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Small Mortgage Loan Program

The streamlined loan process for fixed- and variable-rate Mortgage Loans up to $6 million nationwide.

Competitive Advantage


Loan Amount

Up to $6 million nationwide

Term

5 - 30 years.

Amortization

Up to 30 years.

Interest Rate

Fixed- and variable-options available.

Maximum LTV

80%.

Minimum DSCR

1.25x.

Supplemental Financing

Supplemental Mortgage Loans are available.

Prepayment Availability

Flexible prepayment options available, including yield maintenance and declining prepayment premium. 

Rate Lock

30- to 180-day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option.

Accrual

30/360 and Actual/360.

Recourse

Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy.

Escrows

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.

Third-Party Reports

Streamlined inspection and Environmental Screening using the ASTM E-1528-14 protocol.

Assumption

Non-recourse loans are typically assumable, subject to review and approval of the new borrower’s financial capacity and experience.