Home > Multi-Family > $3,000,000 & Up
$3,000,000 & Up
PROGRAM DETAILS
Eligible Properties
- Multi-family
- Mobile Home Parks with 25 plus pads
- Limited Mixed use acceptable
- Loan amounts $3,000,000 and up
- Minimum DSC 1.25
- Maximum LTV 80% loan to cost for purchases, refinances up to 80% LTV
- Tiered pricing matrix, more favorable terms available for higher DSC & lower LTV
- Interest only options available
- Tertiary markets allowed
- Fixed rate terms of 5, 7, 10, 15, 15/15, 20/20, & 30/30 are available
- Up to 30 year amortization
- 2% rate lock deposit at commitment refunded at closing
- Impounds for taxes, insurance, and replacement reserves
- 90% occupancy required for 90 days prior to closing
- Loan is assumable subject to approval and 1% fee
- Supplemental financing available after 12 months
- Net worth of guarantors equal to or greater than loan amount. Larger loans adjusted on case by case scenario
- Liquidity requirements 10% of loan amounts, reviewed on case by case scenario
- Middle FICO of at least 680 or greater
- Non-recourse loan with single asset entity required