Long Term Commercial Loan
Commercial Apartments 5-9 Units (30yr Fixed):
Program #LG130
Commercial Apartments 5-9 Units (30yr Fixed):
Program #LG130
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Summary of all Guidelines | |
Loan Types | Commercial Loan |
Property Types | Multi Family |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $250,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 8% |
Interest Rate Maximum | 9.25% |
Points Minimum 1st TD | 1.5 |
Points Maximum 1st TD | 2.5 |
Terms | 30 year |
Typical Days Required to Fund | 20-30 Business days |
Credit Score Min | 680 |
Interest Only or Amortized | Amortized |
Fees | Appraisal |
Entities | LLC - Limited Liability Corporation, LP - Limited Partnership, Corp - Corporation, Taking Title Personally not permitted |
Lien Position | 1st |
Fixed or Adjustable | Fixed |
Recourse | Recourse |
Reserve Requirement | 9 months |
General Pricing or Guideline info | Borrower Parameters: Eligible Property Types: Apartments residential 5+ units, Mixed Use (apartment residential with retail and/or commercial up to 30% of space and income. Occupancy: No less than 90%. Tax and Insurance Impounds ("T&I"): Tax and insurance may be escrows required. Borrower: Individual(s), Sole Proprietorships, Trusts, Partnerships (General and Limited), Limited Liability Corporations, Corporations and Joint Ventures are eligible. Personal Guarantees/Recourse: Generally, the loan is a full legally enforceable financial recourse to an individual as borrower or as guarantor. Non-recourse avialable. |
Updated as of | 2024-02-18 |
Borrower Parameters:
Eligible Property Types: Apartments residential 5+ units, Mixed Use (apartment residential with retail and/or commercial up to 30% of space and income.
Occupancy: No less than 90%.
Tax and Insurance Impounds ("T&I"): Tax and insurance may be escrows required.
Borrower: Individual(s), Sole Proprietorships, Trusts, Partnerships (General and Limited), Limited Liability Corporations, Corporations and Joint Ventures are eligible.
Personal Guarantees/Recourse: Generally, the loan is a full legally enforceable financial recourse to an individual as borrower or as guarantor. Non-recourse avialable.
These descriptions are limited information and meant for general reference purposes.- Jonathan Finman
Managing Partner