Location:
Boston
Date Listed: Apr-20-08
Until now, most small business and commercial property owners have assumed that a community bank is the only place to go when their business needs cash. At, GTM Mortgage, Inc we understand small business needs and that's why we created a faster, more flexible loan process. Discover how we can give you the edge in small business real estate lending. · - Loans are available on a range of property types including office, retail, industrial, warehouse, and mixed-use buildings
- Loan size: $100,000 up to $5 million
- Credit: 600+ credit scores for primary borrower or primary guarantor
- High LTVs for eligible property types up to 80% LTV
- Alt-A Stated Income programs
- Loan purpose: Purchase, rate/term refinance, or cash-out refinance
- Loan type: 30-year fixed, 5-year fixed, then adjustable and variable rates adjusted quarterly
- Terms: All loans are 30-year fully amortizing with no balloons
ELIGIBLE PROPERTIES - Retail/Office Buildings - Designed for retail or office sales and display, this category includes stand-alone buildings such as offices, supermarkets, convenience stores, drug stores, department stores, bakeries, and beauty shops – as well as strip centers, and neighborhood and community shopping centers. Also includes medical/ dental offices and office condos.
- Warehouses/Light Industrial Properties - Single and multi-tenant facilities that are used for warehousing, light manufacturing, distribution, research and development. Includes industrial/ warehouse condos.
- Automotive Services - Includes everything from auto repair facilities to retail auto shops and part supply stores, but no fuel tanks on property.
- Mixed-Use Buildings - These properties integrate residential spaces with more than 50% commercial use, such as retail or office space. Often these properties have a ground floor retail store or office with apartment(s) above, all in the same building.
- Restaurants - We offer competitively priced financing for a wide range of properties, including owner-occupied, non-franchise and full-serve restaurants in neighborhood settings or urban. Underwriting criteria is more stringent on this property type.
- Providing one of the quickest and simplest loan application processes in the industry.
- Not over-documenting or hiding loan conditions within documents.
- Using our network of vendors to quickly satisfy the appraisal and environmental loan contingencies.
- Offering our customers an experienced, professional and ethical approach to deliver timely transaction closings without surprises.
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