Local Mortgage Lender Announces Easing of Credit Restrictions on Commercial Mortgages
"It seems as if the credit crunch has eased,” announces local lender.
Woodstock, GA, December 06, 2007 --(PR.com)-- Preferred Funding Group, Inc, a local leader in small-balance commercial mortgage lending, has recently added many new features to their existing commercial loan programs. The Woodstock based lender is now offering expanded loan-to-value (LTV) ratios, enhanced loan terms and new property types.
Borrowers with strong qualifications can now qualify for up to 97 percent LTV financing on properties including retail and office space, multi-family residences (over 4 units) 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. "It seems as if the credit crunch has eased”, stated Pat Meazell, executive vice president and commercial lender at Preferred Funding Group. “Even though 97 percent LTV is not unusual for our residential mortgages, it represents a significant breakthrough when it comes to commercial lending, especially when the big banks are cutting their Loan to Values and tightening their credit requirements."
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.
While the company's main core programs are office/retail/condominiums, they have a wide menu of programs for different 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 and guidelines.
“We have many programs that can help the small business finance their real estate needs”, states Meazell. “We are able to assist the local entrepreneur that might not have a large down payment for their location, even though their past 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 and residential loans.
For more information, Call Pat Meazell at 770-516-5144, email Pat@Preferred-funding.com or visit www.Preferred-funding.com.
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Borrowers with strong qualifications can now qualify for up to 97 percent LTV financing on properties including retail and office space, multi-family residences (over 4 units) 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. "It seems as if the credit crunch has eased”, stated Pat Meazell, executive vice president and commercial lender at Preferred Funding Group. “Even though 97 percent LTV is not unusual for our residential mortgages, it represents a significant breakthrough when it comes to commercial lending, especially when the big banks are cutting their Loan to Values and tightening their credit requirements."
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.
While the company's main core programs are office/retail/condominiums, they have a wide menu of programs for different 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 and guidelines.
“We have many programs that can help the small business finance their real estate needs”, states Meazell. “We are able to assist the local entrepreneur that might not have a large down payment for their location, even though their past 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 and residential loans.
For more information, Call Pat Meazell at 770-516-5144, email Pat@Preferred-funding.com or visit www.Preferred-funding.com.
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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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