|
SMALL BALANCE COMMERCIAL |
COMMERCIAL PORTFOLIO |
Eligible Property
|
Office, Industrial, Retail, Self-Storage, and Mixed
Use |
Office, Industrial, Retail, and Mixed Use |
Loan Size
|
$1,000,000 - $5,000,000 |
$1,000,000 - $25,000,000 |
Amortization
|
30 Years |
30 Years |
Term
|
3, 5, 7, 10 Year Fixed |
5, 7, 10 Year Fixed |
DSCR
|
1.25x Purchase
1.30x Refinance |
1.20x Industrial, Warehouse,
Office, R&D Office Flex Space, Anchored Retail, and
Single Credit Tenant Retail
1.25x Medical Office
1.30x Unanchored Retail |
Owner's Draw
|
N/A |
N/A |
RECC Origination Fee
|
1.0% on all loans, collected at closing. Call for
quote on PAR pricing |
None |
Loan Security
|
First Lien Only, no secondary
financing |
First Lien Only, no secondary
financing |
Loan-to-Value
|
70-75% Purchase
65-70% Refinance |
80% LTV Industrial, Warehouse,
R&D Flex Space, Single Credit Tenant Retail, and
Anchored Retail
75% LTV for Office,
Medical Office, and Unanchored Retail |
Credit Score
|
Min. 660, with no mortgage
lates, public records |
Min. 600, with no mortgage
lates, public records |
Rate Lock
|
N/A |
60 day lock available for
0.125% add to rate.
1% due at time of lock |
TI/LC
|
Office $1.00/sq. foot
Retail $0.40/sq. foot
Industrial $0.25/sq. foot |
Office
$1.00/sq. foot
Retail $0.40/sq. foot
Industrial $0.25/sq. foot |
Cap Ex
|
Office $0.20/sq. foot
Retail $0.18/sq. foot
Industrial $0.10/sq. foot |
Office
$0.20/sq. foot
Retail $0.18/sq. foot
Industrial $0.10/sq. foot |
Prepayment Penalty
|
5yr. - 5,4,3,2,1
3 yr. - 3,3,3
7 yr. - 5,5,4,4,3,2,1
10 yr. - 5,5,4,4,3,3,2,2,1,1 |
5yr. - 5,4,3,2,1
7 yr. - 5,5,4,4,3,2,1
10 yr. - 5,5,4,4,3,3,2,2,1,1
|
Interest Only Option
|
N/A |
N/A |
Deferred Maintenance
|
Health and Safety |
Health and Safety |
Management
|
Minimum 5% Management Fee |
Minimum 5% Management Fee |
Recourse
|
Full |
Full |
3rd Party Fees Collected at
Signed Application
|
All Properties $4,500
Mixed Use $4,700 |
$10,000 for 3rd Party Fees
$2,500 Application Fee |
Processing Fee
|
$2,500 (Covers lender legal, Processing and Docs)
collected at closing |
$2,500 (Covers lender legal, Processing and Docs)
collected at closing |
Assumability
|
1% Fee |
1% Fee |