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Compare Our Products...
Commercial Loan Program Comparisons
| |
ERM Commercial |
Traditional Bank |
Securitization
Competitor |
|
Minimum loan amount |
$250,000 |
$100,000 |
$100,000 |
|
Maximum loan amounts |
$50,000,000 30
Yr. |
Varies depending
on bank size |
$1,500,000 |
|
Interest Rates |
4.73% to 7.5% |
6.5% to 8% |
9% to 13% |
|
Term |
20, 25, 30 Years |
5, 7, 10 years |
20 or 30 years |
|
Lockout |
None |
None |
3 years |
|
Balloon Payments |
No |
Yes |
Yes |
|
Prepayment penalty |
Yes |
Yes |
Yes |
|
Construction |
Yes |
Yes |
No |
|
Credit Score
Requirements |
660 Minimum |
680 Minimum |
700 Minimum |
|
Appraisal |
Yes |
Yes |
Yes |
|
Maximum loan to
value |
80% |
75% |
75% |
|
CLTV |
90% |
90% with SBA |
Not Allowed |
|
Property types |
Most except raw
land |
Most general
purpose |
Tier I and Tier
II only |
|
Maximum YSP |
2% |
0% |
2% |
|
Fees |
As low as 0 points
$1,500
processing |
1 Point $1,500
processing |
0 Points $2,500
total fees Approx |
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