Loan Product Specifications
|
Owner Occupied
Full Doc & Stated Income
|
Investor
Full Doc & Low Doc
|
Special Use | Hospitality | Mixed Use | Multi-Family | |
| Max Loan Amount | $8,000,000 | $15,000,000 | $6,000,000 | $8,000,000 | $5,000,000 | $15,000,000 |
| Max LTV |
80% Multi Use
70% Special Use |
80% (large balance)
75% (small balance) |
70% | Up to 75% | 70% | 92.5% |
| Max CLTV | 85% | 85% | 80% | 85% | 80% | 92.5% |
| * Max Amort |
30 yrs (large balance)
25 yrs (small balance) |
30 yrs (large balance)
25 yrs (small balance) |
25 yrs | 25 yrs | 25 yrs | 35 yrs |
| Minimum Credit | 600 | 600 | 600 | 600 | 600 | 600 |
| Minimum Injection | 10% | 15% | 20% | 15% | 20% | 7.5% |
| Minimum DSC | 1.20X | 1.20X | 1.30X | 1.30X | 1.30X | 1.20X |
| Experience Req | Prior management and ownership preferred | Previous ownership preferred | Prior management or ownership preferred | Prior hotel management or ownership required | Prior management or ownership preferred | Prior multifamily management and ownership preferred |
PRODUCT NOTES
* Remaining economic life must be 5 years > the loan amount.
** Borrower may elect for an alternate declining prepay of 5%, 4%, 3%, 2%, 1% for a one point fee or add on to rate.
* Remaining economic life must be 5 years > the loan amount.
** Borrower may elect for an alternate declining prepay of 5%, 4%, 3%, 2%, 1% for a one point fee or add on to rate.
- Downward revisions in LTV can occur based on property condition, location, credit, cash flow, and other mitigating factors.
- Product guidelines are subject to change. For a detailed analysis of your loan request please consult with your account representative.
- CLTV would be defined as either a seller held note or a SBA second.
FEATURES
- No pre-pays.
- Interest-only loans available.
- Loan amounts from $250,000 to $15,000,000+.
- Lending nationwide.