About Clipper Commercial Capital
Clipper Commercial Capital is hard money lender based in Marblehead, MA. They offer loans in Boston. Their lending focus is mainly on hard money loans for commercial properties. They issue loan amounts ranging from $100,000 to $100,000,000 with a maximum LTV of 80% and rates ranging between 8% and 12%. They offer loans on all of the following property types: multi family residences, apartment buildings, office units, retail units, hotels and motels, storage facilities, senior facilities, mixed use buildings, warehouse spaces, industrial buildings, medical facilities, and raw land.
Loan Types Offered: Commercial Hard Money Loans
Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land
Areas Served: Boston
Lending Guidelines for Clipper Commercial Capital
Below are the general loan guidelines published on the Clipper Commercial Capital website. Please confirm all terms and rates directly with the lender.
Commercial Hard Money LoansLoan Amounts: $100,000 - $100,000,000
Available Rates: 8% - 12%
Typical Terms: N/A
Points Charged: 1% - 4%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A
The following loans are for education purposes only. They do not represent actual loans executed by Clipper Commercial Capital.
Loan Example 1
Jay runs a business in Boston, MA and decides to buy a new retail space for his operations. Since he is unable to obtain a conventional mortgage loan from a bank, he looks to Clipper Commercial Capital for a commercial hard money loan. The lender agrees to a 80% loan-to-value (LTV) on the deal and the building costs $230,000, so they will fund $184,000 and Jay will bring the other $46,000. The loan also dictates a 12 month length, a 8% interest rate, interest-only payments made monthly with a balloon payment at the end of the note (without a pre-payment penalty), and a 1 percent origination charge. Jay will need to pay an origination fee of $1,840 and he will then begin making the monthly payments of $1,227 ($184,000 principle amount x 8% interest / 12 months). He may repay the note early if he decides to because there is no pre-payment penalty but he will be responsible for the full principle amount whenever he concludes the loan.
Loan Example 2
Leona finds a townhouse in Boston, MA to remodel and re-sell. Because she does not have enough cash to buy the property outright, she takes a hard money loan from Clipper Commercial Capital with the following parameters:
a) A $150,000 sales price, b) a 80% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 2% origination fee.
Leona plans to list the house when the note expires for $210,000. If she achieves this goal, the deal numbers will be the following:
$210,000 sales price
- $120,000 principle (80% LTV)
- $30,000 down payment (20% on 80% LTV)
- $2,400 origination points (2% of the $120,000 principle)
- $4,800 interest payments (6 months x 8% interest)
= $52,800 total profit (does not include taxes or rehab costs)
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