Long Term Commercial Loan
Commercial Apartments 5-9 Units (30yr Fixed): - LG130
Commercial Apartments 5-9 Units (30yr Fixed): - LG130
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 |
| Program Code | LG130 |
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.