top of page

Small Loans

Loan Amount

$1,500,000 - $3,000,000 ($5,000,000 maximum in select markets)

Liability & Assumability

Non-recourse; With consent of Lender and payment of 1% transfer fee

Minimum Debt Cover

125% of principal and interest payments

Maximum LTV

80% - purchase or refinance

Available Loan Terms

5, 7, 10, 15, 18, 20 or 30 years

Maximum Amortization

30 years

​​

Prepayment Terms

Yield Maintenance

Mixed Use

Up to 35% of the total building area can be commercial space, and up to 20% of the income can be derived from commercial leases

Minimum FICO Score

680 minimum for each Key Principal

Minimum Liquidity

Nine (9) months of monthly principal and interest payments
 

Minimum Net Worth

Equal to the proposed loan amount

Acceptable Markets

Major urban centers nationally

Appraisal Fee

None

Application Deposit

$4,500

Inspection Fee

$750

Processing Fee

Greater of $1,500 or 10 bps

Origination Fee

Greater of 1% or $2,500. Par pricing available

Document Fee

$550

Rate Lock Deposit

1% for a 30 day rate lock (2% requirement for loans greater than $3,000,000)

Occupancy

Minimum of 90% for 90 continuous days

Supplemental Mortgages

Available one year after loan closing

Monthly Replacement Reserve Impounds

Typically waved

Typically Not Required

Legal Opinion, Replacement Reserve Impounds, Property Needs Assessment and Environ- mental Reports

bottom of page