Nationwide Rate Buster Commercial Loans *
Rate Buster Commercial Program A
$500K million to $15 million and higher on case by case
Owner occupied $3 million to $10 million and higher on case by case
Office, Office Condo, Medical Office, Retail, Strip Malls Anchored and Unanchored, Single Tenant,
Triple Net (NNN), Light Industrial, Industrial and Flex Multi Use DSCR – 1.20+ Office DSCR – 1.25+ Retail DSCR – 1.30+ Maximum LTV 75% Term/Amortization 30 Years Minimum Credit 680 Borrower must have 10% of the loan amount liquid pre close Cash Out allowed on this program
| Industrial & Office | Pre-Payment Penalties | Rates |
|---|
| | | | 2 Year Fixed/ARM | Step Down Pre-pay (3,1) | 6.23% | | 3 Years Fixed/ARM | Step-Down Pre-pay (5,3,1) | 6.38% | | 5 Years Fixed/ARM | Step-Down Pre-pay (5,4,3,2,1) | 6.99% | | 7 Years Fixed/ARM | Step-Down Pre-pay (7,6,5,4,3,2,1) | 7.31% |
Fixed/ARM: After fixed period the rate will adjust quarterly at spread of 3.00% over 3 month LIBOR Index Note: Call for other property type rates i.e. Anchored Retail and Un-Anchored Retail
Rate Buster Commercial Program B Program B $150K to $4 million Conventional Industrial Buildings - No older or larger buildings (built prior to 1950 and > 50,000 sq ft)
Minimum DSCR
= 1.25+
Term/Amortization 25 Years Minimum Score 650
No Cash Out allowed on this program unless funds are going back into bldg improvements
*Tier I $150K to $4 million 65% LTV
Industrial, Office Buildings, Office Condo, Single Tenant
Medical Condo, Retail, Strip Malls, Warehouse
*Tier II $250K to $4 million 60% LTV
Light Automotive Service Repair Facilities, Auto Tire and Brake Centers,
Restaurants, Bed and Breakfast, Funeral Homes, Day Care, Auto Service,
Assisted Living Care, Auto Dealership, Grocery Store, Self Storage, Hotels/Motels
*Tier III $250K to $4 million 50% LTV
Car Washes, Bowling Alleys, Ice Rinks, Movie Theaters, Aircraft Hangers
*Tier IV $250K to $4 million 50% LTV
Golf Courses and Country Clubs
Tier II – Add 0.25% to rates
Tier III and IV – Add 0.50% to rates
Pricing for Tier I see above for add-ons for Tiers II, III and IV
| Program B | Rates | | Prime Quarterly Fixed | 4.00% | | Prime Annual Fixed | 4.75% | | 5 Year Fixed/Recast | 7.58% |
1) Borrower may make additional principal reductions without penalty up to 20% of the original note balance annually
2) Fixed/Recast – At end of fixed period borrower can recast into a new 5 yr fixed period as long as the numbers are equal to when they first applied and credit score hasn’t changed.
3) Rate locks beyond 30 days are available up to 60 days with a deposit of $3,500 or .75% of the permanent loan amount. Pre-payment Penalty Options – Add to Rate
| Premium | 5 Year |
|---|
| Declining 5,4,3,2,1 | 0.50% | 0.50% |
|---|
| Flat 5% for first 5 years | 0.25% | 0.50% |
|---|
| Declining 7,6,5,4,3,2,1 | 0.25% | 0.50% |
|---|
| Flat 7% for 7 years | included | 0.50% |
|---|
| Declining 10,9,8,7,6,5,4,3,2,1 | included | 0.25% |
|---|
| Flat 10% for first 10 years | included | included |
|---|
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