Long Term Commercial Loan
CMBS Large Commercial Long Term |
| Property Types | Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $2,000,000 |
| Loan amount Maximum | $45,000,000 |
| Terms | 5 year, 7 year, 10 year |
| Recourse | Recourse and Non Recourse available |
| Reserve Requirement | 3 months |
| General Pricing or Guideline info | PRODUCT OVERVIEW
[] Non-recourse with standard carve-outs
[] Yield maintenance or defeasance
[] Minimum Debt Service Coverage for Multifamily: 1.20x
[] Minimum Debt Service Coverage for : Commercial: 1.30x,
[] Minimum Debt Yield for Multifamily: 7%
[] Minimum Debt Yield for Commercial: 9% to 12%
[] Full term and partial interest-only considered on a case-by-case basis
[] Amortization 25-30 years
[] Origination fee at par
[] Single purpose entity required
TI/LC and Capital Expenditure reserves structured on a deal-by-deal basis
[] Springing or in-place lockbox/cash management |
| Updated as of | 2022-12-29 |
Long Term Commercial Loan
Freddie Mac Small Balance Loan |
| Property Types | Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $7,500,000 |
| Terms | 5 year, 10 year, 20 year, 30 year |
| General Pricing or Guideline info | PRODUCT OVERVIEW
[] Stabilized properties
[] High broker payouts
[] Borrower rebates
[] Loan Size: up to 80% loan-to-value
[] Products: Fixed five, seven, 10 year, hybrid 20 year with fixed five, seven, 10 year
Amortization: up to 30 years
[] Prepayment: step down prepay and yield maintenance
[] Short term fixed and floating bridge-to-agency loans |
| Updated as of | 2022-12-29 |
Bridge Loan
Commercial - Core Program |
| Property Types | Industrial, Retail, Self-Storage |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $5,000,000 |
| Loan amount Maximum | $75,000,000 |
| Terms | 5 year |
| Lien Position | 1st |
| Updated as of | 2023-06-06 |
Bridge Loan
Bridge to Small Balance Agency Lending |
| Property Types | Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $1,000,000 |
| Loan amount Maximum | $7,500,000 |
| Terms | 6 month, 1 year, 18 month, 2 year |
| Typical Days Required to Fund | 31-40 Business days |
| General Pricing or Guideline info | WHY READY CAPITAL?
[] Quick closings provide ability to capitalize on opportunity
[] Loan terms with extension options provide flexibility
[] No exit fee if refinanced with Ready Capital
[]Future advances to facilitate value-enhancing renovation
work
[] Able to pivot between bridge and perm program for Tweener deals
[] Fast answers with front-end “speed underwriting”
[] Certainty of execution - Ready Capital is the B-piece holder |
| Updated as of | 2022-12-29 |
Bridge Loan
Commercial - Non-Core Program |
| Property Types | Hotel, Office, Retail |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $5,000,000 |
| Loan amount Maximum | $75,000,000 |
| Terms | 5 year |
| Lien Position | 1st |
| Updated as of | 2023-06-06 |
Summary of all Guidelines |
| Loan Types | Bridge Loan, Commercial Loan, Construction Loan, SBA Loan, Second Mortgage |
| Property Types | 2-4 Units, Gas Station, Hotel, Industrial, Land Entitled, Mixed use, Multi Family, Office, Retail, Self-Storage, SFR, Special-Use, Student Housing |
| Lendding Area | alabama, arizona, colorado, florida, georgia, idaho, illinois, kansas, kentucky, maryland, mississippi, missouri, montana, nevada, north-carolina, oregon, pennsylvania, south-carolina, tennessee, texas, utah, virginia, washington, washington-dc, west-virginia, wyoming |
| States Excluded | Hawaii |
| Loan amount Minimum | $3,000,000 |
| Loan amount Maximum | $75,000,000 |
| Points Minimum 1st TD | 1 |
| Terms | 5 years, 7 years, 10 years |
| Bridge Loan to Purchase | 75 |
| LTV Bridge Refi No Cash Out | 65 |
| LTV Bridge Refi Cash Out | 65 |
| LTV Bridge | 65 |
| LTC Construction | 80 |
| LTC Rehab | 80 |
| Personal Guarantee /Recourse Required | Personal Guarantee Not Required / Non-Recourse |
| Special Features | Blanket, Business Purpose Residential, Portfolio, Residential Subdivision |
| Percentage of Budget Financed - Rehab | 100 |
| LTC Percentage of Budget Financed | 100 |
Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans.
Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs over 600 professionals nationwide.
Ready Capital is located in New York, NY. They offer financing for Bridge Loans, Construction Loans, Commercial Loans, SBA Loans and Second Mortgages. The property type they primarily lend against is 2-4 Units, Gas Station, Hotel, Industrial, Land Entitled, Multi Family, Office, Retail, Self-Storage, SFR, Special-Use, Student Housing and Mixed use. Their minimum loan amount is $3,000,000. Their maximum loan amount is $75,000,000. They offer loans for a minimum Term of 1 year. Maximum duration of 5 years;7 years;10 years. Points charged are deal specific, but historically have charged a minimum of 1.
These descriptions are limited information and meant for general reference purposes.
