CMN Funding

About CMN Funding

Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial loans. They issue loan amounts starting at $2,000,000. They do not require a minimum FICO score to receive a loan. They will make loans on all of the following types of properties: multi-family units, apartment buildings, office buildings, retail storefronts, hotels/motels, storage facilities, assisted living facilities, mixed use spaces, warehouse spaces, industrial facilities, medical offices, and undeveloped 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: National

Lending Guidelines for CMN Funding

Below are the general loan guidelines published on the CMN Funding website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by CMN Funding.

Loan Example 1

To facilitate his small business, Corey decides to acquire a new building. After being turned down for conventional mortgage loan from his credit union, he secures a commercial hard money loan from CMN Funding. The list price of the property is $220,000 and the lender agrees to fund 70% of the purchase price (the loan-to-value / "LTV"), or $154,000. The remaining $66,000 will have to be paid by the borrower when the transaction closes. The terms of the note include a 18 month term, a 10% interest rate, and 4 origination points paid by Corey when the transaction closes. Corey will be required to pay an origination fee of $6,160 and he will then start to make the monthly payments in the amount of $1,283 ($154,000 principle amount x 10% interest rate / 12 months per year). He may pay back the note whenever he wants to because there isn't a pre-payment penalty but he is responsible for paying off the full principle whenever he concludes the loan.

Loan Example 2

Jon is a real estate investor in Chicago, IL. He finds a run-down townhouse for a rehab project and takes a hard money loan from CMN Funding with the following features:

$170,000 sales price
85% loan to value (LTV)
6 month term
9% rate of interest
1% origination fee

If Jon accomplishes his goal of a $221,000 sales price, the final numbers of the project will be as follows:

$221,000 sales price
- $144,500 note principle (85% LTV)
- $25,500 cash paid at closing (15% on 85% LTV)
- $1,445 origination fee (1% of the $144,500 principle)
- $6,503 total interest paid (6 months x 9% interest)
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= $43,053 gross profit (does not include taxes or renovation costs)