Multifamily Greater than $5 mm

Multifamily Greater than $5 mm

Small Balance Loans: $1 mm - $5 mm

Small Balance Loans: $1 mm - $5 mm


Stabilized Multifamily Small Balance Bridge / Value-Add

Loan Proceeds $5 - $50 million Loan Proceeds Up To $7.5 million Loan Proceeds $5 - $50 million
MAXIMUM LTV Up to 80% Up to 80% Up to 75%
AMORTIZATION Up to 30 years Up to 30 years NA
INTEREST ONLY Full term and partial IO available on a case by case basis Full term and partial IO available on a case by case basis Generally Interest Only
LOAN AMOUNTS $5 million - $50 million $1 million - $7.5 million $5 million - $50 million
LOAN TERMS Fixed Rate: 5-, 7-, 10- or 15-year balloon 

Fully Amortizing Fixed Rate: 20-, 25- and 30 year Fixed Rate: 5-, 7-, or 10-year

Hybrid ARM: 5/1, 7/1, or 10/1 Hybrid ARM w/ 20 year Maturity 1 yr – 5 yrs. Floating or Fixed.
OCCUPANCY 90% or more 90% or more 90% or more
ELIGIBLE PROPERTIES 5+ unit multifamily 5+ unit multifamily 5+ unit multifamily
LOAN PURPOSE Acquisition or Refinance (Cash Out Available) Acquisition or Refinance (Cash Out Available) Acquisition / Rehab / Refinance
DEBT SERVICE COVERAGE 1.25x Minimum 1.20x – 1.40x depending on market tier NA
RECOURSE Recourse & Non-recourse options Recourse & Non-recourse options Recourse & Non-recourse options
SPONSOR FINANCIALS Net worth equal to or exceeding loan amount Liquidity equal to or greater than 9 months P&I prior to closing Net worth equal to or exceeding loan amount Liquidity equal to or greater than 9 months P&I prior to closing Net worth equal to or exceeding loan amount Liquidity equal to or greater than 9 months P&I prior to closing
RESERVES Varies (generally $250 - $400 per door) Varies (generally $250 - $400 per door) NA
CREDIT Varies Minimum FICO score of 650 Varies
TAX & INSURANCE ESCROWS
Real estate tax escrow not required for transactions with 65% LTV or less Insurance escrows deferred Varies
INITIAL DOCUMENTATION Current Rent Roll & 2 years Operating Statements Current Rent Roll & 2 years Operating Statements Business Plan, Rent Roll and Operating Statements (as applicable)
RATE LOCK Yes Yes Yes