| Loan Amount: |
$500,000 - $20,000,000 |
| Term: |
10 years |
| Amortization: |
30 years; Interest Only also available |
| Minimum DCR: |
1.20x |
| Maximum LTV: |
80% on Purchase; 80% on Rate/Term and 75% on Cash Out Refinance |
| Interest Rate: |
Fixed Hybrids – 3 year fixed, 5 year, 7 year or 10 year; floating after fixed period up to the 10 year term |
| Origination Fee: |
None; can pay points to buy rate down |
| Eligible Properties: |
Multifamily (5+ units; 6+ units in N.J.); Mixed-Use with < 25% commercial component |
| Eligible Borrower: |
Single-asset entity; U.S. citizens only |
| Recourse: |
Full recourse to Sponsor |
| Prepayment Penalty: |
Corresponds with the fixed period term of loan; declining |
| Assumable: |
Subject to approval and a 1% fee |
| Subordinate Financing: |
Not allowed |
| FICO Score: |
>= 660; middle score of a tri-merged credit bureau report |
