Long Term Commercial Loan
223(a)7 Refinance of Existing HUD Insured Mortgage
Program #LG252
223(a)7 Refinance of Existing HUD Insured Mortgage
Program #LG252
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Summary of all Guidelines | |
Loan Types | Commercial Loan |
Property Types | Mixed use, Multi Family |
Lendding Area | 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 |
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
[] Loans 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
These descriptions are limited information and meant for general reference purposes.- Peter Tousignant