Make sure that you sign a KIT broker agreement and contact your local KIT branch and/or Account Executive.
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Application, Personal Financial Statement, Credit Report, Income and Expense statement, Rent Roll, Leases, Digital Photos, Purchase Contract and Tax Returns if applicable.
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These items will help determine if the Net Operating Income generated by the property will support the requested loan amount and the required debt service coverage ratio.
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Our loan analyst will evaluate the income and expenses. They will estimate the maximum loan amount and terms of the transaction. The information will be communicated back to the broker in the form of a Conditional Loan Approval
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KIT Professionals evaluates property on the Income Approach. Net Operating Income (Gross Income less vacancy and expenses) is used to determine how much debt the property can support. Maximum Loan To Value is 90%.
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• Multi-family
• Mixed-use
• Self-Storage
• Retail
• Automotive
• Hotel
• Light Industrial
• Office Buildings
• Bed and Breakfast
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Full Documentation loans from $500,000 to $6,000,000 and Stated Documentation loans from $100,000 to $1,000,000 5-year to 30-year fixed and variable terms fully amortized,
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A dedicated Account Executive will handle your entire commercial loan pipeline.
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A rate can be locked for 30 days after Conditional Letter of Approval has been issued.
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680 fico/middle minimum for stated loans
640 fico/middle minimum for full doc loans
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