|
Product Description |
Loans for purchase, refinance or rehab |
|
Loan Amounts |
$2
million and up, no maximum |
|
Location |
Arizona, California and Nevada |
|
Property Types |
All commercial property types, and Residential Developments |
|
Loan Terms |
Up
to 24 months; options to extend available |
|
Amortization |
Interest Only, reserve included |
|
Rates |
Prime or Libor based plus low margins |
|
Prepayment Penalty |
None |
|
Loan to Value |
75% maximum loan to stabilized value (80% possible on apartments;
65% on special purpose property) |
|
Loan to Cost |
75% to 90% dependent upon deal quality |
|
Recourse |
Typically required but non-recourse available for substantially
higher |
|
Take Out Financing |
Can be combined with construction loan for seam-less transition |
