In these times of extremely tight credit, there is still money available for good loans. Guidelines have certainly tightened up and there is more focus on the fundamentals. The three “common sense” items that are scrutinized are:
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The basics numbers of the project: Are the assumptions realistic and are the projections consistent with the project history and the current market?
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The liquidity of the borrower(s): Does the borrower have sufficient cash to close… plus at least ten percent of the loan amount after closing?
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Experience of the borrower: How many projects exactly like this has the borrower done a before?
Gelco focuses primarily on multi-family housing in all phases and sizes. Lenders range from local savings and loans, to private banking departments to DUS lenders for Freddie, Fannie and HUD. And, using what we call “the portal” at these lenders, there is access to all products available. (We even got a competitive bid for financing $100,000,000 in taxi medallion financing within half an hour of our first phone call.)
Contact us to talk about what financing is available for you project.

Gelco Real Estate Funding, Inc.