I have a portfolio of 10 commercial properties, all acquired by other finance companies. I would highly recommend CREFCOA and Doug to anyone seeking a commercial loan. I have recommended my friends and associates to CREFCOA and they have all been treated with the same utmost level of professionalism. I find him to be honest, forthcoming, to the point, knowledgeable, with the willingness to spend time before, during and after a loan is placed. Even in that case, he managed to come through with a better package, on the second go around, which closed without issues. We did not actually meet in person until almost 10 years after we started doing business together, as we live on opposite coasts.ĭoug has always produced what he has promised, except one loan that fell through due to reasons that no one could predict. Since then, the majority of our commercial loans have been placed through Doug. The entire loan process was handled professionally, with extreme attention to detail, to ensure that there would be no surprises that could potentially derail the loan approval and funding process. The more time we spent, and Doug’s willingness to invest that initial time, without any guarantee of new business, and his grasp of the commercial lending environments and contacts, made us comfortable to proceed. We spent quite a bit of time on the phone and by e-mail, trying to read between the lines and in search of indicators that would give us pause, as far as proceeding with a commercial loan we were seeking at the time. As all things on the internet, we proceeded with caution and reservation. We came across CREFCOA while searching on the internet for a commercial lender. If we can transact in those toughest of times, we can do anything! I have enjoyed all the wise and prescient conversations we have had along the way, especially during the mortgage meltdown in 2008 and the commodity crash of 2014. I value you as my friend, and as a member of my team as I continue to build my business. Thank you, Doug, for all you have done for me and my family. If there is one word I would use to describe Doug, it would be “Integrity,” a much overused word in the business, but deserving to describe Doug. If it wasn’t for Doug, I probably would not have gotten through them and I certainly would not be where I am right now. Every one of my transactions had issues to be dealt with. My faith was renewed!įifteen years and 7 transactions later, I now consider Doug one of my few friends I can actually count on. He took the time to get to know me, the property and the area and got the loan approved quickly. I was frustrated and “Trust” was not in my vocabulary when it came to the commercial mortgage space at that time. Being a non-local owner proved to be a challenge for most lenders. When I first talked to Doug (over 15 years ago!) I had almost given up on the prospect of finding someone who could help me with a loan to buy my first multifamily property. Learn more about the Freddie Mac Targeted Affordable Express Program Efficient underwriting with reduced document requirements.5, 7, 10 and 15 year fixed rate options available. Interest rate spread locked at application.The Freddie Mac Targeted Affordable Express (TAH Express) Program provides highly competitive terms for multifamily properties with an affordability component (HAP contract, LURA, LIHTC, Tax Abatements) that aren't eligible for financing through the Freddie Mac Small Balance Apartment Loan (SBL) Program.įreddie Mac TAH Express Program Highlights Learn more about Freddie Mac SBL Apartment Loans Cash out to 80% in Top and Standard Markets.No underwriting floor rate maximizes proceeds.Converts to ARM at the end of the fixed term.5, 7 and 10 year fixed rate options available.Yield maintenance or declining prepay options.Partial and full term interest only available.The Small Loan Program helps to maximize your property's cash flow with low rates, interest only payment options, no replacement reserves and up to 30-year amortization. The Freddie Mac Small Apartment Loan (SBL) program fills a gap in the small multifamily loan space ($1MM-$7.5MM) for borrowers seeking competitively priced, non-recourse debt without yield maintenance, or a balloon payment at the end of the fixed term.
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