| Loan Purpose: |
Permanent first mortgage for acquisition and refinance of multifamily properties |
| Loan Amount: |
$250,000 minimum
$1,000,000 maximum |
| Loan Term: |
3 year, 5 year, 7 year, and 10 years |
| Amortization: |
30 years |
| Loan to value: |
Up to 80% for purchase
Up to 75% for refinance |
| Subordinate Financing: |
Not allowed |
| DSCR: |
As low as 1.00:1 |
| Prepayment: |
Declining prepayment penalty through the fixed rate |
| Funding: |
45 days within receipt of complete application |
| Application Requirements: |
1003 Application
Loan Submission Form
Rent Roll
Year to date and last 3 years property operating statements
Color photos of property with street scenes |
| Credit Score: |
600 minimum FICO |
| Lending area: |
Nationwide, however minimum population of 25,000 within a 30 mile radius |
