City Commercial Mortgage offers many custom tailored lending programs to fit the needs of each individual borrower and property type. Through our experience we have learned to match the borrower?s financial profile and property type, to the lenders...
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City Commercial Mortgage offers many custom tailored lending programs to fit the needs of each individual borrower and property type. Through our experience we have learned to match the borrower?s financial profile and property type, to the lenders requirements and willingness to fund a particular commercial mortgage. In today?s market there are many unforeseen obstacles . Furthermore, it is our knowledge of the lenders underweighting requirements that enables us to place your loan in the right hands and see it through to closing. Our goal is to bring the best possible deal at the lowest rate to our customers.
C.C.M offers many custom tailored programs for property types that other firms cannot finance. We Specialize in Apartment Buildings, Mixed Use, Retail. Automotive, Motel, Restaurant, Industrial, Auto Body, Warehouse, Construction, Renovation, FHA, SBA, and Brown Field Clean up.
Our loan programs are very diversified. Whether your needs may be for a Bridge loan, with a fast easy closing, or a long term conventional loan with a very competitive rate, our representatives will guide you through the process. Please call to lock in today?s low rates!
F.H.A Loan Description
FHA Construction Program- Federal Authority guarantees construction loans that fit their program.. CCM works with a lender in New York City that has the authority to put FHA Loan on the fast track, this is the MAP Program.
(Multi Family Accelerated Program)
The advantage is that the lender moves much faster than a conventional bank, and CCM receives one point origination fee. Banks will not pay for us for this type of loan.
Due to the costs involved the deal should be Multi Family with not more than 20% Commercial Space, and the project size should be around $5,000,000 up front costs can be $20,000 to $60,000 depending on loan size this represents 2.5% to lender of which CCM receives one point. The advantage to the borrower is a 5% down payment land and construction, 5.99% construction interest only, that roles into a 40 year fixed, assumable loan. The loan process does not get better and easier than that!
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S.B.A Loan Description
S.B.A is a great program for ?single use owner occupied commercial properties?
A qualified borrower can get 90% to 120% funding for a purchase of a building and equipment.
The rates are very good , S.B.A has some fees after the deal has been accepted, they charge 2.5% or so, and C.C.M is limited in what we can charge, but C.C.M usually has an arrangement with the lender for a one point origination fee.
The only thing some customers do not like is the fact that, if a borrower has any other property S.BA will encumber any equity in those properties. S.B.A Loan is the same as a full doc loan, plus a business plan, C.C.M can get those for 1,000 plus the encumbrance.
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We can refinance a residential home or multi-family for as low as 5.25%
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As proud members of C.C.M we would like to set up a meeting with you in order to further discuss what programs we have to offer.
(Specializing in F.H.A, F.N.M.A, S.B.A, and Commercial loan programs for all property types)
C.C.M Commercial Broker ( Mark Fulop ) Phone: 212-564-1257 City_Commercial@hotmail.com
