Long Term Commercial Loan
DSCR Mixed Use 2-8 & 5-8 Unit Residential
Program #LG332
DSCR Mixed Use 2-8 & 5-8 Unit Residential
Program #LG332
Summary of all Guidelines | |
| Loan Types | Commercial Loan |
| Property Types | Mixed use, Multi Family |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $250,000 |
| Loan amount Maximum | $2,000,000 |
| Interest Rate Minimum | 8% |
| Interest Rate Maximum | 10.75% |
| Terms | 5 / 6 month ARM, 30 year, 40 year |
| Credit Score Min | 660 |
| Interest Only or Amortized | Amortized and Interest Only Options available |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, Individual, Trust |
| Lien Position | 1st |
| Prepayment Penalty | 5,5,5,5,5 |
| Documents needed | Appraisal, Lease Agreements, Rent Roll |
| Intended Occupancy | Tenant |
| Special Features | 10/1 Interest-Only, 40 year I/O, 40 year loan term available |
| General Pricing or Guideline info | Occupancy •Investor-Only Product Offering •5/6 ARM •5/6 ARM 10 Year IO (40 Year Term) •5/6 ARM 10 Year IO (30 Year Term) •30 Year Fixed Rate Mortgage •30 Year Fixed Rate Mortgage (10-year Interest only) •40 Year Fixed Rate Mortgage (must include a 10-year Interest only period) Min | Max $250,000 | $2.5M Property Types •5-8 Units Residential Properties •2-8 Units Mixed-Use Properties •Minimum 50% of square footage must be residential •Minimum of 2 stories Prepayment Penalty •Required 5-Year PPP Required Limitation on Financed Properties •Capped at 6 loans or $5,000,000 |
| Updated as of | 2023-11-14 |
Occupancy
•Investor-Only
Product Offering
•5/6 ARM
•5/6 ARM 10 Year IO (40 Year Term)
•5/6 ARM 10 Year IO (30 Year Term)
•30 Year Fixed Rate Mortgage
•30 Year Fixed Rate Mortgage (10-year Interest only)
•40 Year Fixed Rate Mortgage (must include a 10-year Interest only period)
Min | Max
$250,000 | $2.5M
Property Types
•5-8 Units Residential Properties
•2-8 Units Mixed-Use Properties
•Minimum 50% of square footage must be residential
•Minimum of 2 stories
Prepayment Penalty
•Required 5-Year PPP Required
Limitation on Financed Properties
•Capped at 6 loans or $5,000,000
- Bruce Lawner
COO
