AMORT

This program is specifically designed for properties that are either stabilized or are in need of minor to moderate renovation or other value-add strategy. For value-add situations, our bridge loan program can be used to fund moderate rehabilitation or re-tenanting where the Borrower requires short-term debt to finance renovations to complete a value add strategy and secure permanent financing through a FHA or Fannie Mae execution.

This program is designed for the acquisition or refinance of multifamily, subsidized housing, and moderate income housing properties. The interest rate is fixed for the entire loan term. The loan amount may be up to 85% of the purchase price (or outstanding debt for refi's) plus transaction costs and proposed repairs. For cashout refi the max LTV is 80%.

This program is designed for construction or substantial rehabilitation of multifamily properties. Substantial Rehabilitation is defined as a project that includes rehabilitation costs equal to 15% or more of post-rehabilitation appraised value or replacement of two or more major building components.

This program is designed for construction or substantial rehabilitation of healthcare related facilities.
a) Facility must provide continuous oversight of residents and offer three meals per day.
b) Facility must be licensed by the state in which it is located.
c) No more than 25% of units in a board and care home can be independent living units (units with complete kitchen and bath facilities).
d) Nonresident day care may not exceed 20% of gross floor area and 20% of gross income.