Program A1

INCOME PRODUCING REAL ESTATE
INCOME QUALIFYING BUSINESS LOAN

LOAN AMOUNT
- Minimum: $25,000
- Maximum: $500,000
LOAN TERM 5 Years – 25 Years
RATE - Fixed Rate- Adjustable Rate
ARM INDEX Wall Street Journal Prime
PREPAYMENT PENALTY - 5% Months 1-12
– 4% Months 13-24
– 3% Months 25-36
– 2% Months 37-48
– 1% Months 49-60
PERSONAL GUARANTEES Personal guarantees are required on all loans.
MAXIMUM COMBINED LOAN TO VALUE CLTV’s considered up to 80% on a case by case basis
MINIMUM PROPERTY VALUE $75,000 OR $12,000 per unit
LIEN POSITION First liens on primary collateral
OCCUPANCY
- Owner Occupied
- Non-Owner Occupied
CASH OUT REFINANCES Maximum cash to borrower is $150,000
MINIMUM DEBT SERVICE COVERAGE RATIO - See Program Grid for DSCR by Property Type
– All loans qualified at the program note rate
– For loan less than $250,000 a debt ratio of 45% can be employed for alternative
CREDIT QUALITY MORTGAGE - Mortgage must be current
– Mortgage must have been rated for at least 24 months
– Mortgage rating cannot have more than 2 30-day delinquencies in the prior 12 month period.
CREDIT QUALITY CONSUMER CREDIT Majority of accounts must be paid “AS AGREED” Limited 30 day and 60 day delinquencies allowed with explanation.
CHARGE OFFS/ COLLECTIONS/ BANKRUPTCIES - Charge offs are not allowed in the prior 12 month period
– Charge Offs over $500are not allowed in the period between months 13 and 24
– Open chargeoffs must be paid prior to or at closing
– Bankruptcies are not allowed in the prior 2 year period
APPRAISALS An Apex obtained appraisal is required on all properties.
ENVIRONMENTAL - All loans must have an environmental questionnaire completed.
– All loans require the payment of an Environmental Processing Fee of $500-$1,500.
AGE OF DOCUMENTATION - Credit documents cannot be more than 90 days old
– Appraisals must be less than 60 days old at the time of closing.
ELIGIBLE PROPERTY TYPES See attched LTV list
INELIGIBLE PROPERTY TYPES
  • Auto Repair/ Auto Body
  • Church/ House of Worship
  • Gas Stations
  • Salvage Yards
  • Farmland/ Rural Properties
  • Vacant Lots
  • Manufacturing/ Industrial Properties
  • Dry Cleaners (drop off/pick up considered)
  • Condo Hotels
  • Cooperatives
  • Manufacturing Housing/ Mobile Homes
  • Assisted Living Facilities
  • Bar/Restaurants
PROPERTY TYPES MAX LTV & DSCR
OWNER OCCUPIED/NON-OWNER OCCUPIED
Single Family Residence (additional collateral only)
70 100 1.20 If 100% investment property
2-4 unit property
70 1.25 1.35 If 100% investment property
5+ unit property
70 1.25 1.35 If 100% investment property
Motel/Hotel
65 1.30 1.75 If 100% investment property

 

Mixed Use (commerical & residential)
70 1.25  1.35 If 100% investment property

 

Professional Office Space
70 1.25 1.35 If 100% investment property

 

Retail Store (Free/Strip Standing)
65 1.35 1.55 If 100% investment property

 

Mobile Home Park
65 1.35 1.55 If 100% investment property

 

Office/Warehouse
60 1.35 1.75 If 100% investment property

 

Church/House of Worship
60 1.25 O/O only

 

Garage/Storage/Auto
750 1.40 O/ O only

 

Small Commercial
65 1.35  1.55 If 100% investment property

 

UNDERWRITING DOCUMENTS REQUIRED 1. Summary sheet
2. COMPLETED 1003 application
3. Credit report

Call 866-227-4012 or visit www.trinixcommercialcapital.com for a free
no obligation consultation on any of these programs!