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Rehab-Spec and Small Commercial Hard Money Loans |
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►FAQ
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Small Commercial Hard Money Loans & Small Commercial Hard Money LoansMayo Bay can provide short term (typically six months) hard money financing for most commercial projects. The loan limits are $100,000 to $2,500,000. If you have a project that is in need of short term funding and cannot get financing through your regular channels please let us take a look at the deal. If the deal makes sense we can usually close in about 14 business days after we have all the documents. We can lend in most states. Small Commercial Conventional LoansMayo Bay can also provide funding for a conventional commercial project. Here we can provide: Stated -stated underwriting for certain purchases and refinances up to $1,000,000 at up to an 85% LTV. These limits are dependent upon factors such as: property type, occupancy, and credit score. For higher loan amounts we offer: Owner user - full doc programs up to $5,000,000 at up to a 90% LTV Owner user – state income up to $2,000,000 at up to 65% LTV Hotel Programs up to $5,000,00 at up to 70% LTV and up to 85% CLTV with a SBA 504 purchase money loan Investor – full doc up to $5,000,000 at up to 80% for a purchase Investor – low doc up to $3,000,00 at up to 80% LTV
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