No-Limit Cash-Out Commercial Loans

Loan Type Conventional, Full Doc Min Loan $1,000,000 Max Loan $10,000,000 (#1) LTV 75% – 80% (#2) Interest Rate 6.50% – 7.50% Term Fixed, 25 – 30 Years (#3) Amortization 25 – 30 Years (#3) DSCR 1.25 Credit Score 650 PrePay Penalty? No Lock Out? No Interest Guaranty? No Exit fee? No Balloon? No Personal Guarantee? Yes Documents Required Copy of Purchase Contract & Earnest Money Check (if a purchase), Credit Report (less than 60-days old), Personal Financial Statement (less than 60-days old), last 2 years of Personal and Business Tax Returns, 2 years of Business Financials (Income/Expense Operating Statement & P&L Statement/Balance Sheet), Year-to-Date Business Financials, Appraisal, Environmental Report (if necessary, depending on property type & history), Rent Roll/Leases, Digital Pictures Closing Time 45 Days (or less) Lender Fee? Typically, 1 point (depending on deal, lender) Broker Fee? Typically, 1 point (depending on deal, lender) Eligible Properties Apartment Buildings (#4), Hotels, Light Industry, Motels, Office (Buildings or Condos), Retail, Self Storage, Warehouses, Other (#5) Eligible States All Other No Restrictions on Amount or Use of Cash-out Proceeds, No Payment Reserves and No Impounds (for Taxes & Insurance) Note #1 Up to $30,000,000 by exception Note #2 80% LTV: Apartment Buildings; 80% LTV: Other Eligible Properties if Owner-occupied; 75%: Other Eligible Properties if Not Owner-occupied Note #3 Up to 30 years, depending on the Remaining Economic Life of the property Note #4 5 or more apartments Note #5 A Tier 4 Property with Multiple Tenants (Ex., Subject-property, owned by Party A, with a Gas Station/Convenience Store, being leased by Party B, and a Restaurant, being leased by Party C) – on a case-by-case basis