| |
|
| Loan Amount |
$100,000 to $2,600,000
|
| Property Types |
Retail (anchored, shadow anchored and unanchored), Industrial,
Office, and Self-Storage
|
| Term |
12-Months, converted to 10-Year Mini-Permanent loan
|
| Amorization |
25-years
|
| Interest Rates |
Variable, converted to a fixed rate
|
| Loan-to-Value |
Generally not to exceed 75%
|
| Prepayment |
Lockout period as short as 24 to 36 months. Any prepayment
penalty will be based upon the remaining term of the loan.
|
| Assumable |
Subject to lender's approval; 1% assumption fee
|
| Minimum Debt |
Typically 1.25x or > Office/Indust.
|
| Service Coverage |
Typically 1.30x or >
|
| Coverage Ratio |
Typically 1.40x or >Retail/Specific
|
|
| Closing |
45 to 60 days from executed application assuming timely
receipt from borrower of all information requested.
|
| Early Rate Lock |
Available for no fee following executed application and
receipt of 2% refundable deposit.
|
