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MULT I SILVER
| Loan Amount: |
$500,000 - $5,000,000 |
| Term: |
30 years |
| Amortization: |
30 years |
| Minimum DCR: |
1.20x |
| Maximum LTV: |
75% on Purchase; 65% on Rate/Term and 50% on a Cash Out Refinance |
| Interest Rate: |
Fixed Hybrids – 5 year fixed, 7 year or 30 year; floating after fixed period up to the 30 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: |
>= 680; middle score of a tri-merged credit bureau report |
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