Commercial Mortgage

Conduit Small Commercial Mortgage

The Commercial Mortgage Backed Securities market is one of the fastest growing programs of the commercial mortgage industry due to pricing and flexibility.
Loan Amount: $1 Million - $5Million
Description: Fixed-rate, non-recourse financing. Commercial mortgages are secured by income property.
Pricing: Fixed interest rates priced at competitive spreads over comparable maturity U.S. Treasury
Term: 5, 7, 10 or more years
Amortization: 30 Years Maximum
Prepayment: Multiple options
Loan to Value Ratios: 75% to 80% depending on property type.
Assumable: Yes
Recourse: Non-recourse with standard carve-outs
Cash Out: Permitted
Property Types: office, retail, industrial, multifamily, manufactured housing and hotel
Availability: Nationwide
Rate Lock: Rate is locked at least 24 hours prior to funding
Borrower may elect an Early Rate-Lock option
Third Party Reports: (ordered upon acceptance of application and payable by Borrower) Appraisal, Environmental, Property Condition Report, Seismic (required in high risk areas)
Closing: Typically within 30 days of accepted commitment


Eligible Property Types

Property Type, Maximum LTV, Minimum DSCR, and Maximum Amortization
Multifamily 80% LTV, 1.20x, 30 years
Anchored Retail 80% LTV, 1.20x, 30 years
Unanchored Retail 75% LTV, 1.25x, 30 years
Office Building 80% LTV, 1.25x, 30 years
Warehouse/Industrial 80% LTV, 1.25x, 30 years
Manufactured Housing 80% LTV, 1.20x, 30 years
Self-Storage 75% LTV, 1.25x, 25 years
Hotel 75% LTV, 1.40x, 25 years
Assisted Living 75% LTV, 1.35x, 25 years
Skilled Nursing Facilities 75% LTV, 1.40x, 25 years
Required Loan Information:
Transaction summary including property description
Historical operating statements
Current debt/acquisition cost/construction costs
Site plan
Borrower information
Photographs
Current rent roll Bullets

In its qualifying review, Commercial Loan Programs will attempt to estimate both the loan amount and the fees and costs associated with the transaction. Actual loan amounts and actual fees and expenses may vary from the qualifying estimates. A qualifying estimate is not a commitment to make a loan.