Eastern Mortgage Capital
Provide construction-to-permenant development loans and refinance exiting loans on multifamily properties Nationwide.
- Peter Tousignant
Construction Loan | |
| Property Types | Mixed use, Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $120,000,000 |
| Terms | 40 year |
| Lien Position | 1st |
| General Pricing or Guideline info | The following description is a summary of a core lending program offered by Eastern Mortgage Capital. We encourage you to contact us today for specific information and for a more thorough explanation [] Expedited, more efficient processing than other HUD Insured programs with no appraisal or environmental reports required [] Loan balance may be increased to original mortgage balance to cover upgrades/reserves/loan costs, no cash-out allowed [] Term/Amortization may be increased by 12 years, not to exceed original mortgage Term/Amortization [] Low, fixed interest rate, based on market spreads over 10 Year Treasury Yield. [] Non-recourse [] Flexible and negotiable pre-payment terms, NEVER defeasance or yield maintenance [] This is a conventional mortgage, HUD/FHA does not limit rents, tenant income or return on equity [] 1.10 Minimum Debt Service Coverage [] This loan is always assumable [] Moderate Rehab allowed |
| Updated as of | 2023-09-24 |
Long Term Commercial Loan | |
| Property Types | Mixed use, Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $120,000,000 |
| Lien Position | 1st |
| General Pricing or Guideline info | The following description is a summary of a core lending program offered by Eastern Mortgage Capital. We encourage you to contact us today for specific information and for a more thorough explanation []ACQUISITION: Lesser of 85.0% Loan-to-Value* or 85.0% Loan-to Acquisition-Cost*, Seller romissory note allowed [] REFINANCE: Up to 85.0% Loan-to-Value*, 80% with cash-out [] Up to 35- Year Amortization [] Up to 35- Year Term (no balloon) [] No maximum loan amount [] Low, fixed interest rate, based on market spreads over 10 Year Treasury Yield. [] Non-recourse [] Flexible and negotiable pre-payment terms, NEVER defeasance or yield maintenance [] This is a conventional mortgage, HUD/FHA does not limit rents, tenant income or return on equity [] 1.1765 Minimum Debt Service Coverage. More aggressive LTV and DSC available for affordable projects [] This loan is always assumable [] Moderate Rehab allowed [] Value sizing is based on market rents and occupancy, regardless of actual 90 day collections, subsidy, or restrictions. |
| Updated as of | 2023-09-24 |
Long Term Commercial Loan | |
| Property Types | Mixed use, Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $120,000,000 |
| Lien Position | 1st |
| General Pricing or Guideline info | The following description is a summary of a core lending program offered by Eastern Mortgage Capital. We encourage you to contact us today for specific information and for a more thorough explanation [] Expedited, more efficient processing than other HUD Insured programs with no appraisal or environmental reports required [] Loan balance may be increased to original mortgage balance to cover upgrades/reserves/loan costs, no cash-out allowed [] Term/Amortization may be increased by 12 years, not to exceed original mortgage Term/Amortization [] Low, fixed interest rate, based on market spreads over 10 Year Treasury Yield. [] Non-recourse [] Flexible and negotiable pre-payment terms, NEVER defeasance or yield maintenance [] This is a conventional mortgage, HUD/FHA does not limit rents, tenant income or return on equity [] 1.10 Minimum Debt Service Coverage [] This loan is always assumable [] Moderate Rehab allowed |
| Updated as of | 2023-09-24 |
Long Term Commercial Loan | |
| Property Types | Assisted Living, Senior Care - Commercial Property, Skilled Nursing |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $120,000,000 |
| Lien Position | 1st |
| General Pricing or Guideline info | The following description is a summary of a core lending program offered by Eastern Mortgage Capital. We encourage you to contact us today for specific information and for a more thorough explanation [] ACQUISITION: Lesser of 85.0% Loan-to-Value* or 85.0% Loan-to Acquisition-Cost* [] REFINANCE: Up to 85.0% Loan-to-Value* no cash-out allowed [] Up to 35- Year Amortization [] Up to 35- Year Term (no balloon) [] No maximum loan amount [] Low, fixed interest rate, based on market spreads over 10 Year Treasury Yield. [] Non-recourse [] Flexible and negotiable pre-payment terms, NEVER defeasance or yield maintenance [] 1.1765 Minimum Debt Service Coverage. More aggressive LTV and DSC available for non-profit sponsors [] This loan is always assumable Moderate Rehab allowed |
| Updated as of | 2023-09-24 |
Construction Loan | |
| Property Types | Assisted Living, Senior Care - Commercial Property, Skilled Nursing |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $120,000,000 |
| Terms | 40 year |
| Lien Position | 1st |
| General Pricing or Guideline info | The following description is a summary of a core lending program offered by Eastern Mortgage Capital. We encourage you to contact us today for specific information and for a more thorough explanation [] Construction/Perm Loan with no re-trading of interest rate at permanent loan conversion [] 40- Year Amortization [] 40- Year Term (no balloon) [] No maximum loan amount [] Low, fixed interest rate, based on market spreads over 10 Year Treasury Yield. [] Non-recourse with no completion guaranties [] Flexible and negotiable pre-payment terms, NEVER defeasance or yield maintenance [] 1.11 Minimum Debt Service Coverage. More aggressive LTC and DSC available for non-profit sponsors [] This loan is always assumable |
| Updated as of | 2023-09-24 |
Summary of all Guidelines | |
| Loan Types | Commercial Loan, Construction Loan |
| Property Types | Multi Family, Skilled Nursing |
| Lendding Area | NATIONWIDE |
| Loan amount Maximum | $50,000,000 |
| Terms | 1 year, 2 years, 40 Years |
EMC is actively lending and securing required loan amounts while many other lenders fall short. We have several multifamily loans in process, and many are providing excess cash proceeds to the borrowers despite today’s higher rates.
Permanent Financing for New Projects – EMC is currently securing permanent financing for new projects coming out of construction.
Refinance of High LTV Loans – Call us if you have a high LTV loan at a low rate coming due. Even at today’s rates we may be able to refinance your loan without the need for additional equity.
Large Loans – Loan amounts up to $120 million at up to 85% LTV.
Eastern Mortgage Capital is located in Burlington, MA. They offer financing for Construction Loans and Commercial Loans. The property type they primarily lend against is Multi Family and Skilled Nursing. Their maximum loan amount is $50,000,000. Maximum duration of 1 year;2 years;40 Years.
These descriptions are limited information and meant for general reference purposes.
2400 District Avenue
Burlington,
MA
Please note that these descriptions are limited information and meant for general reference purposes.
