| |
| |
BANC-Series™ |
Plus Series™ |
Flex-Series™ |
APT-Series™ |
| Min Loan
Size |
|
$400,000 |
$100,000 |
$100,000 |
$500,000 |
| Max Loan
Size |
|
$15,000,000 |
$1,500,000 |
$5,000,000 |
$5,000,000 |
|
Amortization |
|
30 Years |
10-30 Years |
10-30 Years |
30 Years |
| Payment
Type |
|
P/I or
Interest Only |
P/I |
P/I |
P/I or Interest Only |
| Fixed
Period |
|
3, 5, 7, 10,
15 Year |
2, 5, 10, 15,
30 Yr. |
2, 3, 5, 10
Year |
3, 5, 7, 10 Year |
|
Documentation |
|
Full |
Full |
Stated or No
Doc |
Full |
| Recourse |
|
Full -
Limited |
Full |
Full |
Non-Recourse |
| Prepayment |
|
Decreasing
Term |
Decreasing
Term |
Decreasing
Term |
Defeasance |
| Lock Out |
|
No |
No |
No |
24 Month |
| Assumable |
|
Yes 1% |
No |
No |
Yes 1% |
| Credit
Score |
|
640 |
580 |
580 |
620 |
| 1 Fee
Closing |
|
Starts at
$5,795 |
Starts at
$5,295 |
Starts at $7,895 |
Starts at
$10,500 |
| Appraisal |
|
Limited FHLMC 71 |
Narrative
|
Narrative |
Full With
Bldg Insp. |
| Closing
Time |
|
30-45 Days |
25-45 Days |
20-45 days |
45-60 Days |
| Rate Lock |
|
60 Days
|
60 Days |
30 Days |
45 Days |
| Impounds |
|
Tax and
Insurance |
Tax and
Insurance |
Tax and Insurance |
Tax,
Insurance, Maintenance Res. |
| Property
Quality |
|
A-B+ Limited
Deferred Maint. |
A-B-
|
A-C |
A-A- |
| Rental
Subsidies |
|
Yes |
Yes |
Yes |
Yes |
| Minimum
Occupancy |
|
90% |
90% |
90% |
92% |
| Lease
Documentation |
|
Leases or
Bank Statements |
Leases |
Not Required |
Complete
Leases |
|
|
