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Loan Amounts:

$1,000,000 - $8,500,000

Additional Proceeds:

This program allows the borrower to increase the loan amount, with only the "new money" at the then-market rate, as the property increases in value.  This is not a second mortgage, but merely an "add-on" to the first mortgage.

Qualifications:

Existing, stabilized, income-producing properties in primary and some secondary real estate markets.

Property Types:

Multi-Family Apartments and Manufactured Housing Properties

Term:

10-year term.

Index:

10-Year U.S. Treasury.

Minimum Coupon

None (No Floor)

Spread:

Call for pricing

Amortization:

25 to 30-Years

Loan-to-Value:

Refinance: up to 80% LTV

Acquisition: Lesser of 80% Loan to Purchase price or 80% of Appraised value.

Minimum DSCR:

Minimum 1.25x

Typical Closing:

As Few as 20 Business Days from receipt of Borrower/Principal Package and checklist documentation.

None

Recourse:

Non-recourse except for standard carve-outs for "bad boy" acts and environmental.

Expense Deposit

$15,000 to be paid at time of Application to cover costs of third party reports and estimate $5,000 legal/closing fee.

Underwriting Fee

A non-refundable Underwriting fee of $3,000 per Property payable with the execution of the Application.

Rate Lock

2% Rate Lock Deposit, payable at Commitment.  The deposit refunded at the close, but is forfeited if the loan does not close through no fault of Bond Street.

Required Escrows:

Monthly Escrows for Property taxes, property insurance and replacement reserves.