|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.