Phone: (323) 728 - 7700 Fax: (323) 908 - 4006
Multi- Family Loan Programs
Rates updated: August 27, 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 |
|---|---|---|---|
4.74% |
3.25 |
5 years |
0.5 - 1 |
4.79% |
2.70 |
7 years |
0.5 - 1 |
| 5.10% | 2.45 | 10 years | 0.5 - 1 |
| 6.00% | - | 35/35 | 0.5 - 1 |
Loan to Value up to 80%
Yield Maintenance Prepayment
$500,000 - $5,000,000
*250,000 - $500,000 add .50bp
70% Loan to Value - Purchase
65% Loan To Value - Refinance
1.20 DCR
30 year Fully Amortized
Loan Fee only .75% (3/4 of 1 point)
ADJUSTABLE
* Margins subject to change
|
|
Rate | Margin | Prepay |
| 6 Mo. Libor | 5.00% | 3.45 | 4,3,2,1 |
|
POINTS |
0.75 |
Floor: Start Rate
CAP: 1% Semi Annual - 6% lifetime
FIXED/Hybrid
1.25 DCR
30 year Fully Amortized - fixed convert to ARM
* Start rate Margin not quoted on fixed
|
|
Rate |
Margin After fixed term | Prepay |
| 3 yr. Fixed Hybrid | 5.39% | 3.15 + LIBOR | 4,3,1 |
| 5 yr. Fixed Hybrid | 5.49% | 3.15 + LIBOR | 5,4,3,2,1 |
| 7 yr. Fixed Hybrid | 6.08% | 3.15 + LIBOR | 5,5,5,4,3,2,1 |
| 10 yr. Fixed Hybrid | 6.59% | 3.15 + LIBOR | 5-5-4-4-3-3-2-2-1-1 |
| 15 yr. Fixed Hybrid | 7.49% | 3.15 + LIBOR | 5-5-4-4-3-3-2-2-1-1 |
|
POINTS |
0.75 |
* 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 |
5.50%* | 5.50%* | 5.76%* | 6.19%* | 6.63%* |
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 75% Loan to Value - Purchase
up to 65% Loan to Value - Refi
Adjusts quarterly with a .5% periodic cap and life cap of 11%
1.25 Debt Coverage Ratio
* - Loans over $1,000,000 - rates reduced by .25%
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 |
3.75% |
4.99% |
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 | 6.00% | 3-2-1 |
| 5 yr. Fixed | 6.88% | 5-4-3-2-1 |
| 10 yr. Fixed* | 7.25% | 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 | 5.25% | 2.00 | 5% |
| 3 yr. Fixed Hybrid | 6.25% | 2.00 | 5% |
| 5 yr. Fixed Hybrid | 7.25% | 2.00 | 5% |
|
POINTS |
2 - 3 |
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: August 27, 2010