|
Conduits and Life Companies |
|
Product Description: |
Loans for refinance, purchase or construction take-out of quality
well located properties nationwide. Big advantage to these loans are
Low fixed rates. |
|
Minimum Loan Amount: |
$2.5
million |
|
Maximum Loan-to-Value: |
80% |
|
Minimum Debt Service Coverage: |
1.25 |
|
Loan Terms: |
10
years (7 & 15 year terms available) |
|
Loan Fee |
1% |
|
Amortization: |
20 -
30 years based on property age & condition |
|
Rates: |
Fixed Rate Pricing by
Property Type |
|
Prepayment: |
5
year lockout followed by yield maintenance or defeasance |
|
Secondary Financing: |
Generally not permitted |
|
Assumability: |
Allowed with approval for 1% fee |
|
Borrower: |
Single-asset entity |
|
Early Rate Lock: |
Available for no fee following preliminary approval, executed
application and receipt of 2% refundable deposit. |
|
Recourse: |
Loans are non-recourse with standard carve outs |
|
Lending Area: |
Arizona, California and Nevada |
