COMMERCIAL MEZZANINE LOAN PROGRAM

Eligible Properties All Commercial Properties except Healthcare. The loan is a second mortage we provide our borrowers with a “B” Note product that allows them to increase the loan to value an additional 5% of appraised value (up to 85% LTV) on the same term and amortization as the first loan. There is just one underwriting, one approval, one commitment and one closing process. All commercial property types (except healthcare) located within the continental United States are eligible. BLC also offers, as needed, another additional 5% mezzanine financing piece to increase the LTV to 90% (please call for details).
Borrower Individuals, Revocable Trusts, maximum 2 member LLC (no sub entities).
Loan Amount Minimum $250,000.
Loan Term Matches primary mortgage (7-15 years).
Interest Rate Tied to spreads over the ten-year Treasury.
Amortization Matches primary mortgage (up to 30 years).
Recourses Non-recourse.
Assumability Assumable, subject to approval and applicable fees.
Prepayment Declining Prepayment Fee Schedule.
Loan to Value Up to 90%.
Debt Coverage Ratio Minimum 1.07x's on combined debt service.
Rate Lock Can do early or standard rate locks.
Loan Request Package

Include the following in your request for a loan quote:

1. Completed 1003 Uniform Residential Loan Application .
2. Representative color photographs.
3. Signed current rent roll .
4. YTD Operating Statement.

COMMERCIAL PROGRAMS

TOOLS