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Silver Hill Funding has introduced several updates to their lending program for small-balance commercial mortgage loans from $250,000 to $1 million. The nationwide program now features financing for mobile home parks and automotive properties, the latest additions to the list of eligible property types which also includes multifamily, mixed-use, office, self-storage, warehouse, light industrial and retail properties.
Silver Hill Funding has further expanded their program by adding 30-year amortizations to their product offering and a three-year prepay option for borrowers who may choose to refinance or pay off their loan in the near term.
“These additions to our program create more opportunities for commercial and residential mortgage brokers looking to finance small-balance commercial deals and become solution providers in the eyes of their clients,” said Michael Boggiano, senior vice president–national sales manager for Silver Hill Funding.
Other program highlights include financing for owner-occupied and investment properties; terms of five-, seven- and 10-years; loan-to-value (LTV) ratios of up to 75 percent; no seasoning requirements; and cash-outs.