Commercial Loans
What is the Minimum Investment? Generally, the LCM Fund is financing residential property at less than 80% loan-to-value and commercial property at less than 65%. LCM underwrites all loans with as much rigor as required to determine collateral value, insurance, credit and title history. Typically, the process is the same as that of leading institutional lenders. We control risk through consistent lending practices. Please review the prospectus.French purchase contracts automatically carry a condition suspensive relating to the availability of a mortgage offer to the intended buyer. This is required by Law 79-596 of 13 July 1979 known as the Loi Scrivener. This law applies to all credit for the purchase of a dwelling or premises to be used for the combination of a business and living accommodation. It does not apply to loans for the purchase of purely commercial or business property.
For which kinds of property can I get loans (mobile homes,commercial,etc.)? You can get loans on mobile homes, commercial properties - mixed use (residential/commercial), farms, grocery stores, repair shops, rental properties (commercial rental properties with any number of units, residential rental property with no more than 6 units), etc.If for some reason you cannot be qualified for the VA Loan Program due to lack of entitlement, loan amount requirement, etc., we do offer other loan programs that may fit your needs. Please contact us.
WHAT IS A MORTGAGE ORIGINATOR? A Mortgage Originator organises and negotiates funding for home owners and property investors (residential, commercial, industrial and retail) from a variety of funding sources. Settlers Home Loans Pty Ltd is such a mortgage originator. Mortgage Originators act to introduce a borrower to the lender that in the originator’s opinion offers the best product for the specific needs of the borrower.Dorchester Finance Limited has three main areas of lending. The first is larger commercial type loans from $50,000. These are mostly secured on first and second mortgages over properties.
Where do you lend funds to? Dorchester Finance Limited has three main areas of lending. The first is larger commercial type loans from $50,000. These are mostly secured on first and second mortgages over properties. The borrowers are many different enterprises covering the commercial, industrial and property sectors in NZ. Dorchester Finance also has subsidiaries which are active in the motor vehicle hire purchase business and also act as brokers in this industry.There is a mortgage program for the payment of Collection Sewer Charges and System Development Charges. The combined cost must be at least twice the System Development Charge for a single family residence. Applicants must demonstrate equity in the property and supply title insurance equal to the amount of the mortgage.
Where do you lend funds to? Dorchester Finance Limited has three main areas of lending. The first is larger commercial type loans from $50,000. These are mostly secured on first and second mortgages over properties. The borrowers are many different enterprises covering the commercial, industrial and property sectors in NZ. Dorchester Finance also has subsidiaries which are active in the motor vehicle hire purchase business and also act as brokers in this industry.Tax Ease structures our loan program to keep out-of-pocket expenses to a minimum. An affordable loan processing deposit covers expenses related to the processing of your loan application and the closing of your loan, and is due with your completed application. This fee is $250 for residential loans, and $1,000 for commercial loans. This covers our costs of property inspection, credit check, title review, property inspection and other expenses.That is a good question and something important to understand.
What are some other financing options that may interest me? If for some reason you cannot be qualified for the VA Loan Program due to lack of entitlement, loan amount requirement, etc., we do offer other loan programs that may fit your needs. Please contact us. The National Mortgage Department’s parent company bank does offer In House Financing. Jumbo loan programs that allow for larger loan sizes than what secondary market programs would allow for.Castle Commercial Mortgage Co. is a Private Money Lender. Some also call us a Hard Money Lender. Basically, we use Private Funds to make short-term real estate/real property loans.
Written by Barnes Ross on December 15th, 2008 with
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