Loan Limits |
$1,000,000 minimum. |
Property types |
manufactured home communities, mobile home parks, RV parks, cooperatives, mixed use, student housing, senior housing. |
Rates |
Competitive market pricing; fixed or floating rates. |
Terms |
5, 7, 10, 15, 20, 25, 30, 35 year terms. |
Amortization |
25 to 35 year amortization. |
Prepayment |
Several options including no prepayment penalty. |
Recourse |
Nonrecourse loans multifamily available (subject to standard carve outs). |
DSC |
1.20 DSC minimum. |
LTV |
75% – 85% LTV/LTC maximum. |
Assumable |
Assumable to a qualified borrower. |
Geographic areas |
Most States. |