Loan Terms & Conditions
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Lending Programs:
All types of loans.
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Loan Size:
$500k – $20M
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Interest Rate:
8%
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Term:
Short & Long-Term program tailored to fit different loan scenario (6 months – 30 years)
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Repayment Type:
Principal & Interest. Interest only
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Loan-to-Value/Loan-to-Cost:
100% of Stabilized Value
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100% of Stabilized Value
100% of Stabilized Value
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Origination/Exit Fee:
1%
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Security:
First Mortgage Lien or Deed of Trust.
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Recourse:
Non-Recourse.
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Collateral:
Collateral and Non-Collateral. All Commercial RE Property Types, including Specialty Uses and Land.
Checklist
Loan approval is subject to verification of all information you provide and satisfaction of various conditions including, but not limited to the following:
- Scanned copy of any Government Issued Identification (front & back).
- Scanned copy of a recent utility bill carrying your residential address.
- Fully executed purchase agreement (if applicable).
- Property appraisal (If applicable).
- Past 24 months of residence with complete address.
- Length of Time at each residence.
- Name and address of landlord (if renting).
- Employment History (if applicable).
- Employer’s names and address for last 2 years.
- Current Pay Stub.
- Dates of Employment.
- Two Years of W-2s (most recent)
Loan Programs
Get Funding
How It Works
Loan Process and Requirements
Step 1
Submit a Loan Request
It all starts here… complete our quick and easy online application, whether you have a deal that you need funded or need a pre-approval letter.
Step 2
Submit Supporting Documents
Provide the supporting required documents through our online portal, or email them to us, for our underwriting process. We will quickly turn around a commitment to you.
Step 3
Document Review
We will review the title commitment, appraisal, and all other documents so that your final loan documents can be produced.
Step 4
Closing
Once the closing has been executed, we will disburse the funds. Our average closing timeframe is 7 days
Join the satisfied customers who choose to work with Southern Mortgage Lenders, LLC.
At Southern Mortgage Lenders, LLC we are proud to fund commercial properties, multi-family residential, investment residential properties, fix and flip projects, land, and construction Nationwide
