Our programs include all of the following:

Conduit Loan: A conduit loan is a commercial mortgage loan which is pooled together with other commercial mortgage loans which makes up a portfolio. This pool of mortgages is then sold to institutional investors, such as banks, pension funds or financial institutions. Rates for Conduit loans are very competitive. Almost any property that has "anchor" tenants with long leases which generate cash flow can be a Conduit Loan.

Construction Loan: Funding for development of a commercial property. Loans are usually written for 1 to 3 years. Borrower and lender assume the risk.

Construction loan (with "Take Out" Loan): This loan is considered two loans in one. Usually provided by the same lender. The construction loan is converted to or paid by the take-out loan under the loan contract conditions, (i.e., project complete and built to specifications, subject to any lease up agreements, etc.) The take-out loan 's term can be for any duration of time, usually 3 to 5 years.

Credit Enhancement: It seems as though more and more lenders today require additional collateral, especially for new construction. A standby letter of credit, certificate of deposit, or bank guarantee is the most common. Careful, there has been a considerable degree of fraud involved with this type of financing.

Hard-Money/Bridge Loan: A Hard Money/Bridge Loan is an interim loan with a short maturity, usually five years or less. This type of loan is used as a temporary source of capital for the borrower waiting for the close or sale of some other real estate or business transaction. The cash proceeds that the borrower will receive from that sale or refinance of the property is used to pay off the hard money/bridge loan. Private lenders described as "lenders of last resort" are the sources for these types of loans . The lender usually requires that the loan be no more than 50% to 65% loan-to-value. Credit and other traditional requirements are not an issue for private lenders.

Joint Venture: Joint venture loans cover a wide range of capital needs and sources. When a developer needs capital or additional capital he may seek a joint venture partner for the funds. Investment bankers, banks and private parties are the major sources. However, hard-money/bridge loans are usually funded faster and are less expensive than equity partner deals.

Land Loan: A land loan is just that, a loan on unimproved land. Land loans may be used to purchase land, refinance etc.

Take-Out or Forward Commitment: Take-Out Loans or (Forward Commitment) is loans normally associated with construction or renovation projects. A take-out loan pays off the construction or renovation loan. The lender of a take-out loan often is a different lender then the construction lender.

Permanent: Non-construction loans that mature at five years or longer, regardless of amortization, are considered permanent loans.

Mini-Perm Loan: A mini-perm loan is a form of a take-out loan. The loan pays off a construction or renovation loan and is usually issued by the construction lender. A mini-perm is normally written for five years or less affording enough time for the project to mature. (Note: the construction/take-out loan is similar to a Mini-Perm and a Permanent Loan is the maturity. Mini-Perm loans are normally written for five years or less.)

Refinance: The mortgage financing of the current existing mortgage debt.
Purchase or Acquisition Loan: First mortgage financing on the purchase of a property.

Standby Loans: A standby is a hybrid loan. Most never occur. What is commonly used is a standby letter which is a form of insurance required by a construction lender. This loan is usually written by specialized lenders and is promises to make a loan sometime in the future (i.e. 12 to 18 months)under special conditions. They are normally used when mortgage interest rates are high and the number of permanent lenders is limited. These loans are expensive and most have fees when the letter is issued but additional fees are required if the letter needs funding.