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Conduit Loan Parameters:

 

Term:                            5, 7 or 10 years

 

Amortization:                 Up to 30 years. IO periods on request

 

Rate:                            Fixed at a spread over interpolated treasury corresponding to term

 

LTV/DSCR ratios:          Multi-family - max 80% min 1.20
Office - max 75% min 1.25
Anchored Retail - max 80% min 1.25
Unanchored Retail - max 75% min 1.30
Industrial - max 75% min 1.25
Self Storage max 70% min 1.30
Hotel max 70% min 1.45

Prepayment:                  Lockout followed by defeasance

 

Escrows:                       Taxes, insurance, reserves   

                 

Reports:                        Appraisal, Environmental Phase I, Property Condition Report

 

Application Deposit:       $25,000 with application refundable less 3rd party report costs expended

 

Origination Fee:             1%

Assumption:                  Permitted for one time 1% fee plus underwriting costs