Underwriting

Property Types

• Retail Buildings
• Office Buildings
• Hotels & Motels (Flagged or Non-Flagged)
• Large Apartment Buildings (9+ Units)
• Warehouse & Industrial
• Restaurants/Taverns
• Golf Courses
• Fractional Real Estate
• Single Tenant
• International Hotel & Land Development
• Domestic Hotel & Land Development
• Condominium Developments
• Co-developments
• Marina Construction
• Yacht Financing (10 millions+)
• Acquistion, Development, and Construction
• Special Purpose
• Plus Many More

Underwriting Types

Full Documentation: Where the borrower's income is disclosed and verified. The principals must disclose all information that is deemed necessary by the lender/investor. Any loan involving an owner-occupied business will also require a business plan. Loans in this underwriting class tend to have the lowest interest rate.

Single Purpose Entity (SPE): Where ownership of the project must be placed in a separate borrowing entity (i.e. corporation, LLC, etc). This entity's sole purpose is business that pertains only to the subject project. Principals information is disclosed and reviewed but is considered less in the underwriting decision. The project is underwritten based upon its "own legs".

No Documentation: Where the borrower's income and financial situation are not requested by lender. This underwriting class tends to have the highest interest rates and is defined as "hard money".

Loan Amounts

Large Balance Loans: Generally are loans that are $2,000,000 and up. The lending criteria on these deals focus more on project worthiness. However, sponsor/guarantor strength is still a factor.

Small Balance Loans: Generally are loans that are $2,000,000 and under. The financial strength and credit rating of the borrower/guarantor are very important in lending decisions. The project cash flow must also be at an acceptable level for loan approval.