Commercial Loans: NO
HASSLE - NO INCOME VERIFICATION - NO ASSET VERIFICATION
| The
Mortgage Group offers creative and innovative
lending solutions for non-conforming clients and properties.
|
 |
EasyCash
Loan Program
For
Commercial Loans under $1 Million |
Like
most small business and commercial property owners, you
may assume that a bank is the only place to go when your
business needs cash. And, like others, you may already
have experienced the frustration of all the red tape involved
with applying for a bank loan. That’s why you should
check out the fast, easy, most flexible way to apply,
and get approved for, a small business commercial loan:
the EasyCash Loan Program. It’s the three-easy
-step
way to get ahead, not held back.
You'll
get:
FAST
– Pre-approval often within 72 hours, and a quicker
closing
EASY – Our loan officers will help you
every step of the way
FLEXIBLE – Less paperwork, and common-sense
decisions
Move
ahead in business - don't get held back. Call us to
apply for a commercial property loan through the EasyCash
Loan program today.
Stated
Income - Stated Asset
We
have devised a streamlined method to provide you financing
on a "Stated Income - Stated Asset" underwriting
criteria. Our loans are approved without the need for
extensive paperwork such as tax returns or bank statements.
In most all cases we can approve a loan within 48 hours
from receipt of a competed application.
DOCUMENTS
REQUIRED FOR PRE-APPROVAL
- Mortgage
Application (or 1003)
- Loan
Supplemental Form
- Purchase
and Sale Agreement (for purchases)
- A
Tri-Merge Credit Report Copy
- Income
& Expense (operating history) for prior 24 months
- Current
Rent Roll (Multifamily) or Lease Summary (Commercial)
- As
many Photos as possible including front, and/or side,
rear, parking and street scenes (electronic photos
are preferred)
Stated
income and stated assets allows self-employed borrowers
who cannot verify all of their income to qualify for
financing. We do not verify the borrower’s personal
income. We require a completed Mortgage Application
with the borrower income and assets stated for pre-approval.
The only income verification we require is on the subject
property.
We
lend on the following property types:
- Multi-Family
- Mixed
Use/Storefront Apartments
- Retail/Unanchored
shopping Malls
- Office
- Warehouse
- Industrial
- Automotive
- Hospitality
- Assisted
Living
- Special
Purpose Properties: Camp Grounds, Laundry Mats, Funeral
Homes, Marinas, Outdoor Entertainment Centers, Bars,
Restaurants, Movie Theaters, Trailer/Mobile Home Parks
Here
are some of the other features of our product:
- Lending
in the Name of Corporations, Trusts or LLC
- Seller
Seconds to 90% CLTV
- Gifts
of Equity
- No
Employment Seasoning
- Unlimited
Cash Out Refinance
Full
Documentation
Our
Full Documentation Loan Program requires more information
from you to apply and ultimately receive a loan. In general
the more information you are able to provide the better
your interest rate is likely to be.
In
our efforts to make the loan approval process as easy
as possible, we've created the following section that
outlines the documentation you will need to provide.
Occasionally we may need additional information that
is not part of this list. In those cases, we will be
sure to let you know as soon as possible.
DOCUMENTS
REQUIRED FOR PRE-APPROVAL
- Mortgage
Application (or 1003)
- Loan
Supplemental Form
- Income
& Expense (operating history) for prior 24 months.
- Current
Rent Roll (Multifamily) or Lease Summary (Commercial)
- Purchase
and Sale Agreement (for purchases)
- Photos
- Copy
of a Tri-merged credit report, or authorization of
Applicants to conduct credit check authorization
- Signed
form 4506 authorization to conduct a Tax Verification
Report
NOTE:
Preliminary Title, Escrow Instructions & Purchase
Agreement are required to order appraisal after acceptance
of a Conditional Pre-Approval.
ADDITIONAL
DOCUMENTS REQUIRED FOR COMPLETE UNDERWRITING
General
Documentation:
- Signed
Conditional Loan Pre-approval and Application Fee
- Current
Rent Roll certified by the borrower
- Past
2 years and YTD operating statements for subject property
- Color
photos of property
- Current
Real Estate Tax Bills
- Certificate
of Occupancy
- Completed
Environmental questionnaire and any recent environmental
reports for the subject property
- Proof
of insurance (hazard, liability and business interruption)
with Lender as loss payee, additional insured and
mortgage
2 months most recent bank statements and verification
of funds to close
For
Refinances:
- Last
12 months payment history, including the terms for
mortgage(s) being satisfied
- Payoff
letter(s) for mortgage(s) being satisfied
For
Self Employed Borrowers, Owner Occupied
Properties and / or if Borrower is a Business Entity:
- Last
2 years and YTD financial statements for the business
entity
- Last
2 years complete, signed IRS tax returns for the business
entity
For
all Individual Borrowers and Guarantors:
- Last
2 years personal signed IRS tax returns
- For
credit scores 700 and above, 1 year W-2/1099; for
credit scores lower than 700, 2 years W-2/1099
Most recent pay stub, dated within 30 days
For
Business Entities as Borrowers:
- Organizational
documents
- If
property is located outside the borrowing entity's
state of incorporation or formation, a copy of authorization
to do business in that state dated within 30 days
of closing is required
- Copies
of occupational licenses, if applicable
- Certificate
of Good Standing, if applicable
- Corporate
Resolution permitting Borrower(s) to obtain debt on
behalf of the business
For
Investor Properties when Single Tenant is Related Entity
to Borrower:
- Last
2 years and YTD Financial Statements of tenant
Contact
a Loan Officer for more information.
Call 888-841-0048.
