Philadelphia, PA (PRWEB) June 5, 2008
Commercial Capital Funding, closes $935,000 commercial mortgage purchase. Property was flagged as a potentially environmentally unsafe property, however after reviewing an existing Phase 1 environmental report, Commercial Capital Funding was able to insure the environmental risk and close the loan.
The multi-unit office building was purchased with a 20% down payment, allowing for a high-leverage purchase that yielded a better ROI than other lenders were able to provide. The debt service coverage ratio was 0.9 and the rate was 10.5%.
The purchaser praised Commercial Capital Funding for being able to review the environmental report and appraisal quickly so the transaction would not be lost due to the purchase contract expiring. The purchasers also noted that no other lender was able to offer them a high LTV with a low DSCR.
Andrew Martinez VP of sales can be reached at Commercial Capital Funding at 866-790-6925. Commercial Capital Funding located in Sacramento, CA specializes in small balance commercial loans between $100,000-$5,000,000+. With a variety of programs available, Commercial Capital Funding focuses on educating residential brokers and assisting them in closing commercial loans.
For more information, please visit http://www.ccflender.com
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