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Cressida Direct describing itself
Cressida Direct
Los Angeles, CA·Nationwide
Cressida Direct offers commercial bridge, residential fix-and-flip, residential ground-up construction, commercial DSCR, residential DSCR, owner-occupied commercial, SBA 504, and SBA 7 financing.
Loan programs
Maximum leverage
Max LTV 70%Max LTC 80%Max ARV 80%Max LTP 80%
Maximum leverage
Max LTV 70%Max LTC 85%Max ARV 80%Max LTP 80%
Maximum leverage
Max LTV 70%Max LTC 85%Max ARV 80%
Maximum leverage
Max LTV 70%Max LTC 85%Max ARV 80%
Also offers— no published terms
Terms & qualification
- Typical loan size
- $200K – $5M
- Typical term
- 12 mo – 30 yr
- Interest rate
- 6.5% – 11%
- Origination / points
- 1% to 4%
- Minimum FICO
- 660
- Lien position
- First in most states, Second mortgages available in California only up to 60% combined LTV
- Prepayment penalty
- Application of Pre Payment Penalties depend on loan program and can range from a step-down to fixed to a minimum interest earned structure.
- Payment structure
- Interest-only
- Recourse
- Sometimes
- Closing speed
- 30 days typical · 25 days fastest
- Prepayment structure
- Step-down, Minimum interest
- Cross-collateral
- Yes
- Equity / JV capital
- No
- Income documentation
- Credit Report, Tax Returns, Bank Statements, Financial Statements, Loan Application, Appraisal Required for Commercial Property, Always Before Funding, Broker Price Opinion (BPO) Accepted for Commercial Property, Never
- Borrower entity
- Individual(s), LLC, Limited Partnership, Trust, Corporation