Varied commercial real estate loans for portfolios of Fractured Condos, Multifamily and Scattered Single Family Homes.
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Fractured Condo, Scattered Single and Multi-Family Portfolios
Acquisition Financing | Rented Stabilized Portfolios | |
---|---|---|
Interest Rates | Starting 8% | Starting at 5.5% |
Loan Amount | Up to 80% of Cost 1:25 DSC Minimum | Up to 75% LTV 1:20 DSC Minimum |
Term | 12 - 24 Months | 5 - 10 Years |
Loan Amount | $1 M to $50 Million | $500 K to $100 Million |
Closing Times | 3 - 4 Weeks | 4 - 6 Weeks |
Recourse | NONE | |
Loan Cost | 1.5% under $3M, 1% over $3M | |
Assumable | YES | |
Appraisals BPO | required for values over $250,000 for values under $250,000 |
|
Underwriting Cost | $200/property for all due diligence |
|
Lender Legal Costs | 5,000 ($2,000 for loan amounts under $1M) | |
Pre-Payments: 5 year is 4.5 years yield maint, 10 year is 9.5 years yield maint.
Sell offs: Each property assigned a loan amount and is paid off at 120%. Loans above $5M we can substitute assets to avoid prepays.
For more information on this and other commercial real estate loan programs, call 800-536-3371 ext: 101