COMMERCIAL INVESTMENT
AND SMALL BUSINESS
REAL ESTATE
LOAN RATES AND INDEXES

Below you will find informtion on our current loan programs and common loan indexes.  For questions regarding a specific loan scenario, please contact our office and speak to a Consultant, or go to our Commercial Loan Quotes page.

Documents to help you with our changes:

Approval probability sheet.pdf

Underwriting Standards by Property Type.pdf

Rates and programs are subject to change without notice. Information as of:
Wednesday, March 10, 2010


Excelsion Mortgage
Small Business & Commercial Loan Programs

Rates Quoted Below Include A 1% Origination Fee.

General Property Types

Loan Program

Owner-User

Investor

Multi-Purpose

Special Purpose

Multi-Purpose

Special Purpose

Quarterly WSJ Prime

4.95%

4.95%

4.95%

5.13%

90 Day LIBOR

4.95%

4.95%

4.95%

4.95%

1 Year LIBOR

4.95%

4.98%

4.98%

5.23%

3 Year Resettable SWAP

5.95%

5.95%

5.95%

6.06%

5 Year Resettable SWAP

6.24%

6.99%

6.74%

6.99%

Start Ups, Add to Rate:

0.25%

0.25%

0.25%

0.25%

Refinances:

0.25%

N/A

N/A

N/A

Amortization:

25/25

25/25

20/20

20/20

Notes:

Rates are for bank portion up to 65% LTV; SBA 2nd rate will be less & 20/20 amort.  65% max LTV multi-purpose investor, special purpose will be less.Some programs subject to an interest rate floor.  DSCR:  1.25-Owner-User; 1.4- Investor.  Call for details.

Construction to Perm

7.00%

7.00%

N/A

N/A

This program is available on Owner-User Properties ONLY.  Permanent Loan:  Choose "general property type" program above under "owner-user," borrower recieves market rate at conversion.  SBA 504 programs ONLY.  Rates quoted are at a 1 point cost.  Floor rate of 7.00%

NOTES:

Borrower pays for 3rd party reports, including credit, appraisal, and environmental (Phase 1 or Scan). A Good Faith Deposit will be required with a signed Letter of Interest. In the event the loan is not approved, any remaining funds from the GFD will be returned to the borrower. If the loan funds, any excess is applied to origination and processing fees.

Fees: Processing: Loans < $1MM - $990, $1MM-$3MM $1,480, >$3MM $1,980, >$5MM, call for quote, payable at funding.

Pre-payment Penalties: Variable Loans come with a standard 5 year 5% flat penalty. All other loans come with a standard 10 year declining pre-payment penalty: 10%, ... 1%. Other penalty options available, call for pricing adjustments. 20% annual pre-payment allowed without penalty.

Rates, loan programs, and underwriting criteria are subject to change without notice. This is not an offer to lend or to extend credit.

**Risk Based Pricing: All loans are subject to adjustment for age and property condition, unstable historical operations, multi-layered borrowing structures, credit scores, subsidized housing, high percentage of singles and other exceptions to the underwriting guidelines.

Start Ups: Add a minimum of .25% to rates quoted above.

Rates and Programs subject to change without notice.

Commercial Bridge Loans

Rates:

10% to 14%

Points:

2 to 4

Term:

12 to 60 months, Interest Only

Loan Amounts:

$1,000,000 to $50,000,000. Larger loans on a case by case basis.

Notes:

Properties must be commercial, have cash flow, and a solid exit plan. Funds may be used for interest reserves, tenant improvements, leasing up, acquisition, and minor construction completion. Most property types considered. Please submit an Executive Summary with your request.

General Program Guidelines

PROGRAM TYPE

MULTI-PURPOSE

SPECIAL PURPOSE

HOSPITALITY

ENHANCED MULTIFAMILY

LOAN LIMITS

$500K to $50MM Investor; SBA 504 - $7MM

$500,000 to $50,000,000

$1MM to $50MM Investor

$1MM to $50MM

PROPERTY TYPES

Office
Retail
Mixed Use
Industrial Office
Warehouse
Mixed Retail w/Office
Light Manufacturing & Industrial
Medical Office
Dental Office

New Auto Dealers
Light Automotive
Auto Tire & Brake Centers
Assisted Living Grocery Stores
Daycare Centers
Car Washes
Funeral Homes

Strong Franchise

Interior Corridor

< 20 years old

< 100 units

5+ units

Mid-rise

>25,000 population

MAX LTV/CLTV

60%/90%

60%/90%

60%/90%

75%/75%

LOAN TERMS

Owner User:  25 Year Fully Amortizing, Minimum 1.25 to 1.3 DCR.  Investor:  20 year fully amortizing, 1.4 DCR.

30 Yr. Amortization; DCR 1.25 - 1.55

MINIMUM CREDIT SCORE

650

650

650

680

MINIMUM EQUITY

10% to 20%

10% to 25%

20%

15%

COLLATERAL

1st TD-Real Property

1st TD-Real Property

1st TD-Real Property, UCC-1 on all FF & E

1st TD-Real Property

LOAN PROGRAMS

SBA 504
USDA B&I
1 Year Variable
3 Yr. Fixed
5 Yr. Fixed

SBA 504
USDA B&I
1 Year Variable
3 Yr. Fixed
5 Yr. Fixed
SBA 504
USDA B&I
1 Year Variable
3 Yr. Fixed
5 Yr. Fixed

30/5
30/7
30/10
30/15
30/30

INDEXES

Rates are tied to 90 Day & 1 Yr. LIBOR, 3 or 5 Yr. LIBOR Swap, or WSJ Prime

AVAILABLE PROGRAMS(Remaining Term after Initial Fixed Period)

At the end of the initial fixed term, the loan will automatically convert to the Borrower’s choice of:

A)  Original Swap Index + margin, adjusting every three or five years

OR

B)  WSJ Prime Rate + margin, adjusting quarterly

Borrower must make the selection above before closing the loan.

RATE LOCKS

30 day rate locks are available at no cost.

60 day rate locks are available with a deposit of $2,500 or 0.50% of the permanent loan amount, whichever is greater.  NOTE:  The 60 day rate lock deposit is refunded at the time of closing if the interest rate at the time the loan is closed is the same as the rate stated in the Commitment Letter.   If the interest rate declines and the Borrower chooses to lower the rate rather than take the rate stated in the Commitment Letter, the deposit is retained by the lender.

The Rate is locked as of the date of the Commitment Letter.

Assumption: Subject to review and 1% fee.
Escrows: Taxes and Insurance required; Deferred Maintenance / Cap. Ex. as needed.
Loan Fee: Loans quoted at PAR.
Application Fee: Based upon estimated processing costs and required 3rd Part reports.
Funding: 45-60 days after receipt of due diligence items and an executed Application.


Index Rates

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Excelsion Mortgage is a direct lender offering commercial loans for real estate investors and small business owners (SBA 504, including construction to permanent) and other commercial investment resources.  Excelsion Mortgage is a d.b.a for C. S. Higdon, Inc. and operates under California Department of Real Estate broker's license number 01425676.  Excelsion Mortgage is an Equal Opportunity Lender.  Privacy Policy:  Excelsion Mortgage will never, ever sell, rent, trade, exchange, or barter any personal information of its clients at any time. 


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