MULTI-FAMILY APARTMENT BUILDING FINANCING - National Lender / BestPricing
RED STAR COMMERCIAL REAL ESTATE FUNDING
Small Balance Multi-Family Loan Program $250,000-$25,000,000 Million.
For More Information Please Call 610-578-0715
Loan Amount: $250,000-$25,000,000 (Larger loan sizes available under similar program - ASK ABOUT YOUR SCENARIO!)
Liability: NON-RECOURSE or Recourse
Assumability: YES
Minimum Debt Cover: 125% of principal and interest payments
Maximum LTV: 75-80% - purchase or refinance
Available Loan Terms: 5, 7, 10, 15 or 30 years - INTEREST ONLY OPTIONS AVAILABLE!
Maximum Amortization: 30 Years
Mixed Use: up to 35% of the total building area can be commercial space, and up to 20% of the income can be derived from commercial leases.
Minimum FICO Score: 680 Minimum for each Key Principal
Minimum Liquidity: Nine (9) months of monthly principal and interest payments
Minimum Net Worth: Equal to the proposed loan amount
Acceptable Markets: Major urban centers nationally - Flexible, be sure to inquire
Occupancy: Minimum of 85%physical for 90 continuous days
This term sheet sets out the general guidelines of the multi-family loan program and is designed as an aid to prospective borrowers and other clients. This term sheet does not represent or imply a contract or an offer to lend funds. An offer to lend funds may only be made by a written commitment letter issued by Red Star Mortgage Corporation to a prospective borrower. This term sheet is subject to change at any time without notice at the sole discretion of Red Star Mortgage Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend.
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Gary Polao, Managing Director
RED STAR COMMERCIAL REAL ESTATE FUNDING
Multi-Family I NNN Lease Financing l CMBS Conduit Lender
(610) 578-0715 Direct
(610) 578-0716 Fax
E-Mail: gpolao@gmail.com
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