| $500,000 to $1 Million |
- Eligible Property Types: Multifamily 5+ Units, Mixed-Use, Office & Retail
- Up to 100% LTV *
- 600 FICO Required
- Loan Purpose: Rate/Term Refinance, Cash-Out Refinance or Purchase
- Loan Types: 6-Month Adjustable; 2, 3 and 7-Year Fixed, Adjustable, Declining Fixed Rate & Interest Only
- Terms: 15-, 20- and 30-year Fully Amortizing Loan Are Available On All Property Types
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$500,000 to $3 Million |
- Eligible Property Types:
- Max 80% LTV, 30 due in 30, min 1.20 DCR
- Multifamily 5+ Units (contiguous properties allowed)
- Mobile Home Parks
- Mixed-Use (minimum one apartment with one commercial/retail)
- Max 75% LTV, 25 due in 25, min 1.25 DCR
- Office (owner occupied and non-owner occupied)
- Office & Medical Condos
- Retail
- Light Industrial
- 600 FICO Required
- Up to 10% Seller Carry Back Allowed
- Purchase or Refinance Cash Out (no seasoning required)
- Stated Income
- No Foreclosures On Credit Allowed
- Discharged Bankruptcy Case By Case (with explanation)
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| $500,000 to $5 Million |
- Eligible Property Types:
- Max 80% LTV, 30 due in 30, min 1.20 DCR
- Multifamily 5+ Units (contiguous properties allowed)
- Mobile Home Parks
- Mixed-Use (minimum one apartment with one commercial/retail)
- Max 75% LTV, 25 due in 25, min 1.25 DCR
- Office (owner occupied and non-owner occupied)
- Office & Medical Condos
- Retail
- Light Industrial
- 600 FICO Required
- Up to 10% Seller Carry Back Allowed
- Purchase or Refinance Cash Out (no seasoning required)
- Stated Income
- No Foreclosures On Credit Allowed
- Discharged Bankruptcy Case By Case (with explanation)
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$1 Million to $50 Million |
- Eligible Property Types: Multifamily 5+ Units, Mixed use, Mobile Home Parks, Office, Retail, Light Industrial & Self-Storage. Minimum 20 Tenants Per Property Except Owner Occupied 1-Unit.
- LTV: Refinance - Up to 75% LTV; Purchase - Up to 80% LTV
- Loan Purpose: Rate/Term Refinance, Cash-Out Refinance or Purchase
- DCR: Minimum 1.30 to 1.35 Depending On Property Type & Condition (minimum B+ grade).
- Loan Types: 6-Month Adjustable; 2, 3 and 7-Year Fixed, Adjustable, Declining Fixed Rate & Interest Only
- Loan Term: 5, 7 & 10-Year Balloon & 15-Year Self-Amortizing
- Amortization: 15, 25, 30-Year Depending on Property Type
- Escrows: Taxes & Insurance Required
- Recourse: Non-Recourse Except Standard Carve-Outs
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* Although financing is available for up to 100% LTV, the limiting factor is the Debt Coverage Ratio (DCR). DCR is a ratio of the net income (before paying the mortgage payment) versus the mortgage payment. DCR typically runs from 1.15 to 1.35 although there are situations where a DCR can be as low as 0.80. This means that the net income of the property must cover the mortgage payment by 115% to 135% after expenses. The lender factors in normal expenses, property management (even though you will be, or are already, managing the property), vacancy, property taxes and insurance.
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Commercial loan programs are not available in all jurisdictions.
Commercial loan programs and terms are subject to change without notice.
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