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INVESTMENT REAL ESTATE SERVICES
Design of Loan Products
Design of Loan Products
LOAN AMOUNT
$ 1 - $ 100 million; smaller and larger loans will be considered
TERM
5- to 30-year terms
80% for Conventional properties;
LOAN-TO-VALUE (LTV)
LTV varies by asset class or product type
Additional Programs:
Fannie Mae DUS Samll Loan Program
Fannie Mae DUS Multifamily Affordable Housing ("MAH") Preservation - Fixed Rate Loan
Fannie Mae Green Rewards Loan
Fannie Mae Moderate Rehab Loan
Fannie Mae Near-Stabilization Loan
Fannie Mae Near-Stabilization Loan
Fannie Mae Near-Stabilization Loan
Fannie Mae Structured Adjustable-Rate Mortgage Loan
Fannie Mae DUS Supplemental Financing Loan
Fannie Mae DUS Fixed Rate Loan Program
Fannie Mae DUS Fixed Rate Loan Program
Fannie Mae DUS Bond Credit Enhancement Loan
Fannie Mae DUS Student Housing Loan
For More information on the offerings, please contact agency@spherecrest.com
RATE LOCK
30- to 180-day commitments; borrowers may lock rate with the streamlined Rate Lock option
PURPOSE
Acquisition or Refinance
PRICING
Tiered pricing based on DSCR and LTV
AMORTIZING DSCR
1.25x for most markets (can reduce to 1.20x for certain markets)
AMORTIZATION
Upt to 30 years
RECOURSE
Non-recourse except for standard carve-outs
PREPAYMENT
| $1 - 9 MILLION
Step-Down Prepayment Penalty or discount interest rate pricing if borrower choosed Yield Maintence Options
| $9+ MILLION
Yield maintenance until securitized followd by 2- year lock out, defeasnance thereafter. No prepayment premium for final 90 days. If loan is not securitized within first year, then yield maintenance applies until the final 90 days. Yield maintenance without defeasance is available for securitiez loans at an additional costs
PROPERTY TYPES
Standard Multifamily, Student Housing, Manufactured Housing Communities, Cooperative Housing and Targeted Affordable Housing
ELIGIBLE BORROWER
Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding. Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.
Contact
910 Harvest Dr.
Blue Bell, PA 19422
215.402.6777
30daySOFR
3.96% ▲
WSJP
5YR TR
7YR TR
10YR TR
7%
3.62% ▼
3.82% ▼
4.06% ▼
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