Commercial Real-Estate Mortgages
Evergreen Funding LLC. is a full service, asset-based equity lender for commercial real estate financing. We are located at 13320 SW 128th Street in Miami, Florida. Our focus is on developing creative asset-based loans that are tailored to the needs of our borrowers. Each loan application is reviewed for the purpose of designing a loan program that provides the best results for the borrower as well as the investor(s). We believe that the key to a successful relationship and a growing business is total honesty and transparency between the needs of our borrowers and the needs of our investors. We provide for this transparency through full disclosure and continued interaction between us, as servicer, and the borrower. All of our loans are closed by licensed attorneys and the closing documents always include title insurance. Our mortgages rarely provide for additional loan advances unless agreed upon in advance by the investor(s). Our investors are fully informed on any changing circumstances with the borrowers, for example, no payments, requests for modifications, etc. We, as the servicer, also participate in all our loans as an investor using our own money.
If you have equity in real estate and are looking for a fair and flexible loan in excess of $25,000, Evergreen Funding can help. We fund loans with our own capital and investor capital. All loans are processed quickly and efficiently. As a borrower your only upfront cost would be the cost of an appraisal which we would arrange for if all the remaining terms of the note and mortgage were agreed to.
Asset-based Equity Lending is lending money on a percentage of the value of the property being used as collateral. As an example, if your property is worth $300,000 we would agree to a total financing package of approximately 60% (called "loan to value") or $180,000 ($300,000 * 60%). If you already have a $100,000 loan on the property we would consider loaning an additional $80,000 ($300,000 * 60% - $100,000). Asset based lending puts more emphasis on the property value rather than on the owner’s credit and ability to pay.
Our fee structure is simple. The borrower pays for the property appraisal, which is necessary in determining the maximum loan available. The borrower also pays all closing costs pursuant to Florida State law. The only additional charge is a lenders fee of approximately 6% of the borrowed funds. Monthly payment and length of loan is determined on a loan by loan basis and negotiated with borrower. We NEVER charge any prepay penalties for early payoff of a loan.
Asset-based equity lending is not only for borrowers with poor credit. In fact, many borrowers of equity based loans have good credit. There are several reasons for choosing equity loans. They're fast in many cases equity loans can be closed within a few weeks. They can also be used for bridge or short term financing. In addition to the collateral, we review the borrower's ability to repay.