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Connecticut Commercial Mortgage Provider

At Northeast Financial we offer Stated Commercial Mortgages on Commercial Real Estate.  As well we offer Partial/Full Document Commercial Mortgages.  We have the ability to close your commercial mortgage quickly and will work with you every step of the way.  Below is an overview of our program:

 

 

Loan Amounts: $25,000 to $1,000,000

 

Property types: Multi-Family, Mixed-Use, Retail, Office, Auto Repair, Day Care, Funeral Homes, Beauty Shops, Motels/Hotels, Warehouse, Mobile Home Parks, Campgrounds, Churches, Self-Storage, Dry Cleaner (Drop off only), Recreational properties

 

Ineligible Properties: Raw land, Land requiring “ground up” construction (any loan requiring rehab work must equal 10% or less of the property value), or gas stations (although we will lend on auto repair/auto body shops)

 

LTV: Maximum LTV is 70-80% (depending on the scenario)

 

Credit Scores: 600 Minimum FICO Scores.  Any scores below 600 will require a letter of explanation.
Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information).

 

Rates: Fixed Rates ranging from 6.5% and up that are based over 25 years (because we are a stated income program – our rates are higher than a local bank).  We also offer Adjustable Rate Mortgages and different year terms depending on the needs of the client.

 

Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty on our 25 year fixed loan.  Depending on the scenario we have the ability to lessen/limit the prepayment time period.

 

States:   We transact commercial mortgages in 42 states except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.

 

Call us today for a free consultation.

 

 

 

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
Mike@northeast-mortgage.com
860-876-0572
210 S. Main St Middletown, CT 06457

 

Company NMLS#117273

 

http://www.zillow.com/profile/MichaelMeyer8/

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https://www.facebook.com/pages/Northeast-Financial-Mortgage/143761005796033

 

Residential Clients: Click Here For Application