| |
| |
Apartment Loan
Quick Links |
|
|
| |
| |
|
Today's Apartment Loan Rates |
|
Fixed |
Rate |
Term |
Amort |
LTV |
| 5 yr |
4.54 |
5 yr |
30 yr |
55 |
| 5 yr |
4.79 |
5 yr |
30 yr |
65 |
| 10 yr |
5.35 |
10 yr |
30 yr |
55 |
| 10 yr |
5.60 |
10 yr |
30 yr |
65 |
| 10 yr |
5.80 |
10 yr |
30 yr |
80* |
| 30 yr |
7.75 |
30 yr |
30 yr |
80 |
| 35 yr |
5.25 |
35 yr |
35 yr |
85 |
| 5 yr |
6.51 |
6 yr |
30 yr |
75 |
| 7 yr |
6.81 |
8 yr |
30 yr |
75 |
|
|
|
|
| |
CommercialBanc
Banc-Series
Apartment Loan
Program
|
|
CommercialBanc's
Banc-Series™ Small Balance
Apartment Loan
Program provides
competitive, low
cost apartment
financing for five
plus individual
multifamily units,
mixed-use commercial
properties with less
than 25% of revenue
generated from
commercial use and
mobile home park
communities. |
Banc-Series Apartment
Loan Program
Overview
|
|
Apartment Loans from
$500,000 - $5
Million
|
|
15 and 30 Year
Amortizations
3, 5, 7, 10, 15 Year Fixed
Rate Terms
No
Defeasance or Yield Maintenance
Interest Only Payment Option
No Lender Points
No
Commitment Fees
Limited Appraisal - No
Environmental
No Replacement Reserves
Monthly / Annual Leases
Acceptable
Substitute Leases With Bank
Statements
3% Seller Concession Allowed
on Purchases
|
90% Minimum Occupancy
No
Balloon or Call Provisions
Maximum
LTV 80% / 85% CLTV
Step Down Prepayment
Minimum DSC of 1.25:1
Standard
1 Fee Closing Cost
No Outside Legal Fees
60 Day Rate Lock
Limited
Impound Requirements
Section 8 - Subsidized
Rents OK
Assumable at Lender Discretion
|
|
● |
10% Seller 2nd Considered on
a Case by Case Basis |
|
● |
Mixed-Use
Commercial/Residential
Acceptable to 25% Commercial
Use |
|
● |
Property
management experience is generally required for properties with 12 or
more units, or property management letter and resume may
be substituted. |
|
● |
$5,500 capped 1 fee closing cost for
apartment loans to $5 million. Costs
include standard third party reports
including inspection, appraisal,
engineering, environmental, lender
fees, document fees, and in-house
legal. |
|
Borrowers that
require
higher leverage apartment financing, CommercialBanc
combines its Banc Series™ traditional apartment loan program
with Mezzanine financing to offer up to 85% CLTV. Benefits include: |
|
Mezzanine Loan Sizes $100,000
- $400,000
In-House Mezzanine
financing simplifies
the transaction
Larger loans sizes
and easier
qualifying with
combined DSCR of
1.07
Banc-Series
traditional
apartment loan
retains program
integrity
|
|
Banc-Series Traditional to
80% LTV
Combined DSCR of 1.07
A
Note 360 Month Amortization
A
Note Step Down Prepayment
1% Origination Fee on B Note
|
Mezzanine B Note to 85% CLTV
5 / 7 / 10 Year Fixed Rate
Terms
B
Note Amortized to Term
B
Note May Be Retired
Separately
B
Note Yield Maintenance
Prepay
|
|
The Banc-Series™
small balance
conduit apartment
loan option offers
borrowers the lowest
fixed-rates of the
three Banc-Series™
program options.
|
|
Apartment loan sizes
$500,000 - $3,000,000 / $5,000,000 in select markets
Tiered risk based
pricing provides
exceptionally low
rates for lower LTVs
May
use
additional sources of
income to help qualify in
low CAP
areas
Available on 5+
unit multifamily and limited
mixed-use properties
|
|
25 or 30
Year Amortization Option
Subordinate Loans OK - Min. DSCR 1.25
Non-Recourse for Lower LTVs
No Prepay Last 90 Days of
Loan Term
|
80% LTV Purchases
5 / 7 / 10 Year Fixed Rate
Terms
Interest Only Payment Option
1.15
DSCR in Low CAP Areas
|
|
|
|
