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 | MINIMUM LOAN:
$750,000 to $3,000,000 |
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| LOAN TERM:
Up to 30 Years. |
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| AMORTIZATION: Up to 30
Years. |
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| MINIMUM DSCR:
1.25x. |
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| MAXIMUM LTV:
80%. |
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| INTEREST RATE:
Fixed and Adjustable. |
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| ELIGIBLE PROPERTY TYPES:
Multifamily - minimum five units. |
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| ELIGIBLE BORROWER:
Individuals, Co-tenants and non-single asset
entities acceptable. |
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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:
Non-Recourse if certain criteria is met. Otherwise,
recourse required. |
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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:
1050A Form Appraisal, Reduced Physical Needs
Assessment and Environmental Screen. Others if applicable. |
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| PREPAYMENT:
Defeasance or Yield Maintenance. 5-4-3-2-1
available for ARM only. |
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| ASSUMABLE: Subject to Approval and
Fee. |
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| SUBORDINATE FINANCING:
Not allowed. |
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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: Minimum
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. |
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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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| TO APPLY ONLINE
- CLICK
HERE | BACK TO CONDUIT HOME
PAGE - CLICK HERE |
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