Program info below pertains to commercial and investment buy and hold loans (non rehab).  GCMAC will consider 1-4 unit non owner occupied rehab loans in the following markets:  San Antonio, Austin, Corpus Christi, Houston, Dallas, Fort Worth.  Please contact GCMAC for further details.

Loan Amounts

$50,000 to $2,500,000

Interest Rates

8.5% to 12.0%

Max Loan-To-Value

70.00%

Max Loan-To-Cost

90.00%

Origination Fees

1% to 3%

Loan Terms

12 months to 360 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
  • Owner Occupied Commercial
Minimum Occupancy Percentage

0%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Adult Day Care
  • Agricultural
  • Assisted Living Facility
  • Auto Dealership
  • Auto Repair
  • Car Wash
  • Child Day Care
  • Club
  • Commercial Condominium
  • Commercial Land
  • Community Center
  • Condominium
  • Equestrian
  • Event Center
  • Gym
  • Hotel
  • Industrial
  • Marina
  • Mixed-Use
  • Mobile Home Park
  • Motel
  • Multifamily
  • Night Club
  • Office
  • Parking Lot
  • Place of Worship
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • RV Park
  • Ranch
  • Recreational
  • Rehabilitation Facility
  • Religious Facility
  • Residential Land
  • Retail
  • Senior Housing
  • Single Family Residence
  • Sports Facility
  • Storage Facility
  • Student Housing
  • Timberland
  • Vehicle Parking

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Commercial Property Value Add
  • Commercial Long-Term

Specialty Loan Types

  • Residential Long-Term Rental
  • Note Purchase
  • Partner Buyout
  • Discounted Note Payoff

Agribusiness Loan

Agribusiness Types

  • Cattle Ranch
  • Citrus Grove
  • Corn
  • Cotton
  • Dairy
  • Equestrian
  • Melons
  • Peach
  • Peanuts
  • Potatoes
  • Poultry
  • Row Crops
  • Swine
  • Tree Nuts
  • Vegetables

Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land
  • Hospitality Land
  • Agricultural Land
  • Special Purpose Land

Will Consider Land That is NOT Entitled

no

Max LTV for Land

60.00%

Max LTC for Land Acquisition

70.00%

Purchase Loan

Max Loan-To-Purchase Price

90.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Seller Financing
  • Family

Rehab Value Add Loan

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

70.00%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

5

Details and Requirements

Typical Closing Time (Days)

15

Fastest Closing Time (Days)

7

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Amortized

Payment Structure Details

2 year intererst only or 15-30 year fixed (P&I) with 5 year balloon

Pre Payment Penalty

no

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Non-Profit Corporation

Documentation Required

  • Credit Report
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

500

Credit Check Description

No minimum credit score required. Credit is pulled to view public records and verify any outstanding liens and / or judgments that must be addressed prior to or at closing.

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Commercial Property

Always

Fees

Site Visit Fee

$0 to $150.00

Underwriting Fee

$1,000.00 to $1,500.00

Processing Fee

included in underwriting fee

Documents Fee

$400-$800, as billed by our 3rd party real estate attorney

Settlement Fee

Per title company fees

Escrow Fee

Per title company fees

Title Fee

Per title company fees

Credit Report Fee

$50-$100

Appraisal Fee

BPO fees vary from $250-$500 typically. Full appraisals are as charged by that 3rd party vender. All appraisal and BPO feed collected upfront.

Environmental Report Fee

Collected upfront if required by lender.

Fees which are mandatory for all new borrower clients

  • Underwriting Fee
  • Settlement Fee
  • Appraisal Fee
  • Inspection Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee

Fees which are charged upfront prior to loan closing

  • Appraisal Fee

Fees which are paid to a third party company

  • Documents Fee
  • Settlement Fee
  • Appraisal Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee

GCMAC is a family owned direct hard money lender (not a broker) based in San Antonio, Texas with more than 29 years experience in equity based lending. We specialize in financing for individuals and companies whose needs are not fully met by traditional banks. Loan approvals have emphasis on EQUITY not credit and income documentation. We have very quick response times and most conditional loan approvals are issued the same day as the loan submission.

Year Established

1989

Office Locations

GCMAC, LTD
507 W. Rhapsody, San Antonio, Texas 78216

Primary Capital Source

  • Own Funds
  • Individual Investors

Alternative Capital Sources

  • Bank Credit Line

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Own Balance Sheet

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Commercial Mortgage Banking
  • Residential Mortgage Banking
  • Commercial Real Estate Investing
  • Residential Real Estate Investing

Percentage of Loans Secured by Commercial Property

70%

Percentage of Loans Secured by Residential Property

30%

Percentage of Residential Property Loans Which are Fix and Flip

20%

Percentage of Residential Property Loans Which are Buy and Hold

10%

Percentage of Loans Secured by Land

10%

Total Number of Loans Funded to Date

2000

Total Loan Volume Funded to Date

$200,000,000

2017 Number of Loans Funded

90

2017 Loan Volume Funded

$14,000,000

Chris Dickson

President / Owner

License Information

Mary Ann Van Ness

Senior Vice President

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
%
months

At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

acres

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