| Loan amount |
from $250K to $5 Million |
| Interest rate |
Starting at 5.67% on our 12 month libor ARM |
| Loan term |
12 months libor, 3, 5, 7 & 10 year fixed hybrid. All loans amortized over 30 years |
| Prepayment penalty |
5% declining |
| LTV |
Up to 65% for purchases. LTV can be increased to 70% on selected markets |
| Minimum credit score |
680 |
| Minim DSCR |
1.25. This may be increased based on risk of transaction |
| Refinance |
Cash out refinance request are typically limited to 50% maximum |
|
Upon conclusion of fixed rate terms loans will roll to 6 month ARM with interst rate adjustment capped at 1.00% |
|
Stable current and historic cash is generally required |
|
Borrower must be solid: Market experience, liquidity, net worth, personal credit. Full recourse for at least one key principal required |
|
All programs are subject to pricing adjustment based upon loan size, property condition, age, maintenance and credit indicators |
|
Rates are only for A&B Grade properties |
|
Loans under $500,000 will have a rate spread increase of 35-60 bps |
