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- Apartment Buildings (5 units or more)
- Mixed Use (not to exceed 40% commercial)
- Student Housing
- Blanket Mortgages
- Ground Leases
- HAP Contract/Section 8 Housing
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Individuals, corporations, revocable trusts, partnerships, maximum 2 member LLC (no sub entities).
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- Low interest rates
- 10 - 30 year fixed rates
- Low third party costs
- Can underwrite with 3 months stabilized income
- Interest only option available
- Low debt coverage ratio options available (for low cap rate markets)
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| $2,000,000 - No Maximum Amount |
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| 6 month, 3, 5, 7, 10, and 30 year terms available. Up to 40 years. |
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| Assumable, subject to approval and applicable fees |
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| 1.15 Purchase, 1.20 Refinance, .90 for low cap rate markets* |
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| Decling based on loan term or Yield Maintenance. |
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Up to 80% of Refinances and Acquisitions
Up to 85% with Seller Financing
Up to 85% LTV on deals over $3,000,000
Up to 90% LTV on amounts over $5,000,000 on strong cash flow deals |
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| Cash out - 3 to 12 months required, up to 90% of orig. purchase price |
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| Properties may be eligible after one year for second mortgage offered by lender up to 80%. |
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| Good credit, scores over 620. Liquid Assets greater than or equal to 6 months principal and interest payments. |
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| Early or standard rate locks available. . |
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| $5,000 - $10,000 deposit typically required for appraisal, environmental, and property inspection. |
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| Taxes and Insurance typically required. |
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Include the following in your request for a loan quote:
1. Completed FNMA 1003 Uniform Residential Loan Application or Personal Financial Statement.
2. Current Rent Roll
3. YTD Operating Statement
4. Past two years financial statements on property
5. Copy of Purchase and Sales Agreement (if applicable)
6. Digital Photos of Property
7. Personal financial statements on Principal(s)
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