| 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-Use Properties |
| Loan Amount: |
Up to $14,000,000 |
| Loan Term: |
Up to 25 Years |
| Amortization: |
Up to 25 Years |
| Loan to Value: |
Up to 90% of FIRREA Appraised Value. Minimum 1.20x DSCR on in-place cash flow |
| DSCR : |
Minimum 1.20x 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 |
| Borrowing Entity: |
Operating entity that will occupy the commercial real estate |
| Recourse: |
Full-Recourse |
| Assumability: |
Yes in case of building sale for $1000 assumption fee |
| Prepayment: |
5-Year Prepayment Penalties |
