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-- Rates quoted assume a 100 BPS rate buy down.
-- Minimum loan size
$500,000
-- Amortization/Term 30/15 ≤ 70% LTV
25/15 > 70% LTV.
-- Rates fixed for the terms quoted. Upon
conversion, rate will adjust to the 6 month LIBOR
plus 2.75%.
-- Floor is initial interest rate.
-- Periodic adjustment CAP 1.0%,
Annual 2.0%, Life Cap 5.0%
-- Minimum DSC of 1.25x required.
-- Prepayment is a declining percentage fee:
6 month LIBOR: 3, 2, 1
3 year fixed: 3, 2, 1
5 year fixed: 5, 4, 3, 2, 1
7 year fixed: 5, 5, 4, 4, 3, 2, 1
10 year fixed: 5, 5, 4, 4, 3, 3, 2, 2, 1, 1
15 year fixed: 5, 5, 4, 4, 3, 2, 2, 2, 1, 1
(Reduced prepayment available, call for details)
-- Available in major markets in the
continental United States.
-- Limited personal recourse available.
-- Tax and insurance escrows required.
-- 60 day rate lock available with refundable
deposit: 1% for commercial loan sizes over $1
million, 1/2% for commercial loan sizes under $1
million.
-- Interest rate buy-down available. |
