Long Term Commercial Loan
Small-Balance Commercial Product Suite
Program #LG15
Small-Balance Commercial Product Suite
Program #LG15
Summary of all Guidelines | |
| Loan Types | Commercial Loan |
| Property Types | Automotive, Daycare, Industrial, Mixed use, Mobile Home Park, Multi Family, Office, Restaurant, Retail, Self-Storage, Warehouse |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $2,000,000 |
| Points Maximum 1st TD | 3 |
| Terms | 5/1 ARM, 30 year |
| Credit Score Min | 650 |
| Prepayment Penalty | 5,4,3,2,1, 5,5,5,5,5 |
| Reserve Requirement | 6 months |
| General Pricing or Guideline info | Must be located in the top 200 MSAs Max Broker Upfront Compensation: 3 points upfront + up to $2,000 Broker processing fee YSP Spread Options à No YSP = Par Rate • 1/3 Point = 0.125% Rate Increase • 2/3 Point = 0.250% Rate Increase • 1 Point = 0.375% Rate Increase • 1 1/3 Points = 0.500% Rate Increase • 1 2/3 Points = 0.625% Rate Increase • 2 Points = 0.750% Rate Increase ------------------------------------------------ Other: For reduced PPP: 1) 5 Year Declining 5%,4%,3%,2%,1% add +.125% to rate / For 5% for 3 Year PPP add +.25% to rate Or Refinances: Rents are verified via last 2-month bank statements; Underwriting may request cancelled checks. · For rate Buy down -.375% to rate = 1-point cost to Borrower (Max buy down -.750% to rate = 2 points cost to Borrower). · All of our loans required six (6) month reserves. - Min 450 sq feet per unit |
| Updated as of | 2022-01-01 |
Must be located in the top 200 MSAs
Max Broker Upfront Compensation: 3 points upfront + up to $2,000 Broker processing fee
YSP Spread Options à
No YSP = Par Rate
• 1/3 Point = 0.125% Rate Increase
• 2/3 Point = 0.250% Rate Increase
• 1 Point = 0.375% Rate Increase
• 1 1/3 Points = 0.500% Rate Increase
• 1 2/3 Points = 0.625% Rate Increase
• 2 Points = 0.750% Rate Increase
------------------------------------------------
Other:
For reduced PPP: 1) 5 Year Declining 5%,4%,3%,2%,1% add +.125% to rate / For 5% for 3 Year PPP add +.25% to rate
Or Refinances: Rents are verified via last 2-month bank statements; Underwriting may request cancelled checks.
· For rate Buy down -.375% to rate = 1-point cost to Borrower (Max buy down -.750% to rate = 2 points cost to Borrower).
· All of our loans required six (6) month reserves.
- Min 450 sq feet per unit
These descriptions are limited information and meant for general reference purposes.
- Millie Corripio
AVP - Sales Director
