Specializing in many types of financing programs, including working with a Non-recourse loan (Non recourse loan), Apartment mortgage loan, Joint venture real estate, Commercial equity loan, Commercial rehab loan, Structured financing, and Shopping center loan. Of course we're known for our experience in dealing with: land development loans, hard money loans, apartment loans, industrial building loans, and real estate equity.

income property > adjustable rate loan with option to convert to fixed

Adjustable Rate with Option to Convert to Fixed Rate

Variable/Convertible Loan: This loan is a 10-year variable rate with an option to convert to a fixed rate at any time within the first 3 years to 3, 5, 7 or 10 year fixed rate term at No Additional Fee. The variable rate is based on the 3 Month LIBOR plus a spread. Please call for current rates. No prepayment fee after the first year unless converted to the fixed rate.
Loan Fee is 1% for loans over $1,000,000

No Legal Fees, No Reserve Accounts & No Yield Maintenance

Product Description	Adjustable Rate with Option to Convert to Fixed Rate.
Minimum Loan Amount	$1,000,000
Maximum Loan-to-Value	75% commercial; 80% apartments
Minimum Debt Service Coverage	1.20
Loan Terms	10 years; 7 & 15/15 terms available
Loan Fee	1%
Amortization	25 – 30 years based on age & condition
Rates	Multifamily Interest Rates Commercial Interest Rates
Prepayment	Declining percentage over 3 to 5 years
Secondary Financing	Generally permitted with Lender approval
Assumability	Allowed with approval for 1% fee
Borrower	Any Legal Structure
Recourse	Generally required but may be negotiable
Lending Area	Nationwide, prefer population centers

 

Please contact an Account Executive

Rate and terms subject to change without notice