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Commercial Loan Programs
Business owners, developers and investors benefit from TFS customized financing solutions. Transcend Financial provides competitive pricing, flexible terms and a streamlined process to help you get your loan completed quickly and efficiently.
- Apartments
- Hospital
- Gas Station
- Restaurants
- Medical Offices
- Retail Centers
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- Office Buildings
- Convenience Store
- Industrial Complexes
- Warehouses
- Hotels/Motels
- and many others
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Hard Money Commercial ($1-$20 Million):
Our Commercial Hard Money Loans are ideal for non bankable transactions that need to close quickly and do not fit into our bridge loan lending criteria. TFS hard money loans are strictly collateral based loans. Our commercial hard money lending guidelines offer creative options such as cross collateralization of assets, second mortgage positions, equity participation and the use of non-tangible assets as additional collateral. TFS Commercial Hard Money Loans and commercial bridge loans and are structured in a way to facilitate permanent financing or collateral disposition.
All loans are structured as 12-month balloons, with extensions granted up to 24 months on a case-by-case basis depending on borrower confidence and exit strategy;
Fico scores- our emphasis is on the property, story and exit strategy. If borrower has a weak credit score,
Land- the only land we are currently lending on is land in prime locations that is already fully entitled.
All deals are priced at 13-14% interest and 4-6 points based on the complexity of the deal
Deals must be submitted with pictures if no appraisal has been completed;
We will need to order our own MAI appraisal. If they already have a recent MAI appraisal, we will order a third-party review by an MAI appraiser selected by us
The borrower is responsible for all fixed upfront costs that the Company will incur to cover the appraisal,
Commercial Bridgeloan:
Often a commercial borrower needs a bridge loan to facilitate the financing of a property for a short period of time. A bridge loan is a specially designed form of financing that is used when a borrower is expecting to sell a property quickly or refinance it within the near future.
TFS offers bridge loans on a variety of commercial properties including apartments, retail, industrial, office, health care and mixed use. When a bridge loan is made, we look for an "exit strategy" to be certain that our borrowers have a plan to retire the loan through selling or refinancing the property. Bridge loans are usually offered for terms of 12-24 months and many can be refinanced into low cost, long term loans. Bridge loans are not only for shorter terms, but are also often needed to close quickly.Read More..
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Conventional Commercial ($750,000-$20 Million):
Core property types- multifamily, office, retail, storage/warehouse, light industrial, mixed-use and flagged hotels
Exception property types (case by case)-Mobile home parks (less than 25% RV) with LTV below 70% and
680 Minimum Fico score for all conventional products. Exceptions may be given down to 660
FULL DOC ONLY. There are no more stated conventional programs;
All programs are 30-year amortizations with fixed periods of 5, 7, 10, or 30 years.
No lockouts
Mandatory Prepays from 5-10 years
Property must cash flow with minimum DSCR of 1.20
No YSP, broker fees must be charged on HUD
Rates vary from 6.25% to low 8% with variables such as property type, DSCR, Fico, fixed term, and other
All loans are fully amortizing – NO INTEREST ONLY OPTION AVAILABLE
The borrower is responsible for all fixed upfront costs that the Company will incur to cover the appraisal.
Small Balance Commercial ($250,000-$3 Million):
Stated and Full Doc programs available, although the stated income rates are typically 200 basis points higher
650 Minimum Fico for full doc and 680 Minimum Fico for stated/verified;
LTV restrictions of 80% on full doc and 70% on stated/verified;
Various amortization options (15,20,25,30) with rate adjustments for longer amortizations;
Fixed terms varying from 1-30 years;
Lockouts and prepays apply and vary based on length of fixed period;
Rates vary from high 6% to mid 12% depending on property type, amortization, fico score, and LTV
HELOC - 2nd Trust Deed on Commercial :
Coming Soon!
Land Aquisition and Development:
Our land acquisition and development program is straight forward. Please read the entire page to completely understand our guidelines. This program is not for those looking to cash out of raw, un-entitled land without the plans for improvement.
We are looking for educated, quality borrowers and corporate institutions that are usually required to sign personally on each transaction. Our borrowers usually don't meet the bank guidelines in one way or another. If the situation fits our loan parameters and it makes sense, then it is very likely we will offer you a loan. Read More..
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