While some borrowers could be fine with a fully recourse loan, others might need or want to look into a non-recourse alternative. You may find that our commercial first mortgages are a good fit for your present financing needs, as they include the non-recourse clause you’ve been searching for.
Non-Recourse Loans: What to Expect
The concept of recourse is widely used in the world of commercial lending, although its precise meaning is often misunderstood. You should have a firm grasp on the implications of this type of loan before you apply for one. In the event of a default on a non-recourse loan, the lender is only entitled to the collateral used to secure the loan; the borrower’s other assets are not at risk. But if the value of the property isn’t enough to cover the obligation, the lender can go after the borrower’s other assets with a full-recourse loan. Our non-recourse policy includes the customary industry “bad boy” exclusions.
We Offer Forgivable Loan Options
Our goal at SteveKnowsLoans is to offer market-beating loan conditions across the board. Our commercial lending programs provide funding for apartment complexes, office buildings, and mixed-use assets at loan-to-value ratios of up to 80%. Our maximum loan-to-value (LTV) for hotels is 70%, whereas for other forms of commercial property it is 75%. We offer loans from $500,000 to $50,000,000, and they are accessible everywhere in the country. These loans typically have a period of 30 years and are fully amortized over that time, though terms of less years may be available. To be eligible, you need a DSCR of 1.25 or higher. Tenant improvements, insurance, taxes, replacement reserves, and leasing commissions all factor towards the total reserve amount.
Interest Rates That Are Competitive
Our commercial non-recourse loan packages offer fixed rates that are below market average after five years and after ten years.
Inquire with us about the program, and we’ll fill you in on the latest pricing and payment details.
SteveKnowsLoans is here to help you navigate the process of locating a suitable non-recourse loan product. Our lending procedures are brisk, and our prices and conditions are among the most favorable in the industry. Call us at 813-616-9411 for additional information about our non-recourse commercial programs for the first line position.
If you have any questions about non-recourse business mortgages, please don’t hesitate to contact our office.
Call Steven Jackson at 813-616-9411 now!
