Diversified understands your need for financing. Whether a purchase transaction or a refinance,
we understand that timing is crucial. In a commercial transaction,
a timely commitment can make or break the deal. Diversified works hard to get the
financing you need, when you need it.
Because of our diverse product line and competitive rates, you'll be sure that
you will get a perfect mortgage tailored to your individual needs.
Diversified offers borrowers the freedom to meet their needs quickly
and affordably by providing creativity, fast approvals and competitive rates.
With our national resources for capital, you can rely on us to be the
leading source for all of your commercial financing needs. We are not inhibited by
the limitations that your local banks have.
PROGRAMS
Commercial Multi-Family & Mixed-Use
Tier 1
Loan Amounts: $ 100,000 - $ 499,000
First Mortgage only
Credit type: A only
Rate: 280 - 385 Bp's over corresponding T-Bills.
Full Recourse
Points: 1.00 - 2.50
Terms: 7/25, 10/25, 15/15, 15/30 or 20/20
Max. LTV: 90%
Debt Service Coverage: 1.30 Minimum
Tier 2
Loan Amounts: $ 500,000 - $ 999,999
First Mortgage only
Credit type: A only
Rate: 280 - 345 Bp's over corresponding T - Bills.
Full Recourse
Points: 1.00 - 2.50
Terms: 7/25, 10/25, 15/15, 15/30 or 20/20
Max. LTV: 80%
Debt Service Coverage: 1.30 Minimum
Tier 3
Loan Amounts: $ 1,000,000 - $ 10,000,000
First Mortgage only
Credit type: A only
Rate: 275 - 325 Bp's over corresponding T - Bills.
Non - Recourse
Points: 1.00 - 2.50
Terms: 7/25, 10/25, 15/15, 15/30 or 20/20
Max. LTV: 80%
Debt Service Coverage: 1.25 Minimum
NOTES:
Minimum units of 5. All loans to existing buildings or those recently renovated. Minimum occupancy level of 85%. All loans assumable for a 1% assumption fee and approval of assumption by lender.
Lower rates available for properties with better debt service coverage.
Prepayment: Lockout dependent on term of loan.
Yield Maintenance applied after lockout period. 30 Year amortization also available.
B-C Credit Programs available. Pricing and terms on case by case basis.
Office Buildings
Retail Buildings
Typical programs
Industrial and Warehouse Properties
Diversified understands that these properties may have environmental issues that need to be addressed.
We work with you up front to determine if there are any detrimental issues and, if they exist, how they
can be corrected.
Specialty Properties
Hotel & Motel
Diversified will selectively aid in financing acquisition and/or refinancing
hotels with a minimum of three years historical cash flow that supports the proforma
debt service.
Loans will be considered for amounts of $ 150,000 to $ 50,000,000.
Hotels must have experienced management.
Amortization schedules range from seven to twenty years with a minimum debt service
coverage of 1.25:1, preferably 1.35:1, based on historical cash flow.
Interest rates vary depending on the individual project and the lender that
the project is placed with, but tend to be between eight and one-half and ten
percent and determined solely by the lender.
Rooming Houses / SRO's
Diversified has various programs available for financing SRO's. These properties
typically do not have leases, but rent to the tenants on a month to month basis. Diversified
understands this aspect of this unique property and works with lenders who also understand this.
Marinas
Typically a seasonal business, the monthly income can change between winter to summer months.
Diversified understands this as well as weather specific and environmental elements that make up a marina.
Mobile Home Parks
MOBILE HOME PARKS -
Minimum of 15 Pads or more. Maximum 25% Park Owned Units.
Loan amounts of $500,000 to $ $5,000,000
CHURCH AND NON-PROFIT ORGANIZATION FINANCING
- Loans for Expansion, Renovation or Relocation
- Loan Minimum $150,000
- All Denominations and Non-Profit Organizations considered
- Church or Organization must be in existence for a minimum of three years
- Documents Required:
- 1. Church Organization application (see forms)
- 2. Past three years financials of the Church or Organization
- 3. History of the Church or Organization
- 4. Pastor's Resume
- 5. Construction Cost Breakdown
- 6. Membership List
SHORT-TERM BRIDGE LOANS
We are now able to offer quick closing, 50% loan-to-value financing for any commercial application from $100K to $25 Mil.
These loans are often used for immediate need situations such as:
- Bridge loans
- Construction completion
- Tax delinquency
- Bankruptcy workout
- Partnership buyout, etc.
These loans are intended for short-term use and it is really a necessary tool for the short-term borrower.
The guidelines our investors use for a bridge loan are very simple:
- 1. 50% loan-to-value on an Income Producing commercial property.
- 2. Borrowing must be done by a corporate entity.
- 3. The loan will be made in a first position only.
Bridge loans are typically for a 12 month period, however our investors will extend the terms of these loans for a period of up to 24
months with all payments being paid on time during the prescribed term.
The borrower may renew for an additional term upon approval.
The procedure is very simple. Closing can be within a few days.
Our underwriting staff requires a limited amount of documentation for these
loans so processing time can be kept to a minimum and the borrower can be
satisfied promptly.
If this type of borrowing is of interest to your clients or you,
call or write for any additional information you may require.
Other types of Properties:
If you do not see you specific type of property listed, please do not hesitate to contact us.
We have many programs, and may not have been able to list the one that your property fits into.
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