New Construction/Substantial Rehab Insured Loan Program:
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90% Loan-to-Cost (or 100% w/ Equity Partnership)
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Low, fixed interest rate
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40 Year Amortization
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Developer’s Fee of 10% can be
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40 Year Term (no balloon)
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Used towards equity requirement
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No maximum Loan Amount
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Non-recourse (No personal Liability)
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Negotiable pre-payment terms
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1.10 Minimum Debt Service Coverage
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Loan is assumable
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Third-party expenses and loan costs can be financed.
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Multifamily Acquisition:
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85% Loan-to-Value (or 100% w/ Equity Partnership)
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Low, fixed interest rate (6%-6.5%)
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35 – 40 year Amortization
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Non-recourse (No personal Liability)
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35 – 40 year Term (no balloon)
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Negotiable pre-payment terms
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7.5% Seller promissory note
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1.18 Minimum Debt Service Coverage allowed for down payment requirement
Third-party expenses and loan costs
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No maximum Loan Amount
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Can be financed!
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Refinance Multifamily:
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85% Loan-to-Value
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Non-recourse (No personal Liability)
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35 year Amortization
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Negotiable pre-payment terms
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35 Year Term (no balloon)
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1.18 Minimum Debt Service Coverage
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No maximum Loan amount
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Third-party expenses and loan costs
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Low, fixed interest rate
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Can be financed
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