Local Lender Rolls Out Creative Commercial Programs
Woodstock, GA, June 15, 2007 --(PR.com)-- Preferred Funding Group, Inc, a local leader in small-balance commercial mortgage lending, recently added several new features to their existing loan programs. The Woodstock based lender is offering expanded loan-to-value (LTV) ratios, enhanced loan terms and new property types.
Borrowers with strong qualifications can now qualify for 97 percent LTV financing on properties including retail and office space, multi-family residences and mixed-use, among many others. Borrowers with a B credit grade can finance up to 80-90 percent if owner occupied and up to 80 percent if investor financing. "Even though 97 percent LTV is not unusual for residential mortgages, it represents a significant breakthrough when it comes to commercial lending," stated Pat Meazell, executive vice president and commercial lender at Preferred Funding Group.
Additionally, the company announced that three, five and 10-year intermediate adjustable-rate mortgages (ARMs) are available, thereby expanding the product offering from a six-month ARM to fully amortizing 30-year fixed-rate programs and everything in between. The fixed-rate programs feature a declining rate option that reduces the rate 50 basis points every five years, providing the borrowers make their payments as scheduled.
While the company's core programs are available on a wide range of property types, Preferred Funding Group, Inc. has included restaurants, gas stations/c-stores, churches and many other property types to the offering at different LTVs.
“We have many programs that can help the small business finance their real estate needs”, states Meazell. “Even though their credit has been damaged, even if they cannot verify their income, we can help”. These enhancements expand the company's broad product offering. Preferred Funding Group, Inc. offers their core mortgage programs from $100,000 to $3 million. Further, they provide specialty programs up to $5 million on a case-by-case basis.
Preferred Funding Group, located in Woodstock, offers an alternative to bank financing for commercial loans.
For more information, Cal Pat Meazell at 770-516-5144
Pat@Preferred-funding.com or
Visit www.preferred-funding.com.
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Borrowers with strong qualifications can now qualify for 97 percent LTV financing on properties including retail and office space, multi-family residences and mixed-use, among many others. Borrowers with a B credit grade can finance up to 80-90 percent if owner occupied and up to 80 percent if investor financing. "Even though 97 percent LTV is not unusual for residential mortgages, it represents a significant breakthrough when it comes to commercial lending," stated Pat Meazell, executive vice president and commercial lender at Preferred Funding Group.
Additionally, the company announced that three, five and 10-year intermediate adjustable-rate mortgages (ARMs) are available, thereby expanding the product offering from a six-month ARM to fully amortizing 30-year fixed-rate programs and everything in between. The fixed-rate programs feature a declining rate option that reduces the rate 50 basis points every five years, providing the borrowers make their payments as scheduled.
While the company's core programs are available on a wide range of property types, Preferred Funding Group, Inc. has included restaurants, gas stations/c-stores, churches and many other property types to the offering at different LTVs.
“We have many programs that can help the small business finance their real estate needs”, states Meazell. “Even though their credit has been damaged, even if they cannot verify their income, we can help”. These enhancements expand the company's broad product offering. Preferred Funding Group, Inc. offers their core mortgage programs from $100,000 to $3 million. Further, they provide specialty programs up to $5 million on a case-by-case basis.
Preferred Funding Group, located in Woodstock, offers an alternative to bank financing for commercial loans.
For more information, Cal Pat Meazell at 770-516-5144
Pat@Preferred-funding.com or
Visit www.preferred-funding.com.
###
Contact
Preferred Funding Group, Inc
Pat Meazell
770-516-5144
www.preferred-funding.com
Pat Meazell
770-516-5144
www.preferred-funding.com
Contact
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