Long Term Commercial Loan
223(f) Multifamily Acquisition/Refinance HUD Insured Mortgage - LG253
223(f) Multifamily Acquisition/Refinance HUD Insured Mortgage - LG253
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 []ACQUISITION: Lesser of 85.0% Loan-to-Value* or 85.0% Loan-to Acquisition-Cost*, Seller romissory note allowed [] REFINANCE: Up to 85.0% Loan-to-Value*, 80% with cash-out [] Up to 35- Year Amortization [] Up to 35- Year Term (no balloon) [] No maximum loan amount [] 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 [] 1.1765 Minimum Debt Service Coverage. More aggressive LTV and DSC available for affordable projects [] This loan is always assumable [] Moderate Rehab allowed [] Value sizing is based on market rents and occupancy, regardless of actual 90 day collections, subsidy, or restrictions. |
| Updated as of | 2023-09-24 |
| Program Code | LG253 |
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
[]ACQUISITION: Lesser of 85.0% Loans-to-Value* or 85.0%
Loans-to Acquisition-Cost*, Seller romissory note allowed
[] REFINANCE: Up to 85.0% Loans-to-Value*, 80% with cash-out
[] Up to 35- Year Amortization
[] Up to 35- Year Term (no balloon)
[] No maximum loan amount
[] 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
[] 1.1765 Minimum Debt Service Coverage. More aggressive LTV and DSC available for affordable projects
[] This loan is always assumable
[] Moderate Rehab allowed
[] Value sizing is based on market rents and occupancy, regardless of actual 90 day collections, subsidy, or
restrictions.
