MIOYM COMMERCIAL CAPITAL

We specialize in business purpose real estate financing

All of our lending programs are focused on commercial commerce within the real estate world.

The MIOYM COMMERCIAL Capital Markets group has an in-depth understanding of the lending process, from sourcing to loan origination to compliance to closure. MIOYM’s in-house staff collaborate directly with corresponding banks and broker affiliates to facilitate lending transactions. Bridge loans are an integral vehicle and process to finance real estate opportunities.

FIX & FLIP

Qualifying Information

Up to 90% Fix and Flip Financing
SFR 1-4, MULTIFAMILY 5-20+,
CONDO, TOWNHOME, MIXED-USE (SELECT COMMERCIAL REHAB)
LOAN MIN: $75K
LOAN MAX: $5+ MILLION
TERM: 12-18 MONTHS
NO PREPAY PENALTY
RATES STARTING AT 7.49%
PURCHASE, REFI, CASH OUT
FOREIGN NATIONAL OK
HEAVY REHAB OK
650 MIN FICO

BRIDGE

Qualifying Information

SFR 1-4, MULTIFAMILY 5-20, MULTIFAMILY 20+, CONDO, TOWNHOME, MIXED- USE, COMMERCIAL
LOAN MIN: $75K
LOAN MAX: $10+ MILLION
65-85% LTV
TERM: UP TO 36 MONTHS
RATES STARTING AT 5.5%
PURCHASE, REFI, CASH OUT
FOREIGN NATIONAL OK
650 MIN FICO

RENTAL HOLD

Qualifying Information

SFR 1-4, MULTIFAMILY 5+,
CONDO, TOWNHOME, MIXED-USE
LOAN MIN: $75K
LOAN MAX: $5+ MILLION
PURCHASE, REFI, CASH OUT
30 YR FIXED (3YR, 7YR, 10YR FIXED) OR 2+1
RATES FROM 5.5%
FOREIGN NATIONAL OK
650 MIN FICO
*PORTFOLIOS/BLANKETS REQUIRE MIN VALUE OF $75K PER PROPERTY

GROUND UP CONSTRUCTION

Qualifying Information

LOAN SIZE : $100,000 to $10,000,000
LOAN TERMS: 2-36 months
LOAN PURPOSE: Purchase, Refinance
BORROWER: Resume/Summary of experience (showing 1+ previous, completed deals), Personal financial statement
MAX LTV: 75% of purchase price, 100% of rehab, 75% of ARV, 85% Loan to Cost
INTEREST RATES: Starting at 8.49%
PROPERTY TYPES: Multi Family, SFR, Town homes

SMALL BALANCE COMMERCIAL BRIDGE LOAN

Qualifying Information

LOAN SIZE: $1,000,000 to $20,000,000
LOAN TERMS: Up to 3 years
BORROWER: Credit Score – Minimum 650
STABILIZED TARGET LTV: 60% special use, 75% generic, 80% multifamily
INTEREST RATES: As low as 8.49%
PROPERTY TYPES: Multifamily, Retail, Mixed used, Office buildings, Industrial and warehouse, Self-storage, Strip centers

MULTI FAMILY/MIXED USE BRIDGE LOAN

Qualifying Information

LOAN SIZE: $500,000 to $10,000,000
LOAN TERMS: Typically 12-36 months during the initial loan term, No pre-payment penalty
BORROWER: Credit Score – Minimum 650
STABILIZED TARGET LTV: 75% Multifamily
INTEREST RATES: As low as 7.99%
CASH-FLOW REQUIREMENTS: Interest reserves if no in-place cash flow available
PROPERTY TYPES: Multifamily, Mixed use

RENTAL 360

Qualifying Information

LOAN SIZE: $100,000 to $2,000,000
LOAN TERMS: 30 year fixed, 5, 7, 10-year hybrid, 30 Year amortization
LOAN PURPOSE: Purchase, Rate/term refinance, Cash-out refinance
BORROWER: Business entity, Credit Score: Minimum 620
MINIMUM DSCR: No DSCR option available with 75% LTV at slightly higher rates. Call for more information.
PREPAYMENT PENALTIES ARE: 3% 1st year, 2% 2nd year, 1% 3rd year, Other options available, We now offer a no prepayment penalty option!
MAX LTV: Up to 85% for Purchase and Rate & Term Refinances, Up to 75% for Cash Out Refinances
INTEREST RATES: From 6%+
CASH-FLOW REQUIREMENTS: Qualifying income based on property cash flows, No Doc Loan, No W2, tax returns or 4506T required, Must have: own/owned 1 property (Primary or Investment), or hire a property manager, Closing in less than 30 days
LOCATIONS: Generally urban or suburban locations in primary, secondary, or tertiary markets.
PROPERTY TYPES: 1-4 unit attached/detached properties, PUDs, Condominiums

REAL ESTATE PORTFOLIO LOAN

Qualifying Information

LOAN SIZE: Minimum loan size $150k
LOAN TERMS: 30 year term, 30 year amortization, 5/1, 10/1 ARM, and interest only options available
BORROWER: Credit Score: Minimum 680
MAX LTV: 75% max for purchase and refinances
INTEREST RATES: From 6%+
PROPERTY TYPES: Single family residential, Multi-family 2-4 unit & 5-50, Condos, Townhomes, Min. unit count is 2 units

1. Short-Term Nature:

Bridge loans are typically short-term loans, often with a term of 6 to 18 months. They are designed for quick turnaround projects like house flipping or property development.

2. Higher Interest Rates and Fees:

Since bridge loans are considered higher risk for the lender, they generally come with higher interest rates than traditional bank loans. Additionally, borrowers might need to pay upfront fees and points (a percentage of the loan amount) to secure the loan.

3. Speed and Flexibility:

One of the critical advantages of bridge loans is their quick approval process. Private lenders can often make decisions faster than traditional banks, which is crucial for real estate investors looking to secure a property quickly.

4. Collateral-Based:

The property itself serves as collateral for the loan. If the borrower fails to repay the loan, the lender can seize and sell the property to recover the investment.

5. Loan-to-Value (LTV) Ratio:

Lenders determine the loan amount based on a percentage of the property’s current or after-repair value (ARV). LTV ratios for bridge loans are typically lower than those for traditional mortgages, often ranging from 50% to 70% of the property’s value.

6. Exit Strategy:

Bridge loan lenders are concerned about how the borrower plans to repay the loan. For house flippers, the repayment strategy is usually selling the property at a higher price after renovation. For developers, it might involve refinancing or selling the property.

7. Experience Matters:

While creditworthiness is less of a concern, bridge loan lenders often take the borrower’s experience and track record into account. They want to ensure the borrower has the skills and knowledge to complete the project and repay the loan.

8. Risk Considerations:

Bridge loans come with higher risks due to their short-term nature and higher interest rates. If the real estate market takes a downturn or the project goes differently than planned, borrowers could avoid facing challenges in repaying the loan.

9. Regulation and Licensing:

Depending on your jurisdiction, there might be regulations or licensing requirements for private lenders offering bridge loans. Always research the legal aspects before entering into any lending agreement.