Commercial Guidelines


  • First mortgage lien. Participations and joint ventures will be considered.
  • Loans from $50,000 to $3,000,000

  • Loans up to 70% of appraised value
  • Appraisal required on all properties by approved Paces Funding appraiser (borrower is responsible for payment)
  • Mortgagee title policy required at closing
  • Builder’s risk and/or hazard policy naming Paces Funding as additional loss payee required at closing
  • Closing attorney selected by Paces Funding


  • Up to 70% LTV

  • 12 month term
  • Interest rate minimum 10% per annum

  • Origination fee minimum 3% of loan

  • Customary closing costs and fees paid by borrower
  • Appraisal by Paces Funding approved appraiser
  • Interest due on the first of each month
  • Extension fees beyond original term may apply


  • Completed borrower application
  • Historical financial operating statements and projected future pro-forma
  • No credit score requirement
  • Executed contract for purchase and detailed construction budget, if necessary, from contractor required
  • Adequate financial reserves to cover expenses of closing and continued borrowing
  • Exit strategy to retire loan