Construction-Build To Rent-Multi Family-Rental Portfolio Financing

-

Ground Up Construction

  • Loan on new construction of a single property
  • SFR (1-4 units), condo, townhome
  • Up to 85% of cost
  • 12 to 24 month term, (via extensions)
  • $250k – $2.5M+



 Build To Rent

  • Loan on new construction of multiple rental properties
  • SFR or townhome communities
  • Up to 75% of cost on construction
    (65% LTV stabilized)
  • 18 to 30 month term
    (via extensions)
  • $3M – $30M+



Multifamily Bridge

  • Short-term loan on a transitional multifamily project
  • Multifamily, condos, mixed use with majority residential
  • Up to 75% of cost, 65% of value
  • Up to 30 month term (via extensions)
  • $3M – $15M+



  • Multifamily Term

  • Long-term loan on a stabilized multifamily property
  • Multifamily, condos, mixed use
  • Up to 75% of value
  • 3, 5, 7, or 10 year term
  • $500k – $50M+


30-Year DSCR

  • Fixed rate loan on a rental property based on DSCR (1.0x)
  • SFR (1-4 unit), condo, townhome
  • Up to 80% of value
  • 30 year term
  • $75k – $2M+




Rental Portfolio


  • Fixed rate loan on a portfolio of 5+ rental properties or units
  • SFR, condo, townhome, multifamily
  • Up to 75% of value (70% LTV on 3-year term)
  • 3, 5, 7, or 10 year term
  • $500k – $50M+




Short-Term Rentals

  • Fixed rate loan on a 5+ short-term rentals w/ 12+ month operating history
  • SFR, condo, townhome, multifamily
  • Up to 75% of value (70% LTV on 3-year term)
  • 3, 5, 7, or 10 year term
  • $500k – $50M+




Fix and Flip 

  • Loan on a single fix & flip project
  • SFR, condo, townhome, multifamily
  • Up to 90% of cost
  • 6 to 24 month terms, (via extensions)
  • $75k – $2M+
  • Fixed and floating rate options
  • Purchase or refinance



Credit Line

  • Credit line to acquire, reposition, and/or stabilize properties
  • SFR, condos, townhome, multifamily
  • Up to 85% of cost
  • 18-24 month term (via extensions)
  • $1M - $50M+
  • Fixed and floating rate options
  • Revolving credit options available
  • Renovation financing available




2-Year No Ratio Bridge


  • Loan on a single rental property not based on DSCR
  • Single-family (1-4 unit), condo, townhome
  • Up to 100% of cost, 75% of value
  • 24 month term (interest only, no prepayment penalty)
  • $75k – $2M
  • Purchase or refinance

Contact me with any questions or scenarios 

  
Bob McCormick, President
Call Toll Free 800 328-0144
Email- McCormickLending@gmail.com


14362 N Frank Lloyd Wright Blvd 1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660



 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender




Comments

Post a Comment

Popular posts from this blog

Don't Overpay For Your Mortgage! Utilize Our Wholesale Rates

-
Image
Almost 25 years ago, after working for large banks and mortgage banking companies, I figured out how to operate an independent mortgage company using a business model which allows us to offer ultra-low interest rates for our clients. We utilize extremely low operating costs and margins. Also, by receiving Wholesale Interest Rates and , as the sole-owner/loan officer, I personally control our pricing model, which keeps our rates very low versus the competition as we have cut out most layers of expenses (high office expenses, processing fees and extra commissions). We then pass these savings on to our clients via lower rates and costs. Having closed thousands of mortgage loans during my career we know which wholesale lending partners offer the best underwriting guidelines and pricing for each scenario daily. Combined with our free pre and post closing Free Floatdown Option we ensure that our client's receive the best financing possible. Contact me with any questions or scenar...
Read more

Portfolio Underwriting Qualifying (Outside of the Box)

-
Image
Portfolio Underwriting Options  12 or 24 month bank statement income options Asset Depletion for Income Bank Statement Balance = Loan Amount  Alternative Income (1099 only, employment verification form, ITIN) Debt Service Coverage Ratio (DSCR) P&L Only Foreign National  Credit score as low as 620 Loans up to $4,000,000 Contact Us With Any Questions Visit us at  www.McCormickLendingGroup.com Bob McCormick, President   Toll Free 800-328-0144   Email-  McCormickLending@gmail.com 14362 N Frank Lloyd Wright Blvd #1000 Scottsdale, AZ 85260 23 Corporate Plaza Dr. #150 Newport Beach, CA 92660  mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender
Read more

Second Mortgage Loans (Heloc, Heloan, Reverse Mortgage Second Loans Available)!

-
Image
Home Equity Line of Credit Fixed Rate Home Equity Loans Reverse Mortgage Second Loans Shared Appreciation Loans Utilize home equity without refinancing your first mortgage for high interest rate debt consolidation, home improvement, college tuition, etc . Up to 89.99% on owner occupied homes 85% CLTV on investment properties & second homes Adjustable rate HELOCs, fixed rate Home Equity Loans, Reverse Mortgage Second Loans, Shared Appreciation Loans (No monthly payments) Piggyback purchases & refis, standalone 2nds, and 1st lien HELOCs Maximum Line/Loan Amount is $500,000 If you have any questions regarding these or any other mortgage option please let me know. Visit us at  www.McCormickLendingGroup.com Bob McCormick, President   Toll Free 800-328-0144   Email-  McCormickLending@gmail.com Residential-Commercial-Business Lending 14362 N Frank Lloyd Wright Blvd #1000 Scottsdale, AZ 85260 23 Corporate Plaza Dr. #150 Newport Beach, CA 92660  mb09036...
Read more