Loan Amount:

Minimum of $500,000; Maximum of $3 Million (up to $5 Million in certain Eligible MSAs)

Recourse:

Non-recourse lending is available for any Small Mortgage Loans in the following circumstances: 

In Eligible MSAs, any loan equal to or greater than $750,000 when the minimum FICO requirement is satisfied.

In Nationwide markets, any Tier 3 or Tier 4 loan equal to or greater than $750,000 when the minimum FICO requirement is satisfied.

Assumability:

With consent of Lender and payment of a 1% transfer fee.

Standard Loan Term:

Fixed Rate Loans: 5, 7, 9+1, 10, 15, 18, 25 & 30 years

Adjustable Rate Loans: 7 or 10 years indexed on 1 or 3 month LIBOR

Amortization:

Up to 30 years

Interest Rate:

Changes daily. Please contact your local Alliant Originator for today's rates.

Floor Rates:

Tier 5-year loan term 7-year loan term 10-year loan term

 II       6.25%               6.00%                   5.50%

 III       6.00%               5.75%                 No Floor

 IV     No Floor               No Floor                 No Floor

Pricing Categories:

(Refer to Rate Sheet)

Tier Min DSC Max LTV

 II    1.25   80%*

 III    1.35   65%

 IV    1.55   55%

*Maximum LTV is 75% for 5-year term and for Tier 2 Cash Out Refinances.

Prepayment:

Yield Maintenance and Alternative Defeasance. Other terms and conditions are available.

Standard Yield Maintenance: 

4.5 years for a 5 year term loan
6.5 years for a 7 year term loan
9.5 years for a 10 year term loan
10 years for 15, 18, 25 or 30 year term loans
(Alternative yield maintenance periods are available.) 

Reserves:

Taxes and insurance. Replacement reserves may be waived for properties and borrowers meeting specific requirements. 

Application Deposit:

$9,500 (Includes appraisal, environmental assessment and physical needs assessment costs.)

Lender's Legal Fee:

$2,000

Survey:

Required for FL, NM, TX, NY & OH.  Other States to be determined by lender.

Origination Fee: 

Greater of 1% or $10,000, payable at Closing

Commitment Fee:

2% (Refundable)

Occupancy: 

10 or More Units: Minimum of 90% for 90 continuous days. 

Less than 10 Units: Average occupancy of at least 90% for the preceding 12-month period. No more than one (1) unit may be vacant at time of closing.

Supplemental Mortgages:

Available (Beginning 12 months after loan closing)

Extended Rate Lock:

Available 

Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. (3/03/10)