American Commercial Mortgage

American Commercial Mortgage offers permanent and fixed rates, Interim, mezzanine, Fannie Mae, and HUD lending products. Typical properties include: multi-family, anchored, unanchored retail, full and limited service hotels, offices, light-industrial, self-storage, and senior housing.
William E. Cunningham, President
Mr. Cunningham has over 28 years of financial experience with Fortune 100 companies. After graduating from Boston College, he began his career with the international accounting firm of Coopers & Lybrand (now Price Waterhouse Coopers). He has held several key managerial and executive positions with three Fortune 100 companies who are worldwide industry leaders in the manufacturing, consumer and natural resources industries. During the 1990's, he became a senior executive with a nationwide commercial real estate lender.
As President, Mr. Cunningham brings many customer-based principles that he championed while with major corporations to the commercial lending industry. He has incorporated these customer-friendly practices into American's commercial lending. Persistence in fulfilling the needs and expectations of each borrower has been fundamental in American's success.
"Understanding the needs of each borrower, the inherent value of the underlying real estate and providing the level of proceeds at the most competitive price is our principal job," according to Mr. Cunningham. "When we send out an application, we like the property and expect to have a deal completed in 45 to 60 days in accordance with those terms. We don't mind a lot of hard work to overcome issues that come up if it means we'll have a satisfied customer at the end of the day."
loan Services: Industrial Buildings
Debt Service Coverage Requirement: Minimum 1.20X to 1 with spreads starting at 190 bps
Amortization: Standard amortization for an industrial building is 25 years, however, 30-year amortization is available in certain cases.
Term of loan available: Generally, 10-year terms, however, loans may be written for a term of as little as 7 years to a maximum of 15 years.
Maximum Loan-to-Value: LTV requirements are 80% of appraised value.
Prepayment restrictions: Loans are subject to being prepaid after the fourth year with Treasury Defeasance (the purchase of matching U. S. Treasury obligations maturing at the original final payment date).
Loan assumption: Loans are assumable subject to approval for a 1% fee to a qualified borrower