Eligible Locations: |
MSA’s within the U.S. and its territories exhibiting strong economic and property-type specific fundamentals |
Eligible Use: |
Acquisition and Refinance of Owner-Occupied, Hospitality, Multi-Use and Special Purpose Properties |
Conventional Loan Amount: |
Up to $5,000,000 |
Conventional Loan Term: |
10 Years |
Amortization: |
Up to 30 Years |
Loan to Value: |
Up to 70% of FIRREA Appraised Value. |
DSCR: |
Minimum 1.50x DSCR on in-place cash flow |
Processing Fee & Expense Deposit: |
$1,500 Processing Fee. $15,000 Expense Deposit |
Reserves: |
Tax and Insurance |
Sponsor(s): |
Creditworthy individual(s) acceptable to Lender with sufficient liquidity and net worth |
Recourse: |
Full-Recourse |
Prepayment: |
5-Year Prepayment Penalties |