Loan Amount $100k - $2M
Terms 5-Year ARM/30–Year Fixed
Amortization 15, 25, 30
Max LTV <$500k:75%/>$500:70%
Min DSCR Owner-Occupied:1.20x1/Investor:1.15x1
Stabilization 75% occupancy required over a 90 day trailing UW period2
UW Method Owner-Occupied: Global DSCR Investor:
Pre-Payment Fee 5% for 5 years/5% for 3 years
Declining 5%, 4%, 3%, 2%, 1%
Documentation 2 years personal & business tax returns
Eligible Properties Tier I: Multifamily, Mixed-Use (primary res)
Tier II: Retail, Mixed-Use (primary comm),
Warehouse/Self-Storage, Office, Light Industrial,
Automotive, Mobile Home Park
1Debt service requirement is based on borrower’s FICO score and may be higher than figures shown
2Not applicable if property is purchased as a new space or expansion.
GENERAL GUIDELINES & POINTS OF EMPHASIS
6+ months of liquid financial reserves measured by number of months of the qualifying
Principal and interest payment of the subject property for all purchases, cash-out and rate/term transactions.
0.375% = 1 point cost
WSJ Prime Index plus margin on note date. Initial Reset and Annual Adjust cap 2%.
Life Cap: Initial rate +6%. Life Floor: Initial rate