Loan Amount:

Minimum of $1,000,000

Liability:

Non-recourse

Assumability:

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

Standard Loan Term:

5, 7, 9, 10 or 15 -year fixed rate mortgage with a 1-year extension at no cost to the Borrower.

Adjustable Rate Extension Period:

A 1-year extension period allows the Borrower additional time to secure refinancing.  The loan will float at a rate equal to 300 basis points over the 1-month LIBOR

Amortization:

Up to 30 years

Interest Rate:

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

Pricing Categories:
(Refer to Rate Sheet)

Tier Min DSC Combined 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

Standard Yield Maintenance:

5 to 15-year Yield Maintenance Period (during the Fixed-Rate period).  No prepayment premium will be assessed if the loan is prepaid at any time during the 1-year extension period.

Reserves:

Taxes and Insurance
Replacement Reserves (May be waived for Tier III & IV loans)

Application Deposit:

$13,500 (Includes appraisal, environmental assessment and physical needs assessment costs.)

Lender's Legal Fee:

$4,750

Survey:

Required (Except for AZ, CA, NV, OR and WA)

Origination Fee:

Greater of 1% or $20,000, payable at Closing

Commitment Fee:

2% (Refundable)

Occupancy:

Minimum of 85% for 90 continuous days

Supplemental Mortgages:

Available (Beginning 12 months after loan closing – must also utilize the Fixed + One Commitment option and may not be placed during the Adjustable Rate extension period)

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)