| Investment
Property
Loan Program |
| Purpose: |
Acquisition
and
refinance of
income
producing
property |
| Property
Types: |
Multi-family
residential,
industrial,
office and
retail |
| Loan
Amount: |
Up
to
$2,500,000 |
| Interest
Rate: |
| Variable |
LIBOR
+
Spread |
| Fixed |
7
year
swap
+
spread
Rate
indexes
(LIBOR
and
Swap)
are
available
at
www.federalreserve.com |
|
| Term: |
Up
to 30 years,
fully
amortizing |
| Prepayment
Penalty: |
Lockout
in years 1
and 2, 5% in
year 3
declining to
2% in year
6, declining
to 1% in
year 7, 1%
there after
| |
| Fee: |
Minimum
Commitment
fee of 1%
| |
| Collateral
Position: |
First
mortgage on
real estate
| |
| Recourse: |
Adequate
repayment
ability must
be
demonstrated
historically
or on a
detailed
projection
must be
provided.
| |
| LTV: |
Maximum
80% for
multi-family
residential
properties
Maximum 75%
for
industrial,
office, and
retail
properti
| |
| Debt
Service
Ratio: |
Minimum
1.25x based
on net
sustainable
cash flow
| |
| Geographic
Reach: |
Nationwide
| |
| Financial
Data: |
| Property: |
Two
years
of
operating
statements;
rent
roll
| |
| Personal: |
Financial
statements
of
owners
with
20%
or
more
ownership
| |
|
| Third
Party
Reports: |
Appraisals
and
Environmental
Structural
Engineering
Report
| |
| Summary: |
Investment
Property
Loan is
specially
designed for
the small
investor in
income
producing
property.
Purchase or
refinance,
cash out OK.
| |
|
We encourage
you to apply
online for a
quick
pre-qualification
through our Get
A Loan
page.
|
|
Go
back to the Products
page.
|
