Topic: MF projects
Topic Author
MULTIFAMILY BRIDGE PROPERTY TYPE: Small Balance Multifamily Residential (5+ units) LOAN: $500,000 - $5,000,000 TYPES: Interest Only | Fixed/ Adjustable Rate Mortgage options TERM LENGTH: Up to 24 months + Two 6-month extensions MIN GUARANTOR FICO: Mid-Score of 680 MAX LTC: Purchase Loans: 75% of Purchase/As-is Value + 100% of Rehab Costs Refinance Loans: 65% of As-is Value + 100% of Rehab Costs Cash out Refinance Loans: Subject to LTV guidelines based on mid FICO score MAX LOAN TO STABILIZED VALUE: Purchase/Rate-Term Refinance: 70% Cash out Refinance: 65% RECOURSE: Loans ≤ $2MM: Full Recourse Loans > $2MM: Full Recourse or Limited Recourse with bad-boy carveouts Completion Guaranty/Reserve Replenishment Guaranty when applicable
Posted 3 months 3 weeks ago