Phone: (323) 728 - 7700 Fax: (323) 908 - 4006
Multi- Family Loan Programs
Rates updated: March 12, 2010
*Due to Market Conditions
All Margins subject to change
FHA/Fannie/Freddie Programs
$750,000* +
* Margins subject to change
|
FIXED RATE |
Spread | TERM | POINTS |
|---|---|---|---|
5.66% |
3.25 |
5 years |
0.5 - 1 |
5.84% |
2.70 |
7 years |
0.5 - 1 |
| 6.15% | 2.45 | 10 years | 0.5 - 1 |
| 6.00% | - | 35/35 | 0.5 - 1 |
Loan to Value up to 80%
Yield Maintenance Prepayment
$1,000,000 - $5,000,000
up to 75% Loan to Value
30 year Amortization - 7 or 10 year fixed convert to ARM
1.20 DCR
ADJUSTABLE
* Margins subject to change
|
|
Rate | Margin | Prepay |
| 12 MAT | 3.691% | 3.25 | LO, 1, 1, 1, 1 |
| 6 Mo. Libor | 3.348% | 2.95 | LO, 1, 1, 1, 1 |
|
POINTS |
1.00 |
Floor: 1% below Initial Interest Rate, but not less than 4.00%
Ceiling: 5% above initial interest rate, but no less than 10.00%
FIXED
* Margins no longer quoted on fixed
|
|
Rate |
Prepay |
| 5 yr. Fixed | 6.34% | 5,4,3,2,1 |
| 7 yr. Fixed | 6.68% | 2yr LO,5,4,3,2,1 |
| 10 yr. Fixed | 6.90% | 5-5-4-4-3-3-2-2-1-1 |
|
POINTS |
1.00 |
* Fixed Rate Program Converts to Adjustable for the remaining term based on the Margin for the corresponding index
$500,000 to $5,000,000
* Margins no longer quoted on fixed
One Point
|
|
3yr. Fixed (CMT) |
5yr. Fixed (CMT) |
7 yr. Fixed (CMT) |
10yr. Fixed (CMT) |
15/15 Fixed (CMT) |
Rate |
5.75% | 6.125% | 6.625% | 7.125% | 7.50% |
6 Mo LIBOR after Fixed period |
2.75 | 2.75 | 2.75 | 2.75 | 2.75 |
|
Prepayment
Penalty |
2-1 | 3-2-1 | 4-3-2-1 | 5-4-3-2-1 | 5-4-3-2-1-1-1-1 |
30 year Fully Amortized Loan maximum
up to 65% Loan to Value
Adjusts quarterly with a .5% periodic cap and life cap of 11%
1.25 Debt Coverage Ratio
Loans are Fixed for the term mentioned above, then convert to variable for the remaining term.
$250,000 - $2,500,000
30/10
ADJUSTABLE
| Index |
|
Rate/Floor |
Prepay |
| 3 Mo. LIBOR |
4.75% |
5.50% |
1% exit fee |
| Points: |
1.00 |
Adjusts Quarterly at .50% Cap per quarter
Annual Rate Cap Adjustment: 2.00%
Lifetime Rate Cap: 12.50%
FIXED
* Margins no longer quoted on fixed
|
|
Rate |
Prepay |
| 3 yr. Fixed | 6.75% | 3-2-1 |
| 5 yr. Fixed | 7.50% | 5-4-3-2-1 |
| 10 yr. Fixed* | 7.50% | 5-4-3-2-1* |
|
POINTS |
1.00 |
* 10 year Fixed Rate Program resets interest & Prepay every 5 years
65% LTV - Purchase
DCR: 1.20
Small Loan Program
$100,000 - $1,000,000
|
|
Rate |
Margin over PRIME after Fixed period | Prepay |
| Adjustable | 5.50% | 2.00 | 5% |
| 3 yr. Fixed Hybrid | 6.75% | 2.00 | 5% |
| 5 yr. Fixed Hybrid | 7.75% | 2.00 | 5% |
|
POINTS |
2.00 |
30/15 year Term - Hybrid Program
up to 75% Loan to Value
Adjustable Loans can covert to fixed for a $500 fee
Adjustable Margin is 2.00+ PRIME
Prepayment Penalty can be waived for a 2 point fee
1.25 Debt Coverage Ratio
Loans are Fixed for the term mentioned above, then convert to variable for the remaining term.
LOAN FORMS
Required Documentation Checklist
Checking and Savings Account Schedule
Authorization to Release Information
Financial Statement Certification
Confidential Information Statement
Rates updated: March 12, 2010