BUSINESS CREDIT CORP by gabyion

VIEWS: 4 PAGES: 4

									               BUSINESS CREDIT CORP
                Commercial Mortgage Bankers
            “Double Stated” Commercial Mortgages
        Program Feature Highlights (Plan #’s 10 and 20)

1. No Personal Tax Returns or W2’s.
2. No Asset Check.
3. 50 Property Types – Including Difficult, Unique, &
   Non-Conventional Properties. See list at front of book.
4. Substantial Broker BackPoints Available – See Rate Sheet.
5. Easy to Approve and Close: Purchases and Cash Out Refinances.
6. “A” Credit and “B”, “C” Credit (As low as 575 credit score).
7. Loan Amounts from $200,000 to $1,000,000.
8. Higher Mortgage Amounts (Exceptions Considered with 680 Score):
     a. NO Debt Service Coverage Ratio (DSCR) for Multifamily,
       Mixed-Use, Retail Stores/Strips, Auto Repair, Office
       Buildings, Warehouses, Self-Storage, Supermarkets,
       Grocery, Convenience, Deli’s, Mobile Home Parks
     b. Low Low Debt Service Coverage Ratio.
       .50 DSCR Owner Occupied Properties, &
       .80 DSCR Investment (Non-Owner Occupied) Properties
9. Long Term - Fully Amortized Mortgages – 15 to 30 Years.
10 Maximum NINA Financing – up to 80% LTV and 90% CLTV
(with Seller Second Mortgage).



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                       BUSINE$$ CREDIT CORP.
                        Commercial Mortgage Bankers
                       (800) 669-8258          (718) 591-2400
   www.business-credit-corp.com     Email: customerservice@business-credit-corp.com

         “DOUBLE STATED” COMMERCIAL MORTGAGES
               “A -” Credit Underwriting Matrix: (640 middle score)
  Programs: 1 Year Arm, 2 Yr. Fixed/6 Month Arm, 5 Yr. Fixed/6 Month Arm, Fixed Rate.
            Mortgages: $200,000 - $1,000,000            Plan # 20.A- 12/1/05

Tier 1: Need BIGGER MORTGAGE?-
Request Exception:   “NO DEBT SERVICE COVERAGE RATIO” Waiver (Urban Areas)
Multi-family (5+), Mixed Use: Store(s) & Dwelling(s), Office(s) & Dwelling(s)
      Maximum: LTV - CLTV                          Amortization Term
               70% - 90%                           15, 20, 25, 30 Years
Tier 2: Need BIGGER MORTGAGE? –
Request Exception “NO DEBT SERVICE COVERAGE RATIO” Waiver (Urban Areas)
Retail Stores/Strips, Office Buildings, Warehouses, Auto Repair Shops, Auto
Dealers, Self-Storage, Laundromats, Dry Cleaners, Supermarkets/Grocery,
Convenience/Deli’s, Mobile Home Parks, Marinas (Ocean)
      Maximum: LTV – CLTV                          Amortization Term
                     65% - 90%                     15, 20, 25, 30 Years
Tier 3: Concerned about WEAK RENT ROLL or HIGH EXPENSES? –
Request Exception: Reduced .50 OWNER OCCUPIED “DEBT SERVICE COVERAGE
                    RATIO” & .80 INVESTOR “DSCR” (Urban Areas)
Rooming Houses, SRO’s, Bed & Breakfasts, Campgrounds, Car Washes
      Maximum: LTV - CLTV                          Amortization Term
                     60% - 90%                     15, 20, 25 Years
Tier 4: Concerned about WEAK RENT ROLL or HIGH EXPENSES? –
Request Exception: Reduced .50 OWNER OCCUPIED” DEBT SERVICE COVERAGE
                    RATIO” & .80 INVESTOR “DSCR” (Urban Areas)
Industrial & Factories, Hotel - Motels, Restaurants, Bars, Funeral Homes,
Day Care Centers, Bowling Alleys, Casinos, Golf Centers, Marinas (lake),
Other Special Purpose.

      Maximum: LTV - CLTV                          Amortization Term
                     60% - 90%                     15, 20, 25 Years

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                     BUSINE$$ CREDIT CORP.
                       Commercial Mortgage Bankers
                     (800) 669-8258           (718) 591-2400
   www.business-credit-corp.com    Email: customerservice@business-credit-corp.com

        “DOUBLE STATED” COMMERCIAL MORTGAGES
              “B” Credit Underwriting Matrix: (600 middle score)
 Programs: 1 Year Arm, 2 Yr. Fixed/6 Month Arm, 5 Yr. Fixed/6 Month Arm, Fixed Rate.
           Mortgages: $200,000 - $1,000,000            Plan # 20.B 12/1/05


Tier 1: Maximum Combined Loan-to-Value = 90%
Multi-family (5+), Mixed Use: Store(s) & Dwelling(s), Office(s) & Dwelling(s)
     Maximum: LTV - CLTV                          Amortization Term
              70% - 90%                           15, 20, 25 Years

Tier 2: Maximum Combined Loan-to-Value = 90%
Retail Stores/Strips, Office Buildings, Warehouses, Auto Repair Shops, Auto
Dealers, Self-Storage, Laundromats, Dry Cleaners, Supermarkets/Grocery,
Convenience/Deli’s, Mobile Home Parks, Marinas (Ocean)
     Maximum: LTV – CLTV                          Amortization Term
                  65% - 90%                       15, 20, 25 Years

Tier 3: Maximum Combined Loan-to-Value = 90%
Rooming Houses, SRO’s, Bed & Breakfasts, Campgrounds, Car Washes
     Maximum: LTV - CLTV                          Amortization Term
                  60% - 90%                       15, 20, 25 Years

Tier 4: Maximum Combined Loan-to-Value = 90%
Industrial & Factories, Hotel - Motels, Funeral Homes, Day Care Centers,
Bowling Alleys, Casinos, Golf Centers, Marinas (lake), Other Special Purpose.

     Maximum: LTV - CLTV                          Amortization Term
                  55% - 90%                              15, 20, 25 Years




                                                                                 11
                     BUSINE$$ CREDIT CORP.
                       Commercial Mortgage Bankers
                     (800) 669-8258           (718) 591-2400
   www.business-credit-corp.com    Email: customerservice@business-credit-corp.com

        “DOUBLE STATED” COMMERCIAL MORTGAGES
              “C” Credit Underwriting Matrix: (575 middle score)
 Programs: 1 Year Arm, 2 Yr. Fixed/6 Month Arm, 5 Yr. Fixed/6 Month Arm, Fixed Rate.
      Mortgages: $200,000 - $500,000 for C Credit            Plan # 20.C 12/1/05

Tier 1: Maximum Combined Loan-to-Value = 90%
Multi-family (5+), Mixed Use: Store(s) & Dwelling(s), Office(s) & Dwelling(s)
     Maximum: LTV - CLTV                          Amortization Term
              55% - 90%                           15, 20, 25 Ye ars
Tier 2: Maximum Combined Loan-to-Value = 90%
Retail Stores/Strips, Office Buildings, Warehouses, Auto Repair Shops, Auto
Dealers, Self-Storage, Laundromats, Dry Cleaners, Supermarkets/Grocery,
Convenience/Deli’s, Mobile Home Parks, Marinas (Ocean)
     Maximum: LTV – CLTV                          Amortization Term
                  55% - 90%                       15, 20, 25 Years




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