Small business owners have a pressing need for small-balance commercial mortgages. The problem? Most don’t qualify for SBA loans or other traditional financing options.
That changes with Silver Hill. Take advantage of new alternative solutions to fund these transactions and generate additional fee income — fast and hassle-free.
Credit-worthy business owners looking for an alternative to restrictive bank financing.
Owner-occupied transactions where the business owner has difficulty documenting their income for traditional lenders.
Business owners who prefer to prove their income by providing 12 consecutive months of business bank statements instead of tax returns.
Silver Hill Funding, LLC (Silver Hill), a national small-balance commercial mortgage lender, today announced the addition of Joe Altomonte as Assistant Vice President of Business Development.Read More
Silver Hill Funding, LLC has named Nina Hamilton-Lee as Head of Operations, overseeing management of the processing, closing, and quality control departments.Read More
We’ve noticed an interesting trend in 2019. This year, half of our commercial lending webinar attendees have described themselves as being residential mortgage pros! If you’reRead More
Silverhill is a great company to work with for certain commercial loan transactions. We closed a difficult loan together in a timely fashion. The Silverhill team kept me informed regarding the process and we had a successfully closing together. I am definitely keeping Silverhill in mind for the next loan I have that fits their guidelines. Thank you Silverhill – SDG Lending, Inc.
Silver Hill Funding’s customer service includes a personal touch that makes all the difference during a small-balance commercial transaction. They are able to provide solutions that traditional lenders simply cannot match, and I look forward to working with their team again soon. – Tom Chessher, Chessher Financial Group, LLC
Closing a loan with Silver Hill feels like coming home. The process was extremely easy from submission to closing, and Silver Hill’s attention to detail and clear communication during each stage reminded me why I’ve always enjoyed doing business with their team. – Jeff Barber, Lehigh Financial Group, LLC
Danielle made an opportunistic investment and purchased an underperforming 12-unit multifamily property for $500,000. In the past 6 months, she spent $250,000 and has completely renovated the building. She now has tenants in each unit. When the time came to refinance her mortgage loan, Danielle took a trip to the bank. Much to her surprise, the bank valued the property at $725,000 on a loan-to-cost basis (acquisition cost plus renovation costs) and ignored its current appraised market value of $1 million.
Danielle thought she could get a better deal at the bank across the street. According to Danielle’s loan officer, the bank’s seasoning requirements prevent commercial borrowers from refinancing until they’ve owned their property for more than 2 years.
At Silver Hill, Danielle’s property would be valued at its fair market value, not on a loan-to-cost basis. And with no seasoning requirements, their program would be a perfect fit for her unique situation.
Carlos owns an apartment building downtown. The area recently experienced a revitalization with an influx of young people moving to the city. This helped him establish strong cash flow for the property. Carlos eventually decided to visit his bank and use his business’ success as leverage to obtain a more attractive rate on his commercial mortgage.
Carlos was more than happy to share rent roll documentation and other business financials, but when the bank asked for his tax returns dating back 2 years he was not able to show the current financial success of his building. He left the bank empty-handed and wondered if it was really necessary to disclose all that information for a small commercial loan.
Under Silver Hill’s Multifamily Streamline Program, Carlos would not be required to submit tax returns or a 4560T. His deal would be evaluated on the property’s stellar performance, not his personal financial records.