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|
 | MINIMUM LOAN:
$3,000,000.00. |
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| LOAN TERM:
12 to 36 Months. Extension options available. |
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| AMORTIZATION:
Interest only or fixed principal paydowns. |
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| MINIMUM DSCR:
1.10x "As Is" - 1.20x - 1.25x at Exit. |
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| . |
| MAXIMUM LTV:
90% "As Is" - 75% - 80% at Exit. |
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| INTEREST RATE:
Floating rate over LIBOR index. Spread varies based
on risk and terms. |
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| ELIGIBLE PROPERTY TYPES:
Apartments, Office, Retail, Hospitality, Industrial
and others. |
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| ELIGIBLE BORROWER: Single Asset Entity. |
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| . |
| SPONSORSHIP:
Good overall credit with sufficient liquidity and demonstrated
experience completing similar projects. |
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.
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| TAX AND INSURANCE ESCROWS:
Monthly Deposits Required. |
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| . |
| REPLACEMENT RESERVES:
Monthly deposits
Required. |
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| SECURITY:
First mortgage lien on subject property. If
applicable, additional credit enhancement (recourse, other collateral,
letter of credit or other guarantees) to be determined. |
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| . |
| REQUIRED REPORTS: MAI
Appraisal, Property Condition Assessment, Phase I and others if applicable. |
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| . |
| SUBORDINATE FINANCING:
Mezzanine if provided by CFG or an approved third
party lender. |
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| SUPPLEMENTAL LOANS:
Eligible for secondary financing after 12 months
subject to approval. |
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| . |
| CLOSING COSTS:
Deposit required for third party reports, processing
costs, title and legal.
Travel and other standard costs if an when applicable. |
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| . |
| ORIGINATION FEE: Minimum
1% to 3%. (In Addition to Closing Costs). |
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| . |
| GOOD FAITH
DEPOSIT: Case by Case Basis. Applied to Origination Fee post closing, less
legal and related costs. |
|
| MINIMUM
LOAN:
$1,000,000.00 |
|
 |
| LOAN
TERM: 18
Year Balloon or fully amortizing up to 30
Years. |
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| AMORTIZATION:
Up to 30 Years. |
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| MINIMUM
DSCR: 1.15x. |
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| MAXIMUM
LTV: 90%. |
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| INTEREST
RATE: Fixed
- Adjustable rate available proceed off the
one month or three month LIBOR. Convertible
and Non-convertible options available. |
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| ELIGIBLE
PROPERTY TYPES:
Multifamily - minimum five
units. |
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| ELIGIBLE
BORROWER:
Single Asset Entity. |
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| OCCUPANCY
REQUIREMENT:
90% Physical Occupancy for 60
days at application 90 days at commitment. |
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|
| TAX
AND INSURANCE ESCROWS:
Monthly Deposits Required. May be waived if
certain criteria are met. |
|
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| REPLACEMENT
RESERVES:
Underwritten at a minimum of
$150 per unit per annum - Monthly deposits may
be waived if certain criteria are met. |
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| RECOURSE:
In Most Cases Non-Recourse With
Standard Exceptions For Fraud and
Misrepresentation. |
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| COMMERCIAL
SPACE: Maximum
20% of net rentable area and maximum 20% of
effective gross income. |
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| REQUIRED
REPORTS: Narrative
MAI Appraisal, Property Conditions Assessment
and Phase I. Others if applicable. |
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| PREPAYMENT:
Defeasance or Yield
Maintenance. |
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| ASSUMABLE:
Subject to Approval and Fee. |
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| SUBORDINATE
FINANCING:
Allowed subject to approval. |
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| SUPPLEMENTAL
LOANS: Eligible
for secondary financing after 12 months. |
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| PRICING:
Tiered Pricing Matrix. More
favorable terms available for higher DSC and
lower LTV. |
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| RATE
LOCK: Standard
10 day rate lock period. Extended rate lock
options available. |
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| CLOSING
COSTS: Deposit
required for third party reports, processing
costs, title and legal. Travel and other
standard costs if an when applicable. |
|
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| ORIGINATION
FEE: From
PAR to 3%. (In Addition to Closing Costs). |
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| Above terms and conditions are subject to
change at any time without prior notice. Other terms and conditions apply.
If you have any questions, please don't hesitate to
contact us. Thank you. |
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