MACCF can finance 100% of the down payment money that a Borrower needs to purchase commercial real estate property in 50 states. It's a smart way to have the required down payment to purchase commercial land or buildings.
TO PURCHASE - The Borrower needs to put down a deposit on the "Contract of Sale" to the Seller and a down payment is required by the Primary Lender. The Borrower can receive a loan for the down payment at closing.
TO REFINANCE - Most Lenders offering a 5 to 10 years loan. Borrowers that cannot refinance in time goes into default. Another down payment to same Lender will extend the loan, lower the rate and the mortgage payment.
BORROWING THE DOWN PAYMENT – Must have excellent credit (750+). A strong bank account, 3 years tax returns and proof of income to pay the money back in 1 to 2 years.
COLLATERAL - Is a percentage of the Borrower’s LLC or Corporation equal to the down payment from the Lender. The percentage is paid monthly to the Lender out of the net income earned.
PAYING BACK THE DOWN PAYMENT – The Borrower will pay the Lender a percentage of the income coming from LLC equal to the down payment loan from the Lender. The percentage is paid as interest only monthly until the principal is paid in full.
Down Payment Loan - Can be financed for 12 to 24 months. At the maturity date, the Borrower can pay back 100% of the down payment to the Lender, and essentially remove the Lender’s ownership stake in the LLC.
MACCF FEE - $1000 application fee and $300 a month for service rendered to the Borrower until the down payment is paid in full to the Lender.
If you don't get the down payment loan you need to purchase commercial property, the applicant gets 50% refund.