Business purpose funding for real estate
We occupy the space between banks and hard money
Let's get you started
Easily funding your investment property
We fill the space between banks & hard money. We serve clients that don't fit in the traditional box and provide the funding to make old, tired properties young again.
With decades of experience working with Realtors, business owners, buyers/sellers, our team has a personal, friendly touch with a professional approach. Feel free to contact us whenever you are ready – we are here for you.
Buy and Hold
Here's how it works
We will take a look at your credit, do a cursory review of the property including demographics and outside photos as well as a neighborhood scan and review your application.
Because we want to keep your costs very low we encourage you to contact the credit bureaus for a free credit report. If you don't feel like waiting for them to send you a credit report, go to www.creditchecktotal.com and get a credit report for $1. It's a little involved and there's a membership to join, but can cancel without penalty and you've got a full mortgage credit report. Not bad to know what you've got before you order an appraisal.
If you want an idea of what we can do, just click here, fill out some cursory information and you'll be contacted by one of our loan specialists within the hour.
Single Family Residential
We finance single family residential properties investment properties
2-4 Unit Properties
2-4 unit investment properties are our most popular type of property
Mixed Use
The mullet of commercial property. Business downstairs and house party upstairs
Multi Family 5+ Units
Very popular
Light industrial and Auto Repair
No gas stations, but auto repair works well
Non-Warrantable Condos
We can finance your non-warrantable investor condo
Rehab Loans
Welcome to Rehab!
This is the place where you can turn that dream of funding your fix and flip business into reality.
Click here to be taken to a secure Pre-Approval form. Fill it out so we have an idea about what you'd like to do. Structure of the loan is very important and setting it up correctly can be the difference between success and failure. One of our loan counselors will contact you to discuss your situation.
If you're ready to get started, click here to fill out some information about your situation and we'll contact you within 24 hours. Once we have an application, a rent roll and operating income statement, we'll be able to give you a solid rate and the terms for your fix and flip loan.
At US Commercial, we have a wide variety of rehab products.
The bottom line is this, we want your loan to close because if you don't close, we don't get paid.
Frequently Asked Questions and the Bottom Line
What are your rates and terms and ltv's etc...
Here are the "fix and flip" numbers in a nutshell:
• Up to a 75% ARV
• In some cases, only 10% down
• 100% of the renovation costs paid in draws
• RATES START AT 7.5% I/O AND THE COST IS 3 POINTS.
Why not just have one product and go with that you may ask?
Simply put, all borrowers aren't the same and can't meet the same requirements. Some have cash to put down, some need as much as 90% financing and others need something in between. We offer rehab products that most everyone can use.
That's a lot of information to digest so let's boil it down:
• The Pros: In many instances, we offer up to 90% financing for acquisition and 100% of the construction (paid out in draws) for your rehab.
• The Cons: If you don't get a really good deal on the house, you will exceed the LTV requirement and have to come out of pocket or if we see the numbers don't work based on your initial budget, we may not do it at all. .
Here are some particulars:
• First time flippers are accepted (just not at the maximum loan to value)
• We offer this product in 38 states including MD, DC, VA, SC, NC, FL, GA with more coming on line in the near future.
• The minimum credit score requirement for these programs is 600.
• Under this program, a borrower's credit can not reflect any foreclosures, collections or bankruptcies in the last 24 months.
• In all cases, the minimum loan amount is $75,000 and some areas require a larger loan.
• Two month's bank statements are required to verify 6 month's reserves.
• Entity docs for LLC's and corporations
• Contact information for your preferred hazard insurance agent and title company/attorney
Disclosures:
US Commercial, LLC is a BROKER of fix and flip money. We don't lend our own money, but will work with you throughout the entire loan process, from application to close to ensure you're getting the right product for your situation. We typically don't work with private lenders, in large part, because we've seen private lenders run out of money at the most inopportune times. Our institutional wholesale lenders have deep pockets, specific guidelines and allow us to charge fees that are more than competitive. US Commercial, LLC loans strictly to entities (not individuals) and ONLY for commercial, business purposes. All loans require a personal guarantee. No loans on any of our products will be extended for a consumer purpose that includes primary or secondary residences. All borrowers are required to state, in writing, their intent to apply for a business purpose loan and sign a "Business Purpose and Occupancy Statement" prior to closing, certifying that the property is and will be used for business purposes and that the borrower is not/will not occupy or claim the property as a primary or secondary residence. THERE ARE NO EXCEPTIONS TO THESE POLICIES
Seems expensive
This kind of financing is not cheap. Let's be honest here, these are considered BUSINESS PURPOSE LOANS and they are not for homeowners or for the investor's primary residence. Being an entrepreneur or a real estate investor is not for everyone. The interest rate will not be remotely close to Fannie Mae rates. The points will be closer to 1980's sub-prime rates and there are fees involved. • Appraisals or BPO's at the very least are required (we don't just take your word for the value) • Credit and background check (our investors typically don't lend to felons) • You'll need a scope of work that will stand up to review • Inspection fees for draws • Processing fees. None of these are junk fees but are for services rendered. Know that these fees exist and expect to pay them. It's the cost of doing business. We don't make money on the fees. We get paid for performance. The only thing we ask for up front are the appraisal and credit report fee