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Eligible
Properties: The new construction or the
substantial renovation of any property type.
-
Loan Sizes:
$1million +
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Loan
Pricing: Margin floating over Prime or LIBOR
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Minimum DSCR:
Not Applicable
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Maximum Loan
to Cost: 75%
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Maximum Loan
to Value: 65%
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Reserve
Accounts: For interest payments, hard and soft
costs, and other project related costs.
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Recourse:
Recourse, partial, non-recourse with standard
carve-outs.
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Prepayment:
Open to prepayment
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Loan Fees:
$10,000 - $15,000 to cover lenders loan processing and
closing costs. Unused portion generally refunded to
borrower.
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Origination
Fee: Typically 1% of Loan Amount
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Closing
Costs: Borrower is required to pay all third-party
due diligence and closing costs.
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Third Party
Reports: Phase I, Property Condition Report (as
applicable), Seismic (as applicable), MAI Appraisal.
If you
require additional information, or would like to speak
to one of our commercial financing specialists, please call
us at 888.488.3807 or
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