Commercial Blanket Loan Blanket Mortgage Lenders
Consolidating commercial properties to get a blanket loan is one avenue to real estate developers or investment groups. The main criteria for a commercial blanket loan to get approval is the types of properties. Rental properties, apartments, multifamily and any tenant based cash producing properties are considered “ golden assets” for direct financing. Apartment refinancing or cash out refinancing by using a blanket loan could save an investor money.
What are the problematic properties in a commercial blanket loan? Several types of mixed use scenarios spanning different states. Now you are looking at problems getting a blanket loan financed.
Conventional financing companies will look at the property type as one of the crucial factors in underwriting a commercial blanket loan.
In terms of private commercial lending companies an investment property blanket loan could be facilitated quicker and with less hassle but it will cost. If the strategy for the exit scenario is the get an FHA, conventional SBA or bank financing this may be the best option. If there are issues with your bank you may need a blanket financing with private mortgage lenders for bad credit
Residential Mortgage Blanket Loans
Blanket loans for residences or residential homes has its own challenges. If the strategy is to rehab or rehabilitate a residential group of properties there may be a better way via (rehab investor cross collateralize financing) It depends on the functionality required of the loan be it “ singular rehabs” or a group residential refinance blanket loan.
Blanket mortgage loans usually refer to residences that are grouped One other facet and good property type is condos. Condo blanket loans are the same as a rental property the main difference may be how the rent roll is structured in the underwriting of a condo blanket mortgage loan. The DSCR/ debt service coverage ratio is utilized in all cash income producing business properties and will assist the procurement of a rental property or condo blanket mortgage loan.
Using a Non Bank Commercial Lender
Any non bank commercial lender will look at investor residential and commercial blanket loans. We work with problematic financing including commercial real estate bad credit and bankruptcy situations. Commercial Financing for Small Apartment Buildings, apartment loans, multifamily, rental property and commercial real estate cash out refinance loans. If a blanket loan is what you need for your apartments or rental properties contact us today.