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[ Standard Program ] [ Small Multifamily Loan Program ] [ Small Commercial Loan Program ] [ New York Area Properties ] [ Non-Traditional Financing ]
| Eligible Property Types |
Office, Retail and Industrial |
| Minimum Loan Amount |
$500,000 |
| Maximum Loan Amount |
$2,500,000 |
| Recourse |
| None, except standard carve-outs (recourse loans available for
lower spread) |
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| Interest Rate Type |
Fixed |
| Loan Terms |
7-20 Years |
| Amortization Terms |
20-30 Years |
| Minimum DSCR |
1.25x |
| Loan-to-Value |
| Refinance: 75% |
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Acquisition: Lesser of 80% of purchase price or 75% of appraised value |
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| General Spreads over Treasuries |
| Due to volatility in the mortgage-backed securities industry,
spreads on most asset types are subject to change and are deal specific.
Please call for quotes.
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| Loan Processing Expenses |
| Approximately $8,500, which covers the Appraisal, Engineering/Environmental, Legal, Processing,
etc. |
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| Timing |
| Initial loan quotes within 24-48 hours |
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Commitment within 7-10 days of third party reports |
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Closing within 30 days of executed Commitment Letter |
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| Financing Fees |
1.0% - 2.0% of the gross loan amount |
| Preliminary Information Needed |
1.
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Detailed operating statements for the past three
calendar years (1998-2000) |
| 2. |
Year-to-date 2001 operating statements |
| 3. |
Current rent roll |
4.
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If available: recent appraisals, engineering or environmental
reports, site plans, pictures, or any additional information on the property |
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Suite 402