Commercial

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 www.creditscore.com 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.