| Loan Amount: | Minimum of $1,000,000 |
| Liability: | Non-recourse |
Assumability:
| With consent of Lender |
Loan Term:
| 5, 7, 10, 15, 18, 25 & 30 years |
Amortization:
| Up to 30 years |
| Interest Rate: | Changes daily. Please call your local Originator for today's rates. |
Pricing Categories:
(Refer to Rate Sheet) |
| Tier | Min DSC | Combined Max LTV | | II | 1.25 | 80% | | III | 1.35 | 65% | | IV | 1.55 | 55% |
|
| Prepayment: | Yield Maintenance and Alternative Defeasance. Other terms and conditions are available. |
| Standard Yield Maintenance: |
4.5 years for a 5 year term loan
6.5 years for a 7 year term loan
9.5 years for a 10 year term loan
10 years for 15, 18, 25 or 30 year term loans
(Alternative yield maintenance periods are available.) |
| Reserves: | Taxes and Insurance
Funded Replacement reserves may be waived for Tier III & IV loans. |
| Application Deposit: | $13,500 (Includes appraisal, environmental assessment and physical needs assessment costs.) |
| Lender's Legal Fee: | $4,750 |
| Survey: | Required (Unless specific waiver approval granted.) |
| Origination Fee: | Greater of 1% or $20,000, payable at Closing |
|
Commitment Fee:
Occupancy:
|
2% (Refundable)
Minimum of 85% for 90 continuous days |
| Early Rate Lock: | Available. |
| Supplemental Mortgages: | Available. (After the 1st year of the loan term.) |
|
