Magic Financial Services Inc. (407-767-9400) offers acquisition expansion construction recapitalization refinance and buy out financing nationwide. The program offers loans between $250 000 and $1.5 million with companion loans up to $2 million. The term is adjusted quarterly at 2.75% over prime and terms are available up to 25 years fully amortized. The program includes a one-time a SBA guarantee and real estate and secondary collateral are acceptable. The LTV is 90% with a minimum DCSR of 1.00x. Closing costs are between $10 000 and $15 000 and turnaround time is less than 60 days. The company also offers construction perm loans on 15 year or 30-year terms and a jumbo construction loan program with terms up to 12 months and up to 80% LTV. The company also runs a long-term fixed-rate balloon financing program with loans between $1 million and $15 million. The program offers no intercreditor requirement matching maturity and amortization with the first mortgage term sheet closing in less than six weeks and an LTV up to 80%. The existing first must be under 70% LTV based on appraisal and have at least 48 months remaining on the initial term. Origination fees are two points at closing and the rate is fixed at US Treasury.

Westminster Capital Company Inc. (561-392-3040) offers loans for refinancing acquisitions and renovations with minimum loan amounts of $5 million. The program offers loans with terms of 12 to 36 months at a spread rate over the 30-day LIBOR. Only interest is amortized and up to 80% LTV is available and 85% LTC. The loans have a debt service coverage of 1.03 to 1.20 and are non-recourse with the standard carve outs. The company also has a conduit loan program for refinancing and acquisitions available with a $2 million minimum. The program is available for five seven 10 15 or 25 year terms with amortization periods of 10 to 30 years. The maximum LTV is 80% and the minimum debt service coverage is 1.20x.