A rundown of the types of deals you can quickly close with Silver Hill Funding
Before you can suggest the best commercial mortgage solution for a client, you must be able to quickly identify and distinguish between each available option. That can be a complicated process, especially if you maintain a stable of lenders that offer similar products.
We at Silver Hill Funding, LLC want to make your life easier. Here’s a quick description of our “sweet spot” – the types of deals you can quickly and easily close with Silver Hill. You can use this post as a quick reference guide as you identify the best fit for your new multifamily and commercial scenarios.
Don’t forget – the quickest way to see whether or not a deal fits our guidelines is to reach out to your Silver Hill Regional Manager. They can give you immediate feedback and help you take the next steps if the scenario appears to make sense for us.
The Silver Hill Sweet Spot
Silver Hill Funding provides alternative small-balance commercial loans for business owners and investors who can’t or won’t work with traditional banks.
Our commercial mortgage experts have closed thousands of these deals. As a result, the team here at Silver Hill is uniquely qualified to provide ideal solutions for a wide variety of prospective borrowers.
Here are a few basic program highlights:
|Loan Amounts:||$250K – $5MM|
|Term:||5- or 7-yr Hybrid|
|Amortization:||20, 25, 30|
|Loan Purpose:||Purchase, Refi, Cash-Out|
|Min. Middle Credit Score:||650|
|Eligible Markets:||Top 200 MSAs|
2. The Borrower
The typical Silver Hill borrower is a creditworthy investor or small business owner who requires more flexibility than traditional banks are able or willing to provide.
The challenges these borrowers face often stem from documentation issues – either because the borrower is unable to provide the amount of documentation a traditional lender requires or because the documentation does not accurately describe the borrower’s current financial position.
Borrowers also choose us because they need to secure financing quickly but do not wish to pay the high fees and interest rates associated with hard money lenders. With an average transaction length of around 30 days, Silver Hill fills the gap between hard money lenders and traditional banks.
Our borrowers typically face one or more of the following issues:
- They are unwilling or unable to produce certain documentation (e.g., tax returns)
- They want to take out a hard money loan with a longer-term solution
- They need fewer restrictions on a cash-out refinance
- They can’t meet other lenders’ seasoning requirements
- They can’t qualify for bank or SBA programs but do not wish to pay hard money rates
Borrowers who are eligible for Silver Hill’s programs include U.S. citizens, permanent resident aliens, and legal entities.
3. The Property
Silver Hill lends on a wide range of commercial and multifamily property types, including:
We lend in the top 200 MSAs, with a general focus on urban or suburban locations in primary, secondary, or tertiary markets.
We believe it’s also important to know what we don’t do. Some ineligible property types include:
- Raw land and agricultural properties
- New construction
- Environmentally sensitive properties
- Adult entertainment
- Properties that need significant rehab
- Special use properties (marinas, ice skating rinks, golf courses, etc.)
One of the best ways to get a sense of the types of properties Silver Hill transacts on is to visit our closed loan page. You can see property photos and read more about the characteristics that made each deal a strong fit for Silver Hill.
4. Our Programs
Silver Hill’s commercial loan programs were designed to solve the specific issues facing investors and business owners in today’s market. Here is a quick breakdown of our solutions for your clients:
|Program||Borrower||Loan Size||Max LTV||Docs|
|Complete||Investor/Owner-Occ.||$250K – $2MM||80%||Full|
|Lite Doc Investor||Investor||$250K – $2MM||80%||No tax returns/ 4506T|
|Stated Owner-Occupied||Owner-Occupied||$250K – $2MM||80%||No tax returns/ 4506T|
|Bank Statement||Owner-Occupied||$250K – $2MM||80%||No tax returns/ 4506T|
|1-4 Plex||Investor||$100K – $2MM||80%||No tax returns/ 4506T|
|Bridge||Investor/Owner-Occ.||$1MM – $5MM||80%||Full|
|Mini-Perm||Investor/Owner-Occ.||$1MM – $5MM||80%||Full|
You can quickly view a full core product sheet here. For detailed pricing information, simply reach out to your Silver Hill Regional Manager. They can send you a pricing matrix and answer any additional questions you may have.
5. Broker Benefits
Silver Hill’s commercial loan programs were designed to solve the specific issues facing investors and business owners in today’s market.
When we say we “speak small-balance,” we’re saying that we understand the unique needs of commercial borrowers and mortgage brokers. And we’re always working to ensure you have a great experience when you partner with Silver Hill. Here are some of the benefits we offer mortgage brokers:
- YSP is available (ask your Regional Manager for more information)
- Brokers protected
- Par pricing
- Free marketing collateral on demand
Ready to take the next step with Silver Hill Funding?
We want to be the first stop for all of your small-balance commercial scenarios. Please contact your Regional Manager today to discuss your opportunities for success.
*Any compensation to be paid by Silver Hill Funding, LLC to an approved broker shall be subject to the terms and conditions set forth in a valid, fully executed Broker Agreement by and between Silver Hill Funding, LLC and the approved broker. YSP is not available for Bridge or Mini-Perm Programs.