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Small Loan Program
Loan Amount
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Minimum: $1,000,000 Maximum: 3,000 |
| Recourse |
None Except Standard Carve-Outs |
| Interest Rate Type |
Fixed |
| Property Types |
Multifamily (5 units or more)
Retail (anchored and unanchored)
Industrial |
| Loan Terms |
7-20 Years |
| Amortization |
20-30 Years |
| Loan to Value |
Typically 75% (80% available on purchases) |
| General Spreads Over Treasury (with a 10/25 loan term) |
Multifamily
Retail (less than $1,000,000)
Retail (more than $1,000,000)
Industrial/Office (less than $1 million)
Industrial/Office (more than $1 million) |
225-275 Basic Points
275 Basic Points
225 Basic Points
250-290 Basic Points
250 Basic Points |
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| Terms |
24 - 48 Hours Initial Loan Quotes |
| Financing Fees |
2% - 3% Gross Loan Amount |
| Preliminary Information Needed |
*Detailed Operating Statement for the past 3 calendar years
*PLUS year-to-date 1998 Operating Statements
*Current Rent Roll
*If Available: Recent appraisals, engineering reports, site plans, pictures, or any additional information on the property.
*Hotels only: 3 years of monthly ADR and occupancy information, PLUS year-to-date 1998 |
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