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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 |
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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 |
