Commercial Loan Brokerage

Texas State Mortgage is a Texas-based national commercial mortgage broker, specializing in a personal involvement with each financing request. We can provide financing for loans beginning at $250,000 up to $10,000,000 for most property types. Borrowers can expect innovative solutions to their financing needs. Since 1991, we have provided funding for motels, single use buildings, shopping centers, office buildings, multi-family and investor single family properties. Our experience and lender sources allow us the flexibility to achieve a wide spectrum of loan products including cash out, acquisitions, interest only, hard money, and many more. Rates are very competitive but vary with the property type.

Current Loan Programs & Rates.

Short term Business Loans and Lines of Credit from $10K to $750K
Purchase, Refinance, Rehab, Construction, Mezzanine
SBA 7(a), SBA 504, Variable & Fixed Rates up to 100% LTV for Doctors
Recourse and Non-Recourse
Up to 30 year amortizations
Stated Programs to 75% LTV

Line of Credit
$100K to $500K

Rate: Prime + 1.00 to 1.50
Revolving Period: 60 Months
Convert terms: Fixed or Variable, Floor: 4%

Small Portfolio Loan Program
$100,000 to $750,000

Owner Occupied and Investor Properties (Min 80% Occupied)
75% LTV Purchase, Refinance, 2nd Mortgages and Line of Credit
5% Seller Carry Back Seconds Allowed to Max of 75% CLTV
Minimum Middle FICO 680+ 740+ Mid FICO Score qualifies for the below rate
Cost to do the loan: 2.50% that covers appraisal and title work on refi’s paid at closing
Prepay Penalty: 3,3,3

Eligible Properties

Multi-Family (5+ units), Mixed-Use, Office Buildings, Retail, Warehouse, Light Industrial (no heavy Industrial), Office Condominium, Auto repair, Auto Sales, Convenience Store, Convalescent Home, Assisted Living Facility, Health Club or Gym, Gas Stations <10 years old, Self-Storage, Daycare or Preschool, Nursery (horticulture), Theatre, Cold Storage Warehouse, Veterinary Hospital, Restaurant.

Ineligible Properties

1-4 unit dwelling, non-profit owned, dry cleaning plants, time-share properties, mobile home/RV parks, heavy industrial, agricultural/forestry/orchards/farms, auto wrecking/auto salvage yards, hospitality (hotels, motels, B&B), vacant buildings (must be 80% occupied), gas stations >10 years old, vacant/undeveloped land, new construction, properties listed for sale, outside of the U.S., or on more than 40 acres, and chemical plants.

Preliminary Review/Submission Check List

Please don’t put all docs into one attachment, break them out. Several Emails are OK.

  1. Brief loan request write-up with dollar request, LTV, property type, why needed, mid credit score, cash-out purpose or any issues.
  2. Borrower can pull own 3 credit score report from or any other internet service that is no older than 60 days.
  3. Personal Financial Statement on all Borrower(s).
  4. Borrower’s complete Federal Tax Returns (2012 & 2013) both business and personal with all Schedules including K-1s.
  5. For Investor Purchase the last two years (2012 & 2013) schedules of property or historical operating statements.
  6. If Owner/User: Interim Business Financials (Income Statement & Balance Sheet) no older than 90 days.
  7. If Investor: Subject Property Operating Statement YTD 2014.
  8. If Investor: Current Rent Roll. Lease copies can come later.
  9. Loan Registration.
  10. Executive Summary.
  11. Photos of the Property.