrial, mobile home park's
and others.
B credit borrowers can qualify for up to 80% LTV owner-occupied financing.
No seller financing; no gifting of equity or seller concession allowed; a Dunn and Bradstreet report will be pulled by underwriting for the operating business entity.
Gas stations have been an underserved property type for most traditional commercial lenders. However our streamlined and flexible underwriting approach allows us to consider this and other property types.
We are now able to offer financing on gas stations up to $1 million with a 75% max loan-to-value (LTV).
SMALL BUSINESS OWNERS
We can finance a niche market of property types that traditional lenders wouldn't dare touch:
97% LTV on Owner-Occupied Commercial Real Estate:
J F Keefer & Associates now offers 97% loan-to-value (LTV) financing for commercial real estate loans up to $1 million. This program will allow borrowers to purchase properties with a lower down payment and greater cash-out on refinances. Applicable for owner-occupied properties only!