|
|
Interest
Rates
|
Market Rates |
|
Key Rate Indices As of November 17, 2005* |
|
Prime Rate
|
7.00% |
|
11th
District |
2.97% |
|
5-year U.S.
T-Bills |
4.44% |
|
10-year
U.S. T-Bills |
4.50% |
|
30-year
U.S. T-Bills |
4.69% |
|
12-MAT |
3.33% |
|
1 Year CMT |
4.38% |
|
LIBOR - 3
month. |
4.37% |
|
LIBOR - 6
month. |
4.57% |
|
LIBOR - 1
year |
4.84% |
|
*Rates as of
November 17, 2005. Please contact an
Account Executive for current rates. |
|
Fannie Mae Multi-Family Rates |
|
Fixed Rate*
|
|
Tier 2++ (80%
LTV) |
6.07% |
|
Tier 3++ (65%
LTV) |
5.89% |
|
Tier 4++ (55%
LTV) |
5.69% |
|
Adjustable Rate Mortgage*
|
|
Tier 2+ (77.5%
LTV) |
6.00% |
|
Tier 3+ (65% LTV) |
5.82% |
|
Tier 4+ (55% LTV) |
5.62% |
|
*Rates as of
November 17, 2005. Please contact an Account
Executive for current rates. |
|
Fixed Rate Pricing, Lowest Rate
for Conduits and Life Companies |
|
Property
Type
|
Min. DSCR
|
Max. LTV
|
Typical Spread
|
Typical
Rate
|
Loan
Terms
(yrs)
|
Amort. (yrs)
|
|
Min.-Max. |
Min. - Max.
|
|
Apartments |
1.20 |
80% |
.69-.97 |
5.19%-5.47% |
10 |
30
|
|
Student
Housing |
1.20 |
80% |
.68- 1.03 |
5.18%-5.53% |
10 |
25
|
|
Mobile Home
Park |
1.20 |
80% |
.79- 1.07 |
5.29%-5.57% |
10 |
30
|
|
Anchored
Retail |
1.20 |
80% |
.83-1.10 |
5.33%-5.60% |
10 |
30
|
|
Shadow Retail |
1.20 |
80% |
.92-1.22 |
5.42%-5.72% |
10 |
30
|
|
Unanchored
Retail |
1.20 |
80% |
.87-1.14 |
5.37%-5.64% |
10 |
25
|
|
Industrial |
1.20 |
80% |
.87-1.16 |
5.37%-5.66% |
10 |
30
|
|
Self-Storage |
1.25 |
75% |
.94-1.28 |
5.44%-5.78% |
10 |
25
|
|
Office |
1.20 |
80% |
.88-1.19 |
5.38%-5.69% |
10 |
30
|
|
Hotels |
1.40 |
69% |
1.32-1.37 |
5.82%-5.87% |
10 |
25
|
|
Medical
Office |
1.20 |
80% |
.91-1.24 |
5.48%-5.74% |
10 |
30
|
|
Rates as of
November 17, 2005. Please contact an
Account Executive for current rates.
Typical spreads are over comparable Treasury rates, and are
subject to change without notice. |
|
Credit Tenant Pricing |
|
Full Leverage*
|
|
Minimum DCR |
1.015% |
|
Maximum LTV |
100% |
|
Interest
Rates |
6.50% |
|
Lowest Rate*
|
|
Minimum DCR |
1.30% |
|
Maximum LTV |
65% |
|
Interest
Rates |
5.40% - 6.00% |
|
*Rates as of
November 17, 2005. Please contact an
Account
Executive for current rates. |
Non
Conduit Multi-family Loans
Apartments – Loan Size: $500,000 - $20,000,000
|
|
Adjustable Rate Loan Programs
|
|
PROGRAM
|
INDEX
|
INDEX
RATE
|
ADJUSTABLE
MARGIN
|
ADJUSTABLE RATE
|
| 6
Month Adjustable |
12 MTA
|
3.16%
|
2.35%
|
5.51%
|
| 6
Month Adjustable |
6 Month
LIBOR
|
4.38%
|
1.80%
|
6.18%
|
| 6
Month Adjustable |
11 Dist.
COF
|
2.87%
|
2.40%
|
6.22%
|
|
Fixed Rate Loan Programs
|
|
PROGRAM
|
INDEX
|
INDEX
RATE
|
FIXED
RATE
MARGIN*
|
90-DAY
RATE**
|
| 3 Year
Fixed |
3 Yr
Treasury CMT
|
4.23%
|
1.80%
|
6.03%
|
| 5 Year
Fixed |
5 Yr
Treasury CMT
|
4.26%
|
1.75%
|
6.01%
|
| 7 Year
Fixed |
7 Yr
Treasury CMT
|
4.31%
|
1.70%
|
6.01%
|
| 10
Year Fixed |
10 Yr
Treasury CMT
|
4.39%
|
1.65%
|
6.04%
|
| 15
Year Fixed |
10 Yr
Treasury CMT
|
4.39%
|
1.65%
|
6.04%
|
|
* Pricing
Note: Margins and rates as show are at Par; may be increased based on
overall loan quality. |
|
Amortization Term: |
30 years |
|
Loan Term: |
15 years |
|
Floor: |
1% below
initial interest rate, but no less than 3.50% "NO FLOOR ON LIBOR". |
|
Ceiling: |
5% above
initial interest rate, but no less than 10.00% |
|
Loan To Value: |
80% maximum |
|
Debt Service Coverage: |
1.15:1
minimum |
|
Recourse: |
Non-recourse; subject to standard carve-outs |
|
Impounds: |
Tax impound
required |
|
Processing Fee: |
$500 |
|
Legal Costs: |
$1,000;
paid at closing |
|
Other Costs: |
Appraisal,
Environmental (if required), Title and Closing Costs |
|
Prepayment Fee: |
Adjustable:
2%,1%, none thereafter. Fixed: Stepped Rate Prepay for fixed rate
period. |
|
|
Program
Options:
- ARM to Fixed
Rate Conversion Option Available during first 3 years
- Rate Lock
Available on fixed rate programs. Loans under $750,000 Available.
|
|
Rates as
of: October 25, 2005
|
Non Conduit
Commercial Real Estate Loans
Office Buildings, Retail Center, R&D & Industrial– Loan Size:
$500,000 - $20,000,000
|
|
Adjustable Rate Loan Programs
|
|
PROGRAM
|
INDEX
|
INDEX
RATE
|
ADJUSTABLE MARGIN
|
ADJUSTABLE RATE
|
| 6
Month Adjustable |
12 MTA
|
3.16%
|
2.60%
|
5.76%
|
| 6
Month Adjustable |
6 Month
LIBOR
|
4.38%
|
1.95%
|
6.33%
|
| 6
Month Adjustable |
11 Dist.
COF
|
2.87%
|
2.65%
|
6.47%
|
|
Fixed Rate Loan Programs
|
|
PROGRAM
|
INDEX
|
INDEX
RATE
|
FIXED
RATE
MARGIN*
|
90-DAY
RATE**
|
| 3 Year
Fixed |
3 Yr
Treasury CMT
|
4.23%
|
2.00%
|
6.23%
|
| 5 Year
Fixed |
5 Yr
Treasury CMT
|
4.26%
|
1.95%
|
6.21%
|
| 7 Year
Fixed |
7 Yr
Treasury CMT
|
4.31%
|
1.90%
|
6.21%
|
| 10
Year Fixed |
10 Yr
Treasury CMT
|
4.39%
|
1.85%
|
6.24%
|
|
* Pricing
Note: Margins and rates as shown are at Par; may be increased based
on overall loan quality. |
|
Amortization Term: |
25 years |
|
Loan Term: |
10 years |
|
Floor: |
1% below
initial interest rate, but no less than 4.00%, "NO FLOOR ON
LIBOR". |
|
Ceiling: |
5% above
initial interest rate, but no less than 10.50% |
|
Loan To Value: |
75% maximum |
|
Debt Service Coverage: |
1.30:1
minimum |
|
Recourse: |
Non-Recourse available |
|
Impounds: |
Tax impound
required |
|
Processing Fee: |
$500 |
|
Legal Costs: |
$2,500;
paid at closing |
|
Other Costs: |
Appraisal,
Environmental (if required), Title and Closing Costs |
|
Prepayment Fee: |
Adjustable
Rate Loans: 2%,1%, none thereafter. Fixed:
Stepped Rate Prepay for fixed rate period. |
|
Program Options:
- ARM to Fixed
Rate Conversion Option Available during first 3 years
- Rate Lock
Available on fixed rate programs. Loans under $750,000 Available
|
|
Rates as
of: October 25, 2005
|
|
|
