- Loan Amount: $750,000 to $5 million

- Loan Terms: Fixed rates for 5, 7, 10, 12, 15, 20 and 30 years

- Amortization: Up to 30 years

- Prepayment Penalty: Yield maintenance and step-down options available

- Recourse: Non-recourse is available

- Debt Service Coverage: 1.25x minimum

- Loan to Value: Up to 75% maximum LTV for refinances and 80% for purchases

- Subordinate Financing: Supplemental mortgages are available after the first 12 months

- Occupancy: 90% for 90 days

- Assumability: Non-recourse loans are assumable

- Taxes and Insurance Escrows: Maybe waived on lower LTV loans

- Net Worth and Liquidity: Required

- Replacement Reserve Escrows: To be determined based upon appraisal and engineering reports

- Rate Lock: Rate lock occurs after commitment is issued; an early rate lock option is also

available

- Due Diligence Fee: $4,500 – $8,500 non-refundable fee for 3rd party reports and processing

- Timing: 45-60 days from complete application to closing

- Loan Amount: $1 million to $5 million

- Loan Purpose: Purchase or refinance, including cash out refinances

- Loan Terms: 5, 7 and 10 year fixed rate, hybrid ARM and fixed-rate loan options

- Amortization: Up to 30 years

- Property Types: Apartment buildings of 5+ units

- Debt Service Coverage: 1.20x in top markets, 1.25x nationwide

- Maximum Loan to Value: 80%

- Recourse: Non-Recourse

- Credit Score: Minimum of 650

- Interest Only: Interest only loans are available

- Occupancy: 90% for 90 days

- Taxes/Insurance: Escrows for taxes and insurance may be waived

- Replacement Reserves: Not usually required

- Rate Lock Deposit: 1% at rate lock, refundable at closing

- Adjustments: Annual and lifetime caps on all adjustments

- Assumable: Yes