On July 1st 2010,  we restarted its Multifamily Construction Lending program.

Program Highlights are as follows:

Property Type: Garden, Mid-Rise, High-Rise

LTV/LTC: 75%

Rates: 5.5% and Up 

DSCR: 1.25x

Terms: 12-24 Months

Our primary conventional lending program allows borrowers the flexibility that most permanent lending programs do not.

The program works well with multifamily owners and developers who would like to take advantage of today's low FIXED interest rates, while also leaving open the possibility of converting their rental complex to condominiums, when the economics make sense.

Program Highlights are as follows:

Property Type: Multifamily, Office, Retail, Industrial

Prepay Penalty: NONE

Partial Releases: ALLOWED 

LTV/LTC: 75%

Fixed Rates: 5.0% and Up 

DSCR: 1.25x

Terms: 3-7 yrs