|
|
Stabilized
multi-family, office, retail, industrial, Self
storage and most other income producing properties |
|
|
Nationwide except
Alaska and Hawaii |
|
|
$500,000 to
$7,500,000 |
|
|
15, 20, 25 or 30
years |
|
|
Up to 30 years |
|
|
100 - 300 basis
points over Wall Street Journal (WSJ) Prime rate,
depending on property type |
|
|
One percent (1%)
payable at funding |
|
|
One to three days
prior to closing; 30 day forward lock available
after commitment |
|
|
Negotiable based
on loan term and underwriting guidelines |
|
|
Required for taxes
and insurance |
|
|
Maximum 80% based
on Investment properties
Maximum 100% based on
Owner Occupied properties |
|
|
1.25x - 1.30x
minimum; lower debt service coverage available with
pricing adjustment |
|
|
Full recourse
required on most loans |
|
|
$2,000
non-refundable; application fee will be applied
towards origination fee at closing |
|
|
Borrower is
responsible for all third party expenses including
environmental, structural condition, appraisal,
legal fees and other out-of-pocket expenses |
|
|
30-45 days to
close from receipt of complete application package |
