LOAN AMOUNT
Up to $6 million nationwide
TERM
5 – 30 years
AMORTIZATION
Up to 30 years
INTEREST RATE
Fixed- and variable-options available
MAXIMUM
LTV 80%
MINIMUM
DSCR 1.25x
SUPPLEMENTAL FINANCING
Supplemental Mortgage Loans are available
PREPAYMENT AVAILABILITY
Flexible prepayment options available, including yield maintenance and declining prepayment premium
RATE LOCK
30- to 180-day commitments
ACCRUAL
30/360 and Actual/360
RECOURSE
Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy
ESCROWS
Replacement reserves may be waived for certain transactions. Replacement Reserve, tax, and insurance escrows are typically required for higher leverage transactions
THIRD-PARTY REPORTS
Streamlined inspection and environmental screening using the ASTM E-1528-14 protocol
ASSUMPTION
Non-recourse loans are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience
Program Highlights
- Lower cost of execution
- Competitive rates
- Certainty and speed of execution for borrowers
- Team with experience and scale to support this unique market
- Single asset security allows the most flexibility in the market
- Extensive experience serving the small loan market
- Streamlined third-party reports
Eligibility
- Existing, stabilized, conventional multifamily properties
- Properties with 5 or more units
- Loans for acquisition or refinance
