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Loan Size
- $500 thousand to $5 million
Location
Programs
Highly competitive with a wide array of rate plans including:
- 3, 5, 7 and 10 year fixed terms, followed by floating rate periods up to 30 years
- 15 year fixed rate, fully amortizations
- 3 and 5 year interest only structures available
Prepayment
- Fixed declining (no yield maintenance or defeasance)
Personal Guaranty
- Required
- Guaranty drops to 50% with LTV below 75%
- No recourse at 50% LTV
Minimum DSC
- 1.20 based on the actual loan constant
Fees
- Fixed third party costs of $3,500 for multifamily properties and $5,500 for mobile home parks
- Property condition report required based on asset condition/quality
- $1500 processing/underwriting fee
Loan-to-Value
- 80% for purchase, rate & term refinance
- 75% for cash out refinance
Rate Lock
- 60-day forward lock available requiring a $500 deposit credited at closing
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