MMI closes commercial loan for $3 million unanchored retail center

(PRWEB) December 23, 2005 -- Matrix Mortgage International (MMI) has refinanced a $3 million commercial loan with 80% Loan to Value for a retail center in Ft Lauderdale, FL. Matrix provides commercial mortgage acquisition, refinance and takeout loans ranging from $200,000 to $250,000,000. Loan to Value is maximized at 80% for loans under $1 million and 90% for loans over $1 million.

www.commercial-real-estate-loan.net is the website to submit your request.

Apartment loans, senior housing loans, shopping centers loans and office buildings loans, industrial and hospitality are the primary property types. Self storage and mobile home parks loans and condo conversions are also included in our underwriting.

Loan submission tips:

1 - Provide current rent roll if applicable
2 - Provide last years Net Operating Income Statement and the current year YTD
3 - Pictures of the property are required by most underwriters
4 - Provide borrowers FICO score.

Closing schedules for conventional loans range from six to eight weeks most permanent and refinance loan programs are provided to the originator at par.

Another mortgage program is the FHA MAP program the geographic preference: US and its territories. This construction- permanent is two loans in one. The Property Types include a Multi-Family Loan, Apartment Loan, Senior Apartment Loans, and Assisted Living Loans. The loan sizes range from: $6 - 100 million. The loan term is 40 years fully amortized. The Loan to Cost is up to 90%.

Fannie Mae construction-permanent loan interest rates are fixed for the 40 years and are currently in 7.0% range. Mortgage insurance adds 0.5%. Features are assumption with approval, non-recourse, no rent restrictions, no limitation on owner's return.

Requirements are Market Study and Appraisal to support the project occupancy and rents. Fees - Borrower pays all application, inspection, underwriting, and third party costs. This government guaranteed program normally requires about 6 months for construction-permanent approval by HUD and the acquisition refinance usually requires 3-4 months for approval.





;


Back

• Most any large city has a number of small shops offering payday loans. They’re often found in strip centers; sometimes they double as pawn shops. They have a simple business – they lend you money until your next paycheck. The system is pretty convenient; you write them a postdated check for the amount you’re borrowing plus interest. On your next payday, they cash the check and your loan is paid off. What many people who use payday loan services fail to realize is that the interest rates charged by these firms are substantial, often reaching the equivalent of four hundred percent per year!
  
  
• To get a secured loan it can take time for loan approval, as the property will be inspected and appraised. Unsecured loans such as credit cards are usually faster to acquire, however the loan approval time may include a credit check. A credit check involves a lender getting a copy of your credit report to inspect your credit history.
  
  
• Credit card balance transfers
  
  
• All kind of loan – educational loans, auto loans, secured loans, unsecured loans, personal loans and any kind of loans – can be consolidated under debt consolidation mortgage. It is highly appropriate to adopt debt consolidation mortgage if you have numerous debts. However, a prudent step will be to understand debt consolidation if you actually want to apply for it. Debt consolidation mortgage has the capability to be turned in a way so as to allow maximum monetary benefits. Yet, one little error with debt consolidation mortgage and your situation will be back to square one.