eLease International has recently expanded it's areas of interest in the commercial real estate market and now offers more programs on several property types. Both conventional and bridge financing is available in most cases. The following is a breakdown of areas of interest and some term specifics associated with each.
- Conventional / Permanent Financing
- Bridge / Temporary Financing
Loan documentation requirements: commredocumentation.pdf
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| Property Type |
Program Type |
Min. Credit Score |
Max LTV |
Rate Range |
Documentation |
|
Multi-family |
Conventional |
600 |
75% |
6.5%-8.5% |
full |
| |
Bridge |
500 |
60-65% |
9%-13% |
partial |
|
Mixed Use |
Conventional |
600 |
75% |
6.5%-8.5% |
full |
| |
Bridge |
500 |
60-65% |
9%-13% |
partial |
|
Office |
Conventional |
600 |
75% |
6.5%-8.5% |
full |
| |
Bridge |
500 |
60%-65% |
9%-13% |
partial |
|
Retail-strip |
Conventional |
650 |
75% |
7%-9% |
full |
| |
Bridge |
550 |
60% |
9%-13% |
partial |
|
Warehouse |
Conventional |
650 |
75% |
7%-9% |
full |
| |
Bridge |
550 |
55% |
9%-13% |
partial |
|
Auto Repair |
Conventional |
650 |
70% |
7%-9% |
full |
| |
Bridge |
550 |
55% |
9%-13% |
partial |
|
Light Industrial |
Conventional |
650 |
75% |
7%-9% |
full |
| |
Bridge |
550 |
65% |
10%-14% |
partial |
|
Flagged Hotel |
Conventional |
650 |
70%-75% |
7%-9% |
full |
| |
Bridge |
550 |
60% |
10%-14% |
partial |
|
Non-flagged Hotel |
Conventional |
650 |
65%-70% |
8%-10% |
full |
| |
Bridge |
550 |
55% |
11%-15% |
partial |
|
Special Use |
Conventional |
650 |
60%-65% |
8%-10% |
full |
| |
Bridge |
550 |
50% |
11%-15% |
partial |
|
Land |
Bridge |
550 |
40%-50% |
11%-15% |
partial |
Note: Loan sizes range from $250,000 to $20Million. Blanket loans do not fit into conventional loan programs. No second mortgages available.
Rates as of August 23, 2009
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