LOAN AMOUNTS: $3,000,000 to $100,000,000
ELIGIBLE PROPERTIES: Prefer Class A and B properties (Class C Properties on a case-by-case basis)
MAXIMUM LTV / LTC: 80% (75% in some markets)
SPREADS: 200 to 400 basis points over the corresponding index
INDEXES: Typically US Treasury (other indexes may be use on case by case basis)
RATE FLOOR & CAP: Rate floor & CAP may be established at application
MINIMUM DSCR: 1.20:1 (higher DSCR required in certain markets)
LOAN TERMS: 3, 5, 7, or 10 years (additional spread for special term requests)
TYPICAL CLOSING: 45 - 60 days after acceptance of application and deposit
AMORTIZATION: 25 to 30 years
PREPAYMENT: Negotiable
RECOURSE: Possible
ORIGINATION FEE: 1.0% of loan amount
ASSUMABILITY: Yes, to a Lender qualified borrower for 1.0% fee and all costs
UP FRONT DEPOSIT: $15,000 - $25,000 deposit for third party reports