Commercial Property? No problem!
We are set up with several secure commercial lending networks via the internet. Your loan parameters can be instantly viewed by over 900 Institutional and Private lenders! This can shorten the search process dramatically and allow computerized sorting to match the best lender for your needs. Why waste time? Contact Us Now!
We are also connected to several other online lenders' network able to handle hard money situations. When dealing with the Apex Associates' network you are capable of having over 900 different commercial lenders offer you the best rates available.
The following is required to get started on your Commercial Loan Application (for questions regarding Commercial Loans, please call us at 800-307-5241, or Contact Us Online):
- A letter from the borrower to Apex Associates summarizing the loan request, including all of the following information:
- Collateral property type and address;
- Property description (land size, improvement size, unit total and mix, parking, amenities, age, physical condition, and recent capital improvements);
- Current estimated value or purchase price;
- Financial activity (gross annual income, expenses paid by the owner, current occupancy rate;
- Current liens (original loan amount, current balance, interest rate, scheduled payment amount, due date, and beneficiary);
- Loan amount requested;
- Use of loan proceeds;
- Borrower net worth including liquidity, gross annual income, and sources of income.
- For sole proprietors only, a FNMA Form 1003 completed, signed and dated.
- Area, location and plat maps.
- Color photographs of the collateral property.
- A full appraisal of the property, if available.
- A Preliminary Title Report, if available, or a Property Profile.
- Purchase escrow instructions if the property is being purchased or has been purchased within the past five years.
- Copies of all liens secured by the property.
- Annual budget with 100 percent occupancy.
- Current rent roll and a lease summary.
- All leases and/or rental agreements.
- A documented history of all capital improvements executed within the past two years.
- A line-item budget with contractor estimates for any capital improvements currently needed.
- A Borrower Financial Statement, current within ninety days, signed and dated, including a balance sheet, income/expense statement, schedule of liabilities, and schedule of real estate owned.
- Personal Financial Statements for all entities owning 20 percent or more of the collateral property, current within ninety days, signed and dated, including a balance sheet, income/expense statement, schedule of liabilities, and a schedule of real estate owned.
- Personal Federal Tax Returns for the three most recent years, signed and dated, for all entities owning 20 percent or more of the collateral property, including all schedules, 1009's, W-2's and K-I's.
- A credit report on the borrower and all entities owning 20 percent or more of the collateral property, current within 30 days.
- If the property is owned by a corporation, a corporate resolution to borrow signed and dated by the secretary, accompanied by evidence of current corporate status.
- A telephone interview with the borrower by Tony Meldonian of Apex Associates.
- Execution of a Nondisclosure/Noncircumvention Agreement and Fee Agreement.
For more information on commercial loans, or to schedule a personal meeting with an Apex Associate, please Call Apex Associates today at 949-497-3600.
Contact Us Online