Multi-Family Properties
Eligible Property Types...............Multi-family properties only, with minimum of five units.
Minimum Loan Amount................$500,000
Maximum Loan Amount...............Dependant on plan
Recourse.....................................Dependant on plan-recourse and non recourse available
Interest Rate Type......................Fixed
Loan Terms.................................up to10-years fixed, then annual adjustable
Amortization................................25-30-year
Debt Service Coverage...............1.25x
Loan-To Value.............................Acquisition: Lesser of 85% purchase price or 80% of appraised value….Refinance 80%
Preliminary Information needed:
1. Detailed operating statements for the past three calendar years
2. Year-to-date operation statements
3 3. Current Rent Roll
4. Personal Tax Returns for three years
5. Personal Financial Statement
6. If available: recent appraisal, engineering or
environmental reports, site plans, pictures or any
additional information on the property.
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