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Commercial Loan Programs:
HUD Multifamily Apartment Loans:
- HUD Apartment Loans 223(f) Multifamily "Acquisition/Refinance" Program click here
- HUD New Multifamily Construction/Substatial Rehab Loan Program 221(d)4 click here
- HUD vs. Conventional Multifamily Loan Programs click here
BASIC PROGRAMS
REFINANCE OR PURCHASE O/O OR INVESTOR
TYPE PROPERTY – MIX USE, OFFICE, RETAIL, SELF STORAGE, LIGHT INDUSTRIAL, BED & BREAKFAST, WAREHOUSE, MOBILE HOME PARK
OTHER PROPERTY TYPES – CASE BY CASE
FULL DOC LOANS; documentaion needed click here
MAX LTV 80% WITH “A” CREDIT MIN. SCORE 740
75% WITH “A-“ CREDIT MIN. SCORE 680
STATED LOANS; documentaion needed click here
MAX LTV 75% WITH “A” CREDIT MIN. SCORE 740
70% WITH “A-“ CREDIT MIN. SCORE 680
TERMS - 3, 7, 15, 20, 30 YEAR AMORITIZATION
PERPAYMENT PENALTY – 5% FOR 5 YEARS
OUT OF POCKET – APPRAISAL, TITLE, SURVEY, ENVIRONMENTALS
MAX LOAN AMOUNT $ 5,000,000
ALL LOANS 1% ORIGINATION
JUNK FEES – PROCESSING $750, UNDERWRITING $1500
ALL BORROWERS ON TITLE ( WITHIN LAST 12 MONTHS )MUST BE ON LOAN
CAN CLOSE IN CORPORATE NAME
MOST LOANS ASSUMABLE
O/O BUILDINGS MUST OCCUPY 35% OF BUILDING
MAX YIELD SPREAD 1% .50 = 1%.
LTV = CLTV
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