US CMBS LOAN

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Apartment Loan

Conduit Multifamily Loan Program Guidelines

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Eligible Properties Multifamily housing properties with 5 plus units.
Loan Size $5,000,000 to $500,000,000.
Pricing Depends on loan to value and DSCR.
Programs Up to 10 years fixed rate terms (balloon at end of fixed term).
30 year amortizations.
Origination fee 1.00% of loan amount
Prepayment Defeasance or yield maintenance.
Personal Guarantee Non-recourse subject to standard carveouts. Loans are assumable.
Minimum DSCR 1.20x Minimum.
Fees $15,500 - $25,000, due upon acceptance of letter of intent.
Loan-To-Value 75% of purchases price.
Rate Lock At commitment.
Occupancy Requirements No less than 90% for 90 days preceding closing.
Title & Appraisal Requirements Title & Appraisal to be ordered by lender at borrower's cost.
Impounds Taxes, insurance, tenant improvements, replacement reserves.
Apartment Loan Requirements . Property description and location map.
. Representative color photographs.
. Current rent roll and year-to-date operating statement.
. Operating history - prior two years.
. Current year operating budget.
. Sponsor resume.
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