Gomberg Report Preferred RE What New Financing Recent Deals Interest Rates
Gomberg Express Program
Gomberg Nationwide 80 Program
Gomberg Nationwide 90 Program

Available from other lenders
Fannie Mae DUS Program
Market Rents Program
Nationwide REIT Program
West Coast Program
Nationwide Commercial
Loan Program
No Document Program
Cross Collateral
Commercial Mortgage
Backed Secrities
Sub Prime Lenders
Local Banks
FHA 221D-4
Fannie Mae Funded
Forward Program
Construction Loans
Rooming Houses
   
Sub-prime Lenders

We have several programs available for borrowers who are not considered qualified for the most favorable programs.  There are many reasons a borrower might not be qualified.    Below average credit scores, unstable employment, low income, and heavy debt ratios are common reasons for being labeled a "sub-prime" borrower.  A "sub-prime" borrower can be expected to pay a higher interest rate in most cases.  We also have hard money lenders available.  Their rates are even higher, but they do have the advantage of being able to close a loan very quickly.  Most sub-prime lenders offer 75% LTV with rates usually 1-2 points higher than most local banks.  Recent sub-prime transactions originated by Gomberg Financial include:

$400,000 refinance loan for a 12-unit apartment building in Worcester, MA.  The loan is fixed for 10 yrs. at 8.25% and amortized over 25 yrs.
$390,000 purchase loan for a 6-unit apartment building in Lynn, MA.  The loan is fixed for 10 yrs. at 8.0% and amortized over 25 yrs.
$350,000 refinance loan for 6-unit apartment building in Lynn, MA.  The loan is fixed for 10 yrs. at 8.65% and amortized over 25 yrs.
$335,000 refinance loan for 14-unit apartment building in Haverhill, MA.  The loan is fixed for 10 yrs. at 7.5% and amortized over 25 yrs.  The subject property had some deferred maintenance.
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$229,500 cash-out refinance loan for a 6-unit apartment building in Brockton, MA.  The loan is fixed for 10 yrs. at 8.5% and amortized over 25 yrs.

Since it's founding in June of 1998 Gomberg Financial Services has originated over 370 commercial loans.

If you would like more information on any of our commercial loan programs, please contact our office by phone (781-631-7929) or send us an email.