We offer loans.
Commercial lending for new or existing space
Commercial real estate (CRE) is income-producing property used solely for business (rather than residential) purposes. Examples include retail malls, shopping centers, office buildings and complexes, and hotels. Financing – including the acquisition, development and construction of these properties – is typically accomplished through commercial real estate loans: mortgages secured by liens on the commercial property.
- This is eligible for Multifamily Residential and or Commercial Space
- Mixed Used Property
- Loans can go up to 5,000,000 dollars
- Also available to Foreign Nationals who are looking to expends their businesses to the US.
- Investment properties only, up to 35 units
- Up to 75% LTV purchase / 70% LTV refinance
- No income or stated income, okay ( only rent rolls)
- Min Credit 550
- Calculation: Subject’s Rents ÷ Subject’s Monthly Payments = DSCRSubject’s Monthly Payments = Principal, Interest, Taxes Insurance and AssociationFees (PITIA)
- Reconciled rent estimate based on 1007 and internal rent survey or lease agreement
- Available ratios:≥ 1.0 – Property is cash flow positive
- ≥ 0.750 & < 1.0 – Property is cash flow negative
- < 0.750 – Property is severely cash flow negative
- 75% LTV starts at 6.75% 5-1 ARM (30 yr amortization)
- 75% LTV starts at 6.875% 3-1 ARM (30 yr amortization)
- 3 Year Prepayment Penalty
Came to the Contrasto team to prequalify for a new house loan. We had worked with Contrasto when getting our current home.They took time to explain what we needed, ad were very helpful in suggesting where we could get additional help. They are great partners. The Contrasto team was very professional, courteous and provided excellent service to me when I was buying a new home.
“My wife and I have used Patti's services on two different occasions when we purchased homes. She always provided excellent service, is very knowledgeable, very professional, and very friendly. We highly recommend her.”
"Outstanding service!!! Patti and Team are amazing!! They will work hard to get you the best possible deal and ensure the entire process is completed in a timely manner. All the while explaining you the entire loan cycle step-by-step, so you never feel out of place. If you have any doubts about whom you should be working with, contact Patti and Team. You won't regret it!!"