Multi Family Substantial Rehab

	90% Loan-to-Cost
	Interest-only construction loan that automatically converts to 40-year permanent financing
	40 Year Amortization
	40 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
	“Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:10 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

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Multifamily - Acquisition      
 

	85% Loan-to-Value
	35 Year Amortization
	35 Year Term (no balloon)
	7.5% Seller promissory note allowed for down payment requirements
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:18 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

 

Multifamily - Refinance    
 

	85% Loan-to-Value (80% with cash out)
	35 Year Amortization
	35 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:18 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

Multi Family- Substantial Rehabilitation   offers more favorable terms than traditional two- step construction and permanent financing. With this program, there is only one clos- ing, and one interest rate lock, which is always lower than traditional bank financing. This program utilizes an interest only (interest is capitalized into the mortgage) construction loan that automatically converts to a 40-Year Permanent fixed rate mortgage upon completion of construction.

	90% Loan-to-Value
	40 Year amortization
	40 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten Year Treasury yield.
	“Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:10 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Skilled Nursing/Assisted Living Facility - New Construction                  

	90% Loan-to-Cost
	Interest-only construction loan that automatically converts to 40-year permanent financing
	40 Year Amortization
	40 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:10 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

Skilled Nursing/Assisted Living Facility - Acquisition

	85% Loan-to-Value
	35 Year Amortization
	35 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:18 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

Skilled Nursing/Assisted Living Facility - Refinance                  

	85% Loan-to-value, no cash out
	35 Year amortization
	35 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:18 Minimum Debt Service Coverage
	This loan is always assumable

Third-party expenses and loan costs are financeable. Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

Manufactured/Mobile Housing - New Construction  
 

	90% Loan-to-Cost
	Interest-only construction loan that automatically converts to 40-year permanent financing
	40 Year Amortization
	40 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:20 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

 Manufactured/Mobile Housing - Acquisition                  
 

	80% Loan-to-Value
	30 Year amortization
	10-30 Year Term
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.
	No personal liability option (non-recourse)
	Negotiable pre-payment terms
	1:20 Minimum Debt Service Coverage

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes. 

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Manufactured/Mobile Housing - Refinance
                  
 

	80% Loan-to-Value
	30 Year amortization
	10-30 Year Term
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten Year Treasury Yield.
	No personal liability option (non-recourse)
	Negotiable pre-payment terms
	1:20 Minimum Debt Service Coverage

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes. 

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Substantial Rehabilitation Insured Loan Program offers more favorable terms than traditional two- step construction and permanent financing. With this program, there is only one clos- ing, and one interest rate lock, which is always lower than traditional bank financing. This program utilizes an interest only (interest is capitalized into the mortgage) construction loan that automatically converts to a 40-Year Permanent fixed rate mortgage upon completion of construction.

	90% Loan-to-Value
	40 Year amortization
	40 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten Year Treasury yield.
	“Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:10 Minimum Debt Service Coverage
	This loan is always assumable
	Third-party expenses and loan costs are financeable.

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Conduit Lending Programs

Property types: Office, industrial, retail, flagged hospitality                  

	75-80% Loan-to-value
	20-30 Year Amortization
	10-30 Year Term
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten Year Treasury Yield.
	No personal liability (non-recourse)
	Negotiable pre-payment terms
	1:25 Minimum Debt Service Coverage
	This loan is always assumable
	Low, fixed closing costs

Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

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 HUD Section 202 Refinance

Program Summary:
Recently, HUD issued policy change H 04-21 to the Section 202
Housing Code. This major policy change allows Section 202 communities
to refinance debt at today’s low rates and use the savings to improve facilities anhe living experience for residents.

	90% Loan-to-value, no cash out
	35 Year amortization
	35 Year Term (no balloon)
	No maximum loan amount
	Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.
	Negotiable pre-payment terms
	1:18 Minimum Debt Service Coverage
	Third-party expenses and loan costs are financeable.

Net Operating Income and valuation may utilize Section 8 Contract rents Rates and Terms determined by LTV, credit, property type and other conditions. This is limited information and meant for general reference purposes.

Hard Money Loans

Hard Money Commercial Bridge Lending Criteria & Rates

2 Week Closings

·       Loan Size-  From $500,000 - most loans fund between $1 and $10 million

·       Location: Urban and suburban US properties

·       Collateral-  Improved commercial and investment residential real estate (no raw land or construction/development projects)

o      WA & CA - residential owner occupied OK. Other states: OK only if held in a corporate entity and proceeds are used for business purposes

·       Rates:

o      From 9.99% - Most loans fund at prime + 4-5% plus a couple of points + broker points, if applicable

·       Terms:  1-3 years, interest only, no prepayment penalty

·       Max LTV:      65% LTV*

o      Purchase: Value is actual purchase price of the real estate* If borrower has down 30+% in cash, we'll "stretch" the LTV max

      Refinance: Value is our Lender’s opinion of the appraised value of real estate for refinances. We have our own review appraisers and principle travel to visit each property.

·       Creative/Flexible

·       Blanket loans; points and fees wrapped into the loan; multiple income sources considered.

·       Due Diligence

o      A deposit of about $5 - $6k is required before due diligence process is begun and is credited against the third party costs of underwriting: fair market value evaluation fee, inspections, site visit, legal costs, escrow, etc.

·       Down Payment:    The fee is due upon signing of the Letter of Intent and Term Sheet and cannot be wrapped into closing costs.

We will consider all types of real estate loans, including:

Land Construction (commercial and residential) Office Retail Commercial Residential (including Section 32)

Industrial Apartments Fix and flips Foreclosure bailout Bridge loans All other real estate secured lending