Great Falls Commercial Lending

About Great Falls Commercial Lending

Great Falls Commercial Lending is a private lender in Passaic, NJ providing funding throughout the following locations: Atlantic County, Bergen County, Burlington County, Camden County, Cape May County, Cumberland County, Gloucester County, Hudson County, Hunterdon County, Mercer County, Middlesex County, Monmouth County, Morris County, Ocean County, Passaic County, Salem County, Somerset County, Sussex County, Union County, Warren County, and Essex County. They provide ground up construction loans and commercial hard money loans. Their lending guidelines are versatile, including loan amounts ranging from $50,000 to $5,000,000 with a maximum LTV of 75%. They provide loans on numerous property types, including multi family residences, apartment buildings, offices, retail spaces, hotels, storage buildings, senior housing communities, mixed use buildings, warehouse buildings, industrial buildings, and medical offices.

Loan Types Offered: Commercial Hard Money Loans, New Construction Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical

Areas Served: Atlantic County, Bergen County, Burlington County, Camden County, Cape May County, Cumberland County, Gloucester County, Hudson County, Hunterdon County, Mercer County, Middlesex County, Monmouth County, Morris County, Ocean County, Passaic County, Salem County, Somerset County, Sussex County, Union County, Warren County, Essex County

Lending Guidelines for Great Falls Commercial Lending

Below are the general loan guidelines published on the Great Falls Commercial Lending website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Great Falls Commercial Lending.

Loan Example 1

Great Falls Commercial Lending issues a private money loan to Rosie for the purchase of a new commercial building after she is turned down for a conforming loan by her bank due to a low FICO score. Since the lender and borrower agree on a 50% loan to value (LTV), Rosie will fund $180,000 at the closing and the principle will be $180,000 since the list price of the property is $360,000. In addition, the lender requires a 4 percent origination fee in addition to the 10%, 18 month term on the deal. They will not charge a pre-payment penalty if Rosie pays off the loan early. Rosie will have to pay an origination fee of $7,200 and will then start making the interest payments of $1,500 ($180,000 principle amount x 10% interest / 12 months in a year). She may pay back the note early if she wants to because there is not a pre-payment penalty but she will be responsible for paying off the principle whenever she closes the loan.

Loan Example 2

Great Falls Commercial Lending makes a loan to Kayla for a rehab project in Newark, NJ. The loan dictates the following:

a) A $330,000 purchase price, b) a 85% loan-to-value (LTV), c) a 6 month term, d) a 10% interest rate, and e) a 4% origination fee.

Based on a $445,500 sales price after the 6 month term, the final numbers for this deal would look like the following:

$445,500 sales price
- $280,500 loan principle (85% LTV)
- $49,500 down payment (15% on 85% LTV)
- $11,220 origination fee (4% of the $280,500 principle)
- $14,025 total interest paid (6 months x 10% interest)
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= $90,255 gross profit (doesn't include taxes or renovation costs)

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