When it comes to acquiring a medical office, securing the right financing is crucial. In Toms River, New Jersey, our team at PrivateMoneyLending.com was able to help a client secure financing for a medical office with an acquisition price of $479,000.
First and foremost, our client approached us with a clear vision and a solid plan. They had identified a promising medical office in Toms River that aligned perfectly with their business goals. However, they needed financial assistance to make the acquisition a reality.
We specialize in providing quick bridge loans to meet the unique needs of our clients. With our flexible lending criteria, we were able to offer a loan amount that covered the full acquisition price of $479,000. Our loan terms included a 12-18 month term with interest-only payments at a competitive rate of 12.5%.
One of the key factors that set us apart from traditional lenders is our ability to work with clients who may not meet the strict requirements of conventional financing. In this case, our client did not have to worry about providing income documentation or undergoing a DSCR calculation. We understand that each client’s situation is unique, and we strive to provide personalized solutions that meet their specific needs.
Our client was pleased to discover that we do not require a minimum credit score for our loans. With a focus on the property’s value and potential, we were able to offer financing based on a maximum loan-to-value (LTV) ratio of 50%. This allowed our client to secure the necessary funds without being hindered by their credit score.
In addition to our flexible lending criteria, our streamlined process ensured a quick and efficient closing. We understand that time is of the essence, especially in the real estate industry. Our team worked diligently to ensure that the transaction closed in less than 30 days, allowing our client to move forward with their plans without delay.
Securing financing for a medical office acquisition can be a complex process, but with the right lender by your side, it can be a smooth and successful journey. At PrivateMoneyLending.com, we take pride in being that trusted partner for our clients. Whether it’s a medical office, a residential property, or a commercial venture, we are committed to providing the financial solutions our clients need to achieve their goals.
Contact us today to discuss your financing needs.
