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Apartments and Garden Apartments, Mobile
Home Parks, Anchored Or Unanchored Retail, Warehouses, Distribution Facility,
Professional Office, Medical Office, Light Or Heavy Industrial, Hotels, Motels,
Restaurants, Medical Centers Or Hospitals, Regional Shopping Malls, Leisure Or
Resort Development, Nursing Homes, Congregate Care, Assisted Living, Skilled
Nursing Facilities, Car Dealerships, Agricultural Properties, Retirement
Communities, Raw Land Or Land Development, Residential Subdivisions, Golf
Courses, Marinas, Church Or Religious Developments ...
Commercial Banks, Conduits, Mortgage Banks,
Life Insurance Companies, SBA Lenders, Real Estate Investment Trusts, Leasing
Companies, Pension Funds, Finance Companies, Savings And Loan Institutions,
Investment Banks, Private Investors, Thrift Institutions, Venture Capital Funds,
Blind Pool Funds...
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(APARTMENTS AND COMMERCIAL
PROPERTIES)
LTV's To 80%. Margins From 0.80% Over
Corresponding Treasury Indexes. Amortization Periods To Thirty Years.
Possibility Of Full Amortization. Must Be Newer, Grade "A" Properties With Loan
Amounts Of $2,000,000 Or More. Points As Low As 0.5%. Loan Terms Vary Greatly
According To Property Type, Location, Operating History And Debt Service
Coverage. Please Call Or E-Mail With Specific Scenarios.
Please See
MONEY MARKET INDICES For Current Index Values.
Please See
INFORMATION CHECKLIST
For Documentation Requirements.
OVERVIEW:
For Commercial Properties Of Lower Grade
Than Insurance Quality, Both Fixed And Adjustable Loans Will Carry A Rate And/Or
Margin Of Approximately 0.25% Higher Than Those Listed Below For Apartment
Loans. Actual Rates Will Depend Upon Specific Property Type, Age, Amenities,
Location And Loan Amount. Please Call, E-Mail Or Fill Out Our
On-Line Application For Specific Quotes.
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COMMERCIAL LOAN RATES - Non-Recourse
INSURANCE COMPANY QUALITY / CONDUIT FIXED RATES
Multi-Family Housing and
Mobile Homes may have amortization periods as long as 30 years. Other property
types will usually have maximum amortization of 25 years (although 30 years is
sometimes possible.) Terms can be 5, 7, 10 or 15 year due dates or 15 or 20 year
fully amortized. Minimum Loan Amount of $2,000,000. Call or e-mail for
other pricing scenarios and pre-payment provisions.
Conduit spreads have widen
significantly during this market turmoil. FNMA, FHLMC or our bank programs may
now be the most cost effective solutions.
| LTV |
Fixed Rate |
Spread |
Points |
Index |
Notes |
| 80% |
5.374- 6.574 |
1.15 - 2.35 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Apartments,
30 Yr. Amortized, Due in 5, 7 or 10 years |
| 80% |
5.374 - 6.774 |
1.15 - 2.55 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Mobile Home Parks,
30 or 25 Yr. Amortized, Due in 5, 7 or 10 years |
| 80% |
5.674 - 6.774 |
1.45 - 2.55 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Student or
Military, 30 or 25 Yr. Amortized, Due in 5, 7 or 10 years |
| 80% |
5.474 - 6.774 |
1.25 - 2.55 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Anchored Retail,
30 or 25 Yr. Amortized, Due in 5, 7 or 10 years |
| 80% |
5.474 - 6.774 |
1.25 - 2.55 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Office,
30 or 25 Yr. Amortized, Due in 5, 7 or 10 years |
| 80% |
5.574 - 6.874 |
1.35 - 2.65 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Industrial,
30 or 25 Yr. Amortized, Due in 5, 7 or 10 years |
| 80% |
5.824 - 7.074 |
1.60 - 2.85 |
0.50 to 1.00 |
5, 7 Or 10 Yr. T-Notes |
Self-Storage,
30 or 25 Yr. Amortized, Due in 5, 7 or 10 years |
Mezzanine Financing may be available in conjunction with the
above for a maximum Loan to Value of 90%!
30 Year, Fully Amortized,
Fixed Rate Options
| LTV |
Start Rate |
Margin |
Points |
Index |
Notes |
| 80% |
6.560 to 6.980 |
FIXED |
0.750 to 2.000 |
N/A |
30 Yr. Fully Amortized for Loan Amounts
over $1M |
| FNMA program - Rates are
dependent upon Debt Service Coverage and Loan-to-Value Ratios. Point
trade-off is 12 basis points in rate, or 0.12%, per point paid. Low
additional lender fees. Yield spread penalty is the norm. Step-Down
penalty available with rate increase. Low deposit fees at acceptance of
Letter of Interest. |
Numerous Other Fixed and Adjustable Apartment
Loan Options
| LTV |
Start Rate |
Margin |
Points |
Index |
Notes |
| 80% Purchase Refinance and Cash-Out |
5.374 * |
1.15 |
0.500 to 1.000 |
N/A |
30 Yr. Amortized Due in 15 Years, Fixed
for 10 Years |
| 80% Purchase Refinance and Cash-Out |
5.910 * |
N/A |
0.500 to 1.000 |
N/A |
30 Yr. Amortized Due in 7 Years |
| 80% Purchase Refinance and Cash-Out |
5.920 * |
N/A |
0.500 to 1.000 |
N/A |
30 Yr. Amortized Due in 10 Years |
| 80% Purchase Refinance and Cash-Out |
6.320 * |
N/A |
0.500 to 1.000 |
N/A |
30 Yr. Amortized Due in 15 Years |
| 80% Purchase Refinance and Cash-Out |
6.349 * |
N/A |
0.500 to 1.000 |
N/A |
30 Yr. Fully Amortized |
| 85% Purchase** 80% Refinance or
Cash-Out |
5.920 |
2.500 |
0.750 to 1.000 |
6 Month LIBOR |
5 Yr. Fixed then ARM |
| 85% Purchase** 80% Refinance or
Cash-Out |
6.100 |
2.500 |
0.750 to 1.000 |
6 Month LIBOR |
7 Yr. Fixed then ARM |
| 85% Purchase** 80% Refinance or
Cash-Out |
6.110 |
2.500 |
0.750 to 1.000 |
6 Month LIBOR |
10 Yr. Fixed then ARM |
| 85% Purchase** 80% Refinance or Cash-Out |
6.110 |
N/A |
0.750 to 1.000 |
N/A |
15 Yr. Fully Amortized |
| 80% |
6.239 |
1.400 |
0.750 to 1.000 |
6 Month LIBOR |
6 Mon. ARM, 30 Yr.
Amortized, Due in 15, Convertible to Fixed |
| 80% |
7.138 |
2.350 |
0.750 to 1.000 |
12 MAT |
6 Mon. ARM, 30 Yr.
Amortized, Due in 15, Convertible to Fixed |
| 80% |
5.880 |
1.800 |
0.750 to 1.000 |
3 Yr CMT |
30 Yr. Amort., Due in 15, Fixed for 3 |
| 80% |
6.000 |
1.750 |
0.750 to 1.000 |
5 Yr CMT |
30 Yr. Amort., Due in 15, Fixed for 5 |
| 80% |
6.110 |
1.700 |
0.750 to 1.000 |
7 Yr CMT |
30 Yr. Amort., Due in 15, Fixed for 7 |
| 80% |
6.300 |
1.650 |
0.750 to 1.000 |
10 Yr CMT |
30 Yr. Amort., Due in 15, Fixed for 10 |
| 80% |
6.300 |
FIXED |
0.750 to 1.000 |
N/A |
15 Yr. Fully Amortized |
* Rates assume a minimum loan amount of $2,000,000 or more. For loan amounts
between $1,000,000 and $2,000,000, an additional 0.25% or more would apply.
These apartment loans also available for mobile
home parks.
** Apartment
Purchase loans to 85% if loan to appraised
value is 80% or less.
** Minimum Loan Amount of $750,000. Available in
most metropolitan areas of California as well as select areas near Portland, OR,
Seattle, WA, Salt Lake City, UT, Denver, CO and Dallas TX. These apartment
loans also available for mobile home parks.
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| 11th District Cost of Funds |
3.280% |
| 6 Month LIBOR (London Interbank
Offered Rate) |
2.849% |
| 12 MAT - 12 Month Average Treasury |
3.528% |
| 3 Year CMT - Constant Maturity Treasury |
2.830% |
| 5 Year CMT - Constant Maturity Treasury |
3.240% |
| 7 Year CMT - Constant Maturity Treasury |
3.520% |
| 10 Year CMT - Constant Maturity Treasury |
3.920% |
| 2 Year Treasury Notes |
2.470% |
| 5 Year Treasury Notes |
3.190% |
| 7 Year Treasury Notes |
3.474% |
| 10 Year Treasury Notes |
3.900% |
| 30 Year Treasury Notes |
4.630% |
| Prime Interest Rate |
5.000% |
* Last Dated
05/27/2008 -- Please
request daily update if needed.
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Property Information
| | Tenant Information | |
Cash Flow Information | | Desired Loan Terms
Approximate Property Value
Date Acquired and Purchase Price
Existing Debt -- Amount, Type, Due Date
Actual and Effective Age (if major
improvements or rehabilitation performed.)
Type of Construction (Concrete Tilt-Up,
Steel, Wood Frame & Stucco, Etc. -- Should include roofing material,
presence of elevators, and any amenities.)
Square Footage - Gross & Rentable
Present/Intended and/or Potential Usage
Location -- Actual Address, Neighborhood
Characteristics, Location Map if available
Environmental Concerns -- Previous Usage
(underground storage tanks?, location abnormalities, flood zones?) Any
previous environmental studies conducted?
Miscellaneous Factors -- Parking
facilities, ingress and egress, other pertinent transportation factors
(depending upon property type/usage)
Photos, if available. 35MM or Digital
preferred, but even Polaroids would be helpful
Tenant
Information:
Rent Rolls -- Actual rents per occupant
-- Current and Prior Two Months
Lease terms and conditions -- Length,
concessions, type
Occupant make-up: For Commercial
Properties -- Business specialties, square footage per individual occupant,
etc.. For Apartments -- Number of 1, 2 and 3 BR Units/Number of Baths, and
Corresponding Square Footage's
For Hotels and Motels: Average Daily
Room Rates and Average Occupancy Rates -- Present and Historical
Cash Flow
Information:
Year-to-Date Income and Expense
Statement and Budget
Previous Three Years Income and Expense
Statements
Personal Financial Statements on the
Principal(s)
Desired Loan
Terms:
Interest Rate
Amortization Length and Acceptable Due
Date
Point Structure
Total Loan Amount Required
Approximate Loan To Value
Any additional pertinent information to
clarify the project nature and loan request.
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On-Line Apartment or Commercial Application
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