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Refi
Plus
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Eligible
Properties: Existing, multifamily properties with
five or more units and mobile home parks
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Loan Sizes:
$1million +
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Programs:
Fully Adjustable, 3 year, 5 year, 5-10 year Fixed
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Fixed-rate
loan pricing: Rate based on spread over
comparable-term Treasuries or swap curve; Spread based
on property type, property quality, and coverage ratios
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Variable-rate loan pricing: Based on spread over
LIBOR or 12-month Constant Maturity Treasury
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Maximum
Amortization: 25 to 30 years
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Minimum DSCR:
1.20 (Can go lower for high-quality properties.)
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Loan Terms:
3 to 10 years
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Maximum Loan
to Value: 70%
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Recourse:
Recourse, partial, non-recourse with standard
carve-outs.
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Prepayment:
Declining
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Loan Fees:
.5% - 1%
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Processing
Fees: $1,500 - $15,000
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Third Party
Reports: Appraisal, Phase 1 Environmental.
(Additional reports may be required on larger
transactions.)
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Impounds:
May be required for taxes, insurance, and replacement
reserves.
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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