multifamily bank alternative loans
Purchase, Refinance, Cash Out or Construction
Lending Area: USA
Loan Amount: $500,000 - $50 million +
LTV: Varies with, credit score and operating income
Refinance / Cash Out LTV: 70% of Appraised Value
Purchase LTV: 80% of Purchase Price
Terms: 5 to 30 years
Amortization: 30 years
Prepayment: Flexible
Rate: 7.35% - 9.99%
Funding: 4 to 6 weeks
Fees: NO upfront Fees ...... We are paid at closing
Term Sheet: Usually issued within 48 hours of formal application
Credit Score: 650 +, NO recent bankruptcy, foreclosures, short sales, judgements or mortgage charge offs
Tax Returns: No tax returns or income verification
Underwriting: Low doc streamlined underwriting
Property Types: Multifamily, Mixed Use and commercial Properties
Experience: Experience required on title with similar properties
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