Small Mortgage Loan Program
The streamlined loan process for fixed- and variable-rate Mortgage Loans up to $6 million nationwide.
Up to $6 million nationwide
5 - 30 years.
Up to 30 years.
Fixed- and variable-options available.
Supplemental Mortgage Loans are available.
Flexible prepayment options available, including yield maintenance and declining prepayment premium.
30- to 180-day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option.
30/360 and Actual/360.
Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy.
Lenders are delegated the authority to waive the Replacement Reserve for certain transactions. Replacement Reserve, tax, and insurance escrows are typically required for higher leverage transactions.
Streamlined inspection and Environmental Screening using the ASTM E-1528-14 protocol.
Non-recourse loans are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience.