Give investors and business owners more of what they want: lower rates, greater flexibility, and faster closings.
Be the hero for today’s borrower: offer competitive pricing on loans from Silver Hill and help them secure funding in challenging times.
CommercialProgram | 1-4-Unit InvestorProgram |
|
|---|---|---|
| Purpose | Purchase/Cash-Out/Refinance | Purchase/Cash-Out/Refinance |
| Loan Sizes | $100K - $2MM | $100k - $2MM |
| Terms | 5-Year ARM 30-Year Fixed | 5-Year ARM 30-Year Fixed |
| Amortization | 15,25,30 | 15,25,30 |
| Max LTV | <$500K: 75% >$500K: 70% | <$500K: 75% >$500K: 70% |
| Min FICO | 650 | 650 |
| Min DSCR | Owner-Occupied: 1.2* Investor: 1.15** | 1.0* |
| Stabilization | 75% occupancy required over a 90-day trailing UW period** | SFR/Duplexes - 100% Triplexes - 66.67% 4-Plexes - 75% |
| UW Method | Owner-Occupied: Global DSCR Investor: Property DSCR | Property DSCR |
| Documentation | 2 years personal and business tax returns | No tax returns required. Leases if using actual rents |
| Eligible Properties | Tier I: Multifamily, Mixed-Use (primary res) Tier II: Retail, Mixed-Use (primary comm), Warehouse/Self-Storage, Office, Light Industrial, Automotive, Mobile Home Park | 1-4-Unit Attached/Detached, PUD, Single Family, Townhome |
| Pre-Payment Penalty | 5% for 5 years | 5% for 3 years | Declining 5%, 4%, 3%, 2%, 1% | 5% for 5 years | Declining 3%, 2%, 1% | Declining 5%, 4%, 3%, 2%, 1% |
*Debt service requirement is based on borrower’s FICO score and may be higher than figures shown.
**Not applicable if property is purchased as a new space or expansion.
Note: Underwriting guidelines have changed to reflect today’s environment. Contact your Regional Manager today to learn how we are approving loans in 2020.
| General Guidelines | |
|---|---|
| Reserves Requirement | 6+ months of liquid financial reserves measured by number of months of the qualifying principal and interest payment of the subject property for all purchase, cash-out, and rate/term transactions |
| Buy Downs | 0.375% = 1 point cost |
| Caps/Floors | WSJ Prime Index plus margin on note date | Initial Reset and Annual Adjustment Cap: 2% | Life Cap: Initial rate +6% | Life Floor: Initial rate |
| Broker Compensation | Origination: Up to 2 points | YSP (Rate/Margin increase 0.375%): 1 point |
Why do Brokers Choose Silver Hill Funding?
Top 5 Reasons
Case Study
Closed Loan in Sacramento, California
Self-Storage | $1,584,000
PROBLEM
An investor in California wanted to refinance their commercial mortgage but was unable to get the cash-out they needed from their current lender.
SOLUTION
Silver Hill Funding provided a more flexible alternative solution that made it possible for the borrower to obtain the full cash-out amount.
Success Stories
An investor in California wanted to take cash out of their mixed-use property and they needed a quick closing. Thanks to Silver Hill, the borrower was able to lock in a great rate – despite the fact that they never produced tax returns during the transaction.
A group of investors wanted to purchase a recently stabilized multifamily property after a full remodel. Silver Hill was able to approve the loan despite the stabilization issues and allowed the investors to purchase the property with just a 20% down payment.
A business owner wanted to execute a cash-out refinance but they were denied SBA financing. Thanks to Silver Hill’s Bank Statement Program, the borrower was able to get approved without having to submit tax returns.
Silver Hill was able to provide the perfect alternative solution for this business owner after their bank decided not to approve their refinance request.
Have a Deal Right Now?
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