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Maximum Loan Amount:
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$3 million ($5 million in selected counties)
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Minimum DSC:
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1.25X
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Maximum LTV:
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75% - purchase or refinance
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Maximum Amortization:
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30 years
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Loan Terms:
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Terms (5, 7, 10, 15, 25 and 30)
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Prepayment Terms:
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Yield Maintenance
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Mixed Use:
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Up to 20% of the total building footage can be commercial space, with up to 20% of the income derived from the commercial space..
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Minimum FICO Score:
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680 minimum for all key principals.
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Minimum Liquidity:
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Six (6) months of monthly principal and interest payments.
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Minimum Net Worth:
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Equal to the proposed loan amount.
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Underwriting Floors:
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Tier 2 Tier 3 Tier 4
5-year 7.25% 6.50% None
7-year 6.50% 5.75% None
10-year 5.75% None None
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Acceptable Markets:
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Major urban centers nationally
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Appraisal Fee:
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None in major urban areas
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Pricing:
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Rates change daily. Call a local originator for current pricing.
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Application Fee:
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$4,500 (Refundable at closing)
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Appraisal Fee:
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None
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Inspection Fee:
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$750
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Processing Fee:
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Greater of $1,500 or 10 bps.
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Origination Fee:
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Greater of 1% or $2,500; Par pricing available.
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Document Fee:
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$550
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Rate Lock Deposit:
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One percent (1%) for a 30 day rate lock.
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Supplemental Financing:
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Available one (1) year after loan closing.
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3rd Party Reports:
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- Appraisal
- Alliant Property Inspection
- Environmental Screening
- Seismic (if masonry or tuck-under parking
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