Real-Estate Loans
line of credit available for you today
businesses that have turned profits into $1 million+
minutes to qualify
What are commercial real estate loans
Are you in need of a simple line of credit to boost your business? Not looking to refinance for the next thirty years, just need something short and simple? SpotOn Financial can provide a business loan using the equity in your commercial property. No need to refinance the entire loan, we use a simple formula to offer working capital in a second position behind your existing loan. So you don’t need to give up your low rate, or extended terms to get the capital you need today to build your business tomorrow. You are not limited to use of the funds and we can have you the capital you need in as little as 5 business days.
Commercial Investment Loans
Commercial investment property loans are designed for properties with five units or more, as well as other non-residential investment properties. These properties can be owner-occupied or non owner occupied. An owner occupied property means you will use the property as a primary office or location for your business. You can classify a commercial property for investment purpose and owner occupied when the property has a dual purpose, an example would be a mixed use property where you have a restaurant on the first floor, and apartments above. Owner would need to occupy the restaurant, and rent the apartments above.
These loans can also be used to buy or refinance anything from a shopping mall, apartment building (with 5 or more units,) an office complex, and any other kind of commercial investment. You will likely find higher rates than you’d get with a residential loan, as well as shorter lengths of time before the loan is due, with balloon payments often due after 5, 7, or 10 years.
Residential Investor Loans
Our simple process provides a business access to immediate cash at competitive rates for a terms up to 60 months. We review all types of commercial properties both non owner occupied and owner use! Not available in all states.
Minimum FICO
Early Payoff Discounts
No Set Terms
Investor Properties Qualify
Approval Not Solely Credit Based
Most Real Estate Accepted
No Restrictions On Use Of Funds
Long-Term Rental Financing
Obtain long-term rental financing with 30-year terms and rates starting at 5.99%
Loan Criteria
Collateral:
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes;
Planned Unit Development (PUD)
Rates:
Starting at 5.99%
Term:
30 Years
Loan Amount:
$75K-$1M
LTV:
Purchase: The Lesser of up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance: Up to 65% of the As-Is Value
Cashout: Up to 70% of the As-Is Value
Property Value:
“As-Is” Appraised Value Must Be Greater Than $100K
Credit Score:
660 Minimum
Property Debt-To-Income Ratio (PDTI):
For Property Values between $100k & $150k: Must be less than or equal to 75% of interest & scheduled principal
For Property Values greater than $150k: Must be less than or equal to 85% of interest & scheduled principal
Short-Term Bridge Financing for Rental Properties
Obtain bridge financing for rental properties with terms up to 36 months and rates starting at 8.49%
Loan Criteria
Collateral:
Non-owner Occupied 1-4 Family & Multi-Family Real Estate;
Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
Rates:
Starting at 8.49%
Term:
24 months (12-month extension available*)
Loan Amount:
$50K-$2.5M**
LTV:
Purchase: The Lesser of up to 75% of the As-Is Value or Up to 75% Loan-to-Cost
Refinance: Up to 75% of the As-Is Value
Cashout: Up to 70% of the As-Is Value
Property Value:
“As-Is” Appraised Value Must Be Greater Than $75K
Credit Score:
660 Minimum
Rent Coverage Ratio (Monthly Rent/Monthly Interest):
1.25
*Extension fee applies
**$1M max per unit
Fix & Flip Financing
Obtain financing for up to 85% of the purchase price + up to 100% of the renovation costs with rates starting as low as 7.99%
Loan Criteria
Collateral:
Non-owner Occupied 1-4 Family & Multi-Family Real Estate;
Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
Rates:
Starting at 7.99%
Interest Only Charged on Outstanding Balance
Term:
30 Years
Loan Amount:
$75k-$2.5M
LTV:
Up to 85% of the Purchase Price + 100% of the Renovation Costs
(Not to Exceed 75% of the After Repair Value)
Property Value:
“As-Is” Appraised Value Must Be Greater Than $100K
Credit Score:
600 Minimum
Experience:
Prior Real Estate Investing Experience Preferred
Long-Term Rental Financing
Obtain long-term rental financing with 30-year terms and rates starting at 5.99%
Loan Criteria
Collateral:
Non-Owner Occupied 1-4 Family Real Estate; Condos; Townhomes;
Planned Unit Development (PUD)
Rates:
Starting at 5.99%
Term:
30 Years
Loan Amount:
$75K-$1M
LTV:
Purchase: The Lesser of up to 80% of the As-Is Value or Up to 80% Loan-to-Cost
Refinance: Up to 65% of the As-Is Value
Cashout: Up to 70% of the As-Is Value
Property Value:
“As-Is” Appraised Value Must Be Greater Than $100K
Credit Score:
660 Minimum
Property Debt-To-Income Ratio (PDTI):
For Property Values between $100k & $150k: Must be less than or equal to 75% of interest & scheduled principal
For Property Values greater than $150k: Must be less than or equal to 85% of interest & scheduled principal
Short-Term Bridge Financing for Rental Properties
Obtain bridge financing for rental properties with terms up to 36 months and rates starting at 8.49%
Loan Criteria
Collateral:
Non-owner Occupied 1-4 Family & Multi-Family Real Estate;
Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
Rates:
Starting at 8.49%
Term:
24 months (12-month extension available*)
Loan Amount:
$50K-$2.5M**
LTV:
Purchase: The Lesser of up to 75% of the As-Is Value or Up to 75% Loan-to-Cost
Refinance: Up to 75% of the As-Is Value
Cashout: Up to 70% of the As-Is Value
Property Value:
“As-Is” Appraised Value Must Be Greater Than $75K
Credit Score:
660 Minimum
Rent Coverage Ratio (Monthly Rent/Monthly Interest):
1.25
*Extension fee applies
**$1M max per unit
Fix & Flip Financing
Obtain financing for up to 85% of the purchase price + up to 100% of the renovation costs with rates starting as low as 7.99%
Loan Criteria
Collateral:
Non-owner Occupied 1-4 Family & Multi-Family Real Estate;
Condos; Townhomes; 5+ Unit Apartments; Mixed-Use Properties
Rates:
Starting at 7.99%
Interest Only Charged on Outstanding Balance
Term:
30 Years
Loan Amount:
$75k-$2.5M
LTV:
Up to 85% of the Purchase Price + 100% of the Renovation Costs
(Not to Exceed 75% of the After Repair Value)
Property Value:
“As-Is” Appraised Value Must Be Greater Than $100K
Credit Score:
600 Minimum
Experience:
Prior Real Estate Investing Experience Preferred