Since 1991, APEX Mortgage Corp. has been financing small commercial mortgage loans for non-bankable borrowers. This year, APEX is pleased to bring you a softer approach to commercial hard money loans. You’ve trusted APEX for more than 20 years to provide commercial mortgages for your non-bankable borrowers, and now we can help you obtain financing for clients with hard money needs. APEX’s hard money program will feature the same common-sense approach to lending as our standard programs, as well as the speed and attention to detail you trust. Here are just some of the advantages of bringing your commercial hard money customers to APEX:
· You are dealing with a lender you know: APEX is already your trusted funding source for your non-bankable clients. Now we can help you obtain small commercial mortgages for your hard money clients as well.
· No upfront fees: As always, APEX charges no fees before closing a deal. The only cost to your borrower before closing will be a sales-approach appraisal.
· Sensible underwriting: APEX underwriters will take the same common-sense approach to funding hard money deals as they do for our standard deals. And unlike many commercial hard money lenders, they’ll listen to your borrowers’ stories.
· Longer, interest-only options: APEX’s terms for commercial hard money loans will run 1-5 years, interest only.
· Competitive rates and reasonable closing costs: Our commercial hard money rates will range from 12-15 %, and APEX will charge only 2-5 points to close the loan.
· No prepayment penalties: Because of the short-term nature of these hard money loans, APEX will not charge a penalty if your borrowers elect to pay off the loan early.
· Quick turnaround time: We’ll be able to approve the deal the same day, and closings are fast.
Our commercial hard money loans will range from $50,000-$350,000. We will consider loans for borrowers with a FICO credit score of 400 or higher on a case by case basis. These loans will be available in the 42 states in which APEX currently lends.
APEX has been closing nonconforming commercial mortgages for decades, and we’re excited to launch this softer hard money program that will allow us to offer you more services and strengthen our relationship. For more information on APEX’s new commercial hard money program, call 877-958-6035.