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Commercial Real Estate, Construction, & Residential Lot Rates
| Base Interest Rate | Rate Adjustment | Loan Term | Indicative Spread at Adjustment |
Indicative Start |
|---|---|---|---|---|
| 3 Year CMT | Every 3 Years | Fifteen Year Term | 2.750% | 6.250% |
| 5 Year CMT | Every 5 Years | Fifteen Year Term | 2.750% | 6.500% |
| 7 Year CMT | After Year 7 | Fourteen Year Term | 2.750% | 6.750% |
| 10 Year Fixed | Fixed Rate | Ten Year Term | Fixed Rate | 7.000% |
Maximum amortization is 25 years. Loan may be utilized in conjunction with a Small Business Administration 504 loan to increase allowable combined loan to value.
| Interest Rate Index | Rate Adjustment | Loan Term | Indicative Spread at Adjustment |
Indicative Start |
|---|---|---|---|---|
| 3 Year CMT | Every 3 Years | Fifteen Year Term | 2.500% | 6.000% |
| 5 Year CMT | Every 5 Years | Fifteen Year Term | 2.500% | 6.250% |
| 7 Year CMT | After Year 7 | Fourteen Year Term | 2.500% | 6.500% |
| 10 Year Fixed | Fixed Rate | Ten Year Term | Fixed Rate | 6.750% |
| 15 Year Fixed | Fixed Rate | Fifteen Year Term | Fixed Rate | 7.625% |
Maximum amortization is 30 years. Non-owner occupied properties only.
| Interest Rate Index | Rate Adjustment | Loan Term | Maximum LTV/ Maximum LTC |
Indicative Start |
|---|---|---|---|---|
| WSJ Prime + 1% – 2.5% | Monthly | One to Five Year Term | 75% | 8.750% – 10.250% |
| Base Interest Rate | Rate Adjustment | Loan Term | Indicative Spread at Adjustment |
Indicative Start |
|---|---|---|---|---|
| 3 Year CMT | Every 3 Years | Fifteen Year Term | 2.750% | 6.250% |
| 5 Year CMT | Every 5 Years | Fifteen Year Term | 2.750% | 6.500% |
| 7 Year CMT | After Year 7 | Fourteen Year Term | 2.750% | 6.750% |
| 10 Year Fixed | Fixed Rate | Ten Year Term | Fixed Rate | 7.000% |
Maximum amortization is 30 years.
| Loan Term | Rate Adjustment | Property Type | Maximum LTV / Maximum LTC |
Indicative Rate |
|---|---|---|---|---|
| 12 Months | Fixed | Owner Occupied Residential | 80% / 80% | 8.250% |
| 12 Months | Fixed | One-to-Four Family Investment | 75% / 75% | 8.625% |
| 12 Months | Fixed | Commercial | 75% / 75% | 8.625% |
Origination fees are typically 1.5% of the loan amount plus reasonable and customary closing costs.
| Maturity | Rate Adjustment | Loan Term | Maximum LTV / Maximum LTC |
Indicative Rate |
|---|---|---|---|---|
| 3 Years | Fixed | Fifteen Year Amortization | 70% | 9.500% |
| 5 Years | Fixed | Fifteen Year Amortization | 70% | 9.750% |
| 7 Years | Fixed | Seven Year Amortization | 70% | 10.000% |
Origination fees are typically 1.5% of the loan amount plus reasonable and customary closing costs.
Rates are set at time of commitment and may be adjusted based on risk factors. Origination fees are typically 1% of the loan amount plus reasonable and customary closing costs. The loan terms contained herein may not be all-inclusive and are subject to change until your loan is approved and accepted.
What You’ll Need To Apply
Personal Tax Information
Please include all pages and schedules of your Form 1040 tax return as well as any K-1s AND W-2s.
Please include 2017 tax returns if 2020 returns are not yet available.
Business Tax Information
1120 or 1120-S or 1065
Please include 2017 tax returns if 2020 returns are not yet available.
2020 Year-to-Date Financials
Please provide a year-to-date Profit and Loss Statement, Balance Sheet, as well as a Schedule of Real Estate.
Business Documentation
We will need the Articles of Organization, Tax ID number (IRS), and Operating Agreement for the LLC that will own the real estate. You will also need to complete Centennial Lending’s Certification Beneficial Ownership which you can download by clicking here.
Bank and Brokerage Statements
These statements are used to verify liquid assets. Screen shots of these statements are sufficient.
Environmental Questionnaire
This form is used during your walk through of the property. Please complete and sign the form, checking all of the appropriate boxes. Click here to download a copy of the Environmental Questionnaire.
Signed Loan Application
Copy of your Drivers License
Improvement Location Survey
Contract to Purchase
Insurance Agent Contact Information
Schedule of Leases or Rent Roll
Leases and Letters of Interest
Ready To Apply?
Click the appropriate link below to download the application.
Once downloaded, complete the editable PDF, save, and upload the completed document using the secure link below.
