fax (858) 876-1990
Southern California Office
 Lending Programs...PHOENIX FIRST has proven real estate experience and is committed to meeting the needs of the real estate investment and development community. We utilize a relationship approach to serving our clients, offering you a full range of commercial loan programs. The lending team understands the local market, and designs competitive and flexible loan programs for construction and income-producing properties. Working with a lender that can provide the best terms and pricing for your loan is the mission of PHOENIX FIRST CREDIT. By working with a wide range of PROGRAMS that offer long–term fixed and floating rate structures, we're able to structure a loan that addresses your particular financial needs. Leverage the expertise of our professionals to find financial solutions that achieve your commercial real estate goals. |
|
| Loan Purposes: | Permanent first mortgage loans for acquisition, refinancing, and discounted debt payoffs |
| Financing Size: | $750,000 - minimum, No maximum |
| Term: | Any term from 5 - 20 years |
| Loan To Value Ratio: | Up to 75% - Multifamily, Anchored
Retail, Office Up to 70% - Other Retail and Other Property Types Up to 60% - Hotels |
| Debt Service Coverage Ratio: |
1.25x minimum - Multifamily or Anchored
Retail Property 1.30x minimum - Shadow Anchored Retail, Office and Industrial Property 1.45x minimum - Hotels and Special Purpose Property |
| Collateral: | First Mortgage, non-recourse; no personal guaranties required, except for standard lender carve-outs. Personal guaranties may be used or required to eliminate need for some reserves |
| Loan Fees: | 1% of the loan amount |
| Deposits: | A deposit is required with loan application based upon Third Party costs and other related expenses |
| Loan Commitment: | Within 10 business days of an executed application, requested Borrower data and Third Party reports |
| Minimum Third Party Requirements: | Appraisal and Environmental Reports |
| Prepayment: |
Fixed rate programs require a maximum three
year lockout, then subject to defeasance, with the last six
months open to prepayment with no fee Variable rate programs require a prepayment during the first three years |
| Funding: | 10-15 business days following execution of Commitment and receipt of satisfactory reports |
| Transaction Costs: | Expenses include the cost of an Appraisal, other reports, title insurance and lender legal fees |
| Other Programs: | Available: Other programs available but are not
limited to: - Interim (Bridge) - Quick short term financing - Credit Tenant Lease |
Copyright © 2011 Phoenix First CRE. All Rights Reserved