New Jersey Mixed Use Commercial Mortgage loans

Northeast Financial is a National Commercial Mortgage Lender specializing in loan sizes from 100K-5MM.  We offer a “Stated Income” Commercial Mortgage that provides a “common sense” underwriting experience to help you get your loan closed.  We say “yes” when your local community bank says “no.”

Whereas we lend on most commercial property types (except for Gas Stations), one of the main property types we lend on are Mixed-Use Developments (MUD properties also referred to as Mixed-Use commercial).  There are many types of Mixed Use Properties we lend on in New Jersey.  It can be a combination of apartment or retail or office or storage.  However your New Jersey Mixed Use property is configured – we have a solution

Here are our guidelines for Mixed Use Loans with our Stated Income Program:

1. Max Loan to Value (LTV) is 75%
2. Credit Score Minimum is 650 (lower on case by case)
3. Property must be mostly rented as Commercial
4. Must be zoned commercial
5. Appraisal is required
6. Tax returns are reviewed to show property income
7. Closing 3-4 weeks
8. 30 Year Term (Adjustable terms of 3/27 and 8/22)
9. Rates as low as 7.125%
10. Cash out is OK

Please call today so we can talk about your Mixed Use Property and how we can get your loan closed.

Thanks,

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
[email protected]
860-876-0572
210 S. Main St Middletown, CT 06457

NMLS#117273 

 

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