T & M Commercial Funding

About T & M Commercial Funding

T & M Commercial Funding is a private lender in Auburn, ME providing funding throughout the country. They provide hard money refinancing, commercial loans, fix and flip hard money loans, and loans for investments properties. Their lending guidelines are flexible, including loan amounts ranging from $25,000 to $1,000,000 and terms between 1 year and 4 years. They make loans on all of the following property types: single family, multi-family units, mixed use spaces, retail spaces, office units, and warehouse spaces.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans

Property Types Covered: Single Family, Multi Family, Mixed Use, Retail, Office, Warehouse

Areas Served: National

Lending Guidelines for T & M Commercial Funding

Below are the general loan guidelines published on the T & M Commercial 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 T & M Commercial Funding.

Loan Example 1

Rosalie is an investor in Salt Lake City, UT. She locates an older property and decides to rehab it and flip it for a profit. The property has a cost of $230,000 but she does not have the full amount so she obtains a hard money loan with T & M Commercial Funding. The borrower will be required to fund 25% of the purchase price in cash to closing based on a 75% loan-to-value set by the lending company. This makes the principle amount from T & M Commercial Funding $172,500. The parameters of the deal dictate a 10% note for 6 months. They also require a 4 point origination fee, which will also have to be paid when the property closes.

Rosalie will need to contribute a total of $32,400 upon closing to pay the $57,500 down payment plus the $6,900 origination fee. The monthly interest-only payments will then be $1,438 to the lender. If Rosalie sells the house for $345,000 after 6 months, she would then make a gross profit of $99,475 after subtracting the principle of $172,500, the cash contributed at the close of $57,500, the origination fee of $6,900, and the total interest payments of $8,625. This gross profit does not account for remodeling costs.

Loan Example 2

Alan takes out a hard money loan from T & M Commercial Funding in order to remodel a townhouse to re-sell in Spring, TX. The deal has the following parameters:

$170,000 sales price
50% loan-to-value (LTV)
6 month term
8% rate of interest
2% origination fee

If Alan achieves his goal of a $255,000 sales price, the final numbers of the project would be the following:

$255,000 sales price
- $85,000 principle (50% LTV)
- $85,000 cash paid at closing (50% on 50% LTV)
- $1,700 origination points (2% of the $85,000 principle amount)
- $3,400 total interest paid (6 months x 8% interest)
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= $79,900 gross profit (doesn't include taxes or renovation costs)

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