Non-Coterminous Requirements:

1) Alliant must service any existing prior mortgages

2) No supplemental mortgage allowed during first year of the loan term of the existing prior mortgages

3) Term and yield maintenance period of supplemental mortgage must extend at least two years beyond those of any prior mortgages

4) Existing prior mortgages must have at least 5 years remaining

5) First and supplemental mortgages must be cross defaulted 

6) The maximum number of supplemental liens allowed is one (1) except in connection with a sale to an unrelated new Borrower

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, 15, 18, 25 & 30 years

Amortization:

Up to 30 years

Interest Rate:

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

Pricing Categories:
(Refer to Rate Sheet)

Tier Min Combined DSC Max Combined LTV

 II           1.35                    70%*

 III           1.35                  65%

 IV           1.55                  55%

*Maximum LTV is 65% for Non-Coterminous 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.)

Yield Maintenance

The yield maintenance period expiration must be at least two years longer than that of any prior mortgages.

Reserves:

Taxes and insurance. Replacement Reserve agreement associated with the supplemental mortgage will be required. Collection of Replacement Reserves will be waived for supplemental mortgage (Replacement Reserves will continue to be collected on the first mortgage).

Application Deposit:

$9,500 (Includes new appraisal, credit reports, UCC searches)

Lender's Legal Fee:

$3,100

Survey:

Not required

Origination Fee:

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

Commitment Fee:

2% (Refundable)

Occupancy:

Minimum of 85% for 90 continuous days

Note: