Dellovo Capital Corporation, a Boston-based commercial correspondent lending firm, has secured agreements with some of the nation’s top direct commercial lenders, allowing them to offer their clients programs from HUD/FHA, USDA, Fannie and Freddie, among others.Dellovo notes that the popularity of these programs in the commercial mortgage market has grown extensively due to the attractive rates and terms available.
With the lack of lending from banks and private institutions, the popularity of the programs Dellovo Capital offers has grown immensely.HUD insured loans have been a strong choice for developers due to the high LTV’s and 35-40 year terms for construction and Dellovo Capital has seen a drastic increase in the number of inquiries for these loans.However, Dellovo recognizes that these transactions have a longer timeline for financing, and although they are more cost effective in the long run, they tend to have higher upfront costs.
Other programs from Fannie and Freddie have allowed Dellovo Capital to give its clients greater options when it comes to financing.These programs can provide a quicker loan funding process with a much lower initial expense to the borrower, while still maintaining competitive rates.However, LTV’s tend to max out at 80% for acquisition and refinance.
Together, the team at Dellovo Capital processed more than $650 million in commercial real estate transactions in 2009 alone. Today, Dellovo Capital works with all types of commercial properties and continues to develop financing solutions for each individual client. A wealth of information about Dellovo Capital, its products, and its staff is available at www.dellovocapital.com. For additional information, call 781-273-0101.