| Loan Amount: |
Minimum $3,000,000 |
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| Loan Term: |
5, 7, 10, 15, 18, 25 and 30 years |
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| Amortization: |
Up to 30 years |
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| Eligible Property |
Multifamily Dwellings minimum 50 units |
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| Borrower: |
Single asset, single purpose entity |
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| Occupancy: |
All properties must be 90% occupied for 90 days |
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| Recourse: |
Non-recourse, with the exception of an indemnity for environmental matters and fraud. |
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| Origination Fee: |
1% of loan amount |
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| Reports: |
Require appraisal, structural engineering and environmental reports |
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| MBS/DUS Commitment Fee |
1% of loan amount |
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| Good Faith Deposit |
2% of loan amount due one day prior to rate lock |
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| Assumability |
Assumable, subject to approval and payment of applicable fees |
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| Loan to Value |
Maximum 80% |
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| Debt Service Coverage Ratio |
Minimum 1.25 to 1 |
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| Rate Lock |
Rates are fixed five to ten days prior to closing at no additional fee. Longer term rate locks are available. |
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| Prepayment Penalty |
Yield maintenance or defeasance; last 90 days fully pre-payable with no penalty. Prepayment terms set at application. |
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| MBS/DUS Pricing |
Contact your loan officer for a price quote |
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| Rate: |
125 basis points over corresponding Treasuries; subject to loan size and asset quality. |
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| Contact your loan officer as rates and terms are subject to change. |
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