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