Property Type Multifamily (5+ units) max 20% commercial income
Loan Amount $750,000 and up (Higher loan amounts in "Preferred" MSA's)
Loan App Fee Estimated at $8,500 non-refundable fee for 3rd party reports and processing.
Rate Lock Generally 1% Good Faith Deposit, refundable upon closing
Loan Terms 5, 7, 10 or 15 years fixed. Balloon and Hybrid loans available.
Debt Service Tier 2: 1.25x Tier 3: 1.35x Tier 4: 1.55x
Loan to Value Tier 2: 75% Tier 3: 65% Tier 4: 55%
Escrows Required
Occupancy Physical occupancy 90% for at least 90 days.
Qualified Liquidity: 6+ months of debt service
Borrowers Net Worth: must exceed the loan amount
FICO: 680 or greater
Cash Out Cash outs are not permitted if subject collateral has been owned for less than
2-years
Timing 45-60 days from complete application to commitment.
For a Quick Rent Roll, Historical Operating Statements, Photos and Borrower Info
Quote (PFS, Address and FICO)