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income property > B and C Property
Loans
B & C Property Loans
Several programs exist to assist with properties commonly referred to a
“B or C”, those properties not classified as an “A” due to age,
location, type construction, etc. Rates are very competitive and the
underwriting is often much easier.
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Product Description |
B & C Property Loans for purchase, refinance cash-out or minor
rehab. |
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Minimum Loan Amount |
$1,000,000 |
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Maximum Loan-to-Value |
75%
commercial; 80% apartments |
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Minimum Debt Service Coverage |
1.20 |
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Loan Terms |
10
years; 7 & 15/15 terms available |
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Loan Fee |
1% |
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Amortization |
25 –
30 years based on age & condition |
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Rates |
Multifamily Interest Rates
Commercial Interest Rates |
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Prepayment |
Declining percentage over 3 to 5 years |
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Secondary Financing |
Generally permitted with Lender approval |
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Assumability |
Allowed with approval for 1% fee |
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Borrower |
Any
Legal Structure |
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Recourse |
Generally required but may be negotiable |
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Lending Area |
Arizona, California and Nevada |
Financial Advantage has extensive resources to structure your financing
requirements. The best method is to contact an
Account Executive for details.
Please contact an
Account Executive
Rate and
terms subject to change without notice
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