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Eastern Mortgage Capital

Construction Loan
221(d)4 Multifamily New Construction/Substantial Rehab - LG251

Eastern Mortgage Capital

Summary of all Guidelines

Loan Types Construction Loan
Property Types Mixed use, Multi Family
Lendding Area NATIONWIDE
Loan amount Minimum $1,000,000
Loan amount Maximum $120,000,000
Terms 40 year
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.