COMMERCIAL REAL ESTATE LOANS

In addition to single family mortgages, Buckeye Mortgage Company provides financing for a variety of commercial real estate, including, but not limited to the following:

• Special Purpose/Unique Properties (max LTV 60%)

1. Laundromats
2. Funeral Homes
3. Camp Grounds
4. Outdoor Entertainment Centers
5. Marinas

• Automotive Services (max LTV 65%)

1. Auto Repair Shops
2. Car Washes
3. Service Stations
4. Convenient Stores

• Hotels/Motels (max LTV 60%)

• Mobile Home Parks (max LTV 70%)

• Restaurants (max LTV 60%)

• Mixed Use/Apartment Buildings (max LTV 75%)

• Warehouse/Self-Storage (max LTV 70%)

• Bed & Breakfast (max LTV 70%)

• Retail Buildings (max LTV 70%)

• Industrial Properties (max LTV 65%)

Commercial real estate loans, generally between $150,000 and $800,000, are available on a stated income – stated asset basis. That is, the loan is based almost entirely on the appraised value of the property and the credit worthiness of the borrower(s). Credit scores range from A+ (700+) to C (575+). No income verification(s) or tax returns are required. Loans are amortized over 15 years and are available as either fixed or adjustable rate products.

We also provide commercial loans amortizing over 30 years on an adjustable rate basis, with the initial fixed period ranging from 3,5,7 or 10 years. These loans may be up to 80% LTV with full documentation, or 60% to 75% with stated income. Borrowings may range from $200,000 to $2,000,000 and debt service coverage from 1.20 to 1.30 depending on the type of property. After the fixed period, these loans adjust at 5% over 6 months. LIBOR with caps of 2% per adjustment and 6% lifetime. Borrower(s) debt ratio may be up to 55%; tax and insurance must be escrowed. Minimum credit score for full doc loans is 600; for stated income loans 660. Environmental and hazard/general liability insurance is required on all loans at closing. Loans are made on a full recourse basis and pre payment penalties apply.

Please contact Robert C. Mead at rcmead@buckeyemortgageco.com for a list of eligible properties and additional details.

FOR MORE INFORMATION ON COMMERCIAL REAL ESTATE LOANS, CONTACT AN EXPERIENCED MORTGAGE COMPANY TODAY @ (866) 700-4290. GET ADVICE ABOUT LOANS FOR PURCHASING COMMERCIAL PROPERTY IN WEST VIRGINIA

Serving West Virginia & Ohio
Wheeling, Fairmont, Parkersburg, Huntington, Charleston, Toledo, Columbus

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