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COMMERCIAL
REAL ESTATE FINANCING

PURCHASE AND REFINANCE

CMBS CONDUIT LOANS

CMBS CONDUIT LOANS AGENCY MULTI FAMILY SBA 7A & SBA 504 LOANS BEIDGE LOANS ABOUT US PROPERTYS FINANCED
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ADVANTAGES OF CMBS CONDUIT LOANS

Our CMBS Conduit loans start at $2,000,000, we have never hit an upper limit. For a borrower the parameters of these loans are advantageous. The interest rates are fixed for the life of the loan, usually 10 years. Interest rates are usually well below bank rates. Amortization is 25 or 30 years. Interest only for a year or more is often available.

The loans are non-recourse. That means that the property and not a person is responsible for the loan. There is no personal guarantee. This is true asset based lending. The loan can not be per-payed before maturity. The loan may be assigned in the event that the property is sold. The loan can be defeased.

We often recommend these loans for shopping centers, office buildings, hotels and industrial properties.

These loans have a lower interest rate and longer maturity than loans that are offrted by a bank or an insurance company. Non recourse is an important feature for many borrowers. You can use this type of loan for purchase or for a refinance. Cash out is not a problem. These loans are intended for stabelized properties

CMBS CONDUIT LOANS

Our CMBS Conduit loans are different from what you may have experienced in the past. The funding comes from the bond market not from a balance sheet lender like a bank.

  Doing these loans is different from doing a bank type, balance sheet lender type of loan. There are many more parties involved. First Charter Financial acts as the Originator of the loan. We do the initial underwriting, determine the cash flow of the property, calculate the DSC, Debt Yield and LTV. We discuss the loan with the borrower. we discus the loan with several Conduits. The Originator negotiates with several Conduits. Each Conduit will have different pricing. The borrower needs the Originator for this service. We submit the loan to several Conduits. After negotiations we make a deal for the loan with the one Conduit that gave us the best loan for the borrower.  

The Conduit does the final underwriting, documents the file, arranges for the legal work and the third party reports. The conduit divides the loan into an A part and a B part. He arranges a direct sale of the B part. He provides temporary money to fund and close the loan.

The Conduit then gives the A part loan to a Syndication. The Syndication groups together a large number of loans, appoints a Trustee and then sells a Collateralize Mortgage Backed Security into the bond market. The sale proceeds pays back the Conduit for the cost of funding the loan. The sale also gives the Conduit a profit known as the yield spread premium. The syndicator also makes a yield spread premium.

The borrower pays the closing costs of the loan, approximately 1/4 to 1/2 point. The borrower pays 1 point to the Originator. These payments come out of the loan closing escrow. There are no other loan points. The borrower may use a loan broker who may be paid out of the loan closing escrow. The borrower is required to advance a good faith deposit to the Conduit, usually $35 to $50 thousand This deposit is returned at loan funding.
Loans are serviced for the most part by Wells Fargo Loan Servicing or by Midland Loan Servicing. Most loans have a Sub-servicer who maintains continuity with the borrower. First Charter Financial frequently acts as a Sub-servicer. 

FIRST CHARTER FINANCIAL CORPORATION

We are a full service Commercial Mortgage Company. We are in the commercial financing business and we do not sell leads to other companies. Financing Commercial Real Estate is our only business. We close loans.
Lenders that you find on the Internet are all different. Many will try to fit you into the loan products that they sell. That is why you need to consult with an independent mortgage company. We know what is available in the market. We can discuss your needs and goals and suggest what would be the best loan for you. Then we will place that loan for you. We will stay with you through the funding. We always represent the borrower, not the lender. 

THE BEST LOAN TO FIT YOUR NEEDS

The difference of using First Charter Financial as your originator as opposed to using a broker is that we negoait the best price for the borrower. An ordinary broker will just send the loan to one conduit. He will not generaly get the best financing for the borrower

We have maintained relationships in the financial markets for many years and we are well-known. First Charter Financial Corporation is licensed and bonded. We do not ask for any deposit or money up front. Our commissions are earned at loan funding. If we agree to represent you in obtaining financing we require that you sign an Origination letter up front. 

WE FINANCE ALL KINDS OF COMMERCIAL REAL ESTATE
WE DO MANY DIFFERENT KINDS OF LOANS TO FIT YOUR NEEDS
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CMBS CONDUIT LOANS

CMBS loans are loans for stabelized real estate. They are low interest rate 10 year fixed loans, Funds come from the bond market. We do tham for hotels, retail, office, industrial.

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AGENCY MULTI FAMILY

Agency loans are from Fannie Mae, Freddie Mac and HUD. Government agencies. These are low rate long term fixed loans. They are the best loans for multi-family properties.

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SBA 7A SBA 504

We do SBA 7a loans up to $5 million. SBA 504 to $13 million. These are federal guranteed loans. Their down payment is lower but their interest rates are higher than conventional loans.

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BRIDGE LOANS

This is a polite term for private and hard money loans. In general the interest rate is higher and the maturity is shorter. However in some cases this is the only type of loan that is available.

WE DO ALL KINDS OF COMMERCIAL REAL ESTATE  LOANS

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Do you want to start a new loan? Tell us what you need in a message on the form. 







info@fcfcorporation.com 
480 970 0990
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FINANCING FOR

Hotels
Shopping Centers
Multi Family
Office / Industrial
About FCF

First Charter Financial Corporation
8204 East Del Caverna Drive
Scottsdale AZ. 85258
AZ CMB 0922527
NMLS ID 181100

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