The type of loans and general loan terms are listed below. Detailed terms and conditions for specific programs or property types are provided on a case by case basis.
First mortgages on qualified properties
Second mortgages on qualified properties
Wrap second mortgages on qualified properties
Contracts for Deed
Sale-leasebacks with or without purchase options
Debt purchases at a discount
Minimum loan size-$350,000
Maximum loan size-$5,000,000.
Alternative collateral will be considered, including third party guarantees, letters of credit, security and cash pledges, personal property, additional real estate, and other property capable of being secured.
Prepayment penalties-none
Assumption allowed subject to payment of a negotiated fee, and subject to lender approval.
Maximum loan to value-70% of appraised value
Rates-minimum of 11.5% for 1-18 month terms. Short term rates to be negotiated. Rates are variable, with a floor.
Closing time-Closings are expedited to the shortest time possible
Eligible locations-Minnesota, Wisconsin, Iowa. Loans in Colorado considered.
Commercial Mortgage Fund, LLC • 8300 Norman Center Drive, Suite 720 • Bloomington, MN 55437
The type of loans and general loan terms are listed below. Detailed terms and conditions for specific programs or property types are provided on a case by case basis.