Lending Area, Property Types & Basic Guidelines

Lending Area
TEXAS ONLY
Property Types
Commercial and Investment Only (Including raw land)

*Borrowers must have separate established Texas Homestead exemption. All loans are for business purpose only. GCMAC does NOT make 1-4 unit owner occupied loans.

 

Transaction Types
Purchase or Refinance (1st lien position ONLY).
Terms
Short term interest only or longer term balloons (see rate sheet).
Credit Score
No minimum credit score requirement.
Documentation
Stated Income / Stated Assets.
Loan Amount
Minimum $75,000 ($50,000 in San Antonio).
Maximum $2,000,000 (possibly higher on exception basis with lower LTV).
Loan to Value
Up to 65% LTV based on LESSER of purchase price or quick sale value. **Seller held 2nds/Cross Collateralization of Additional Realestate Allowed.