HOUSTON, TX. (PRWEB) September 21, 2013
1. COMMERCIAL LOAN :
Commercial Plans of Texas is excited to announce a commercial loan up to 100% Loan To Cost in some cases. If an investor is buying an apartment complex, Office buildings or shopping center and other income producing properties, the sponsor can borrow up to 100% of the acquisition price plus rehab or redevelopment cost which has never been done before. This loan can even give you funds for the repair of the commercial building on the top of the acquisition loan.This bridge loan is designed for investors to buy and pre-develop or improve the property to stabilize it which otherwise would not be able to find from conventional Banks. This loan is good for investors or developers. This specific bridge loan is ready for up to $35,000,000. The over all loan parameters can stretch from $500K to $500M for all kinds of commercial Real Estate, Business and Equipment / Machine loans.
2. RESIDENTIAL LOANS :
Until recent FHA loan has been the only solution for the first time home buyers. With its lowest down payment and rate, it has been the best. Recently, however, the demand for houses changed the equation. Fannie Mae and Sallie Mae has brought back the Conventional 3% down mortgage loan. This non FHA loan is by far better than FHA Loan in terms of the following. FHA loan requires 3.5% down where as the new loan does require only 3% down. FHA loan has a 1.75% up front PMI and 1.35% monthly vs. the new loan with only 1% monthly PMI factor. Finally, FHA loan is limited to $271,750 area in Texas vs. $417,000 for the conventional loan. If you are new home buyer and wants to put lowest down but wants to buy with lower PMI ( Mortgage Insurance ) payment, this is for you. Last but not least, the house seller can also help buyer with 3% of the price towards the closing cost which will almost pay the entire closing cost.