Multifamily Loan

Conduit Multifamily Loan Program Guidelines

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.