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Eastern Mortgage Capital

Provide construction-to-permenant development loans and refinance exiting loans on multifamily properties Nationwide.

Long Term Commercial Loan
232/223(f) Healthcare Acquisition/Refinance

Property Types Assisted Living, Senior Care - Commercial Property, Senior Care - Low Income, Skilled Nursing
Lending Areas 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
232 Healthcare New Construction/Substantial Rehab

Property Types Assisted Living, Senior Care - Commercial Property, Senior Care - Low Income, Skilled Nursing
Lending Areas NATIONWIDE
Term 40 year
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 [] 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

Long Term Commercial Loan
223(f) Multifamily Acquisition/Refinance HUD Insured Mortgage

Property Types Mixed use, Multi Family
Lending Areas 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
223(a)7 Refinance of Existing HUD Insured Mortgage

Property Types Mixed use, Multi Family
Lending Areas 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

Construction Loan
221(d)4 Multifamily New Construction/Substantial Rehab

Property Types Mixed use, Multi Family
Lending Areas NATIONWIDE
Term 40 year
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

Summary of all Guidelines

Loan Types Commercial Loan, Construction Loan
Property Types Multi Family
Lendding Area NATIONWIDE
Loan amount Maximum $50,000,000
Terms 1 year, 2 years, 40 Years
Prepayment Penalty none

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. 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