Loan Amounts: $500,000 to $5,000,000. Loans outside this range are considered on a case-by-case basis.
Property Types: Multifamily, retail, office, hotel, and industrial. Other property types approved on a case-by-case basis.
Loan Terms: Flexible. Six months to 36 months.
Interest Rate: Transactions are priced based on risk level related to loan leverage, quality of real estate, and borrower strength.
Collateral Required: Recorded first or second mortgage position or pledge/assignment of partnership interests.
Application Fee: $5,000, at Application, non-refundable.
Good Faith Deposit: $5,000, at Application; used to cover underwriting costs and legal. Credited to borrower at closing.
Financing Fees: Determined on a case-by-case basis; minimum $15,000.
Recourse: Personal guaranty required.
Lockout: Prepayable any time, subject to a minimum interest payment. |