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PROPERTY TYPE |
FIXED LOAN TERM |
START RATE* |
LOAN AMOUNT |
INTEREST INDEX |
MINIMUM DEBT SERVICE COVERAGE (DSCR) |
LOAN TO VALUE |
LOAN TERN |
AMORTIZATION |
COMMENTS |
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CONSTRUCTION |
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Most Commercial Property
Types for Construction Projects |
Fixed |
4.95% |
$2,000,000 & up |
N/A |
1.25X |
90% |
Up to 36 Months |
Interest Only |
Construction Funding Convertible to Permanent Financing |
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MULTI-FAMILY |
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Apartment 5+ Units |
5 Year Fixed Rate |
3.43% |
$2,000,000 & up |
N/A |
1.25X |
Up to 80% (Refi 75%) |
5 Years |
30 Years |
4-1/2 Year Yield Maintenance |
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Apartment 5+ Units |
7 Year Fixed Rate |
4.03% |
$2,000,000 & up |
N/A |
1.25X |
Up to 80% (Refi 75%) |
7 Years |
30 Years |
6-1/2 Year Yield Maintenance |
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Apartment 5+ Units |
10 Year Fixed Rate |
4.42% |
$2,000,000 & up |
N/A |
1.25X |
Up to 80% (Refi 75%) |
10 Years |
30 Years |
9-1/2 Year Yield Maintenance |
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Apartment 5+ Units |
30 Year Fixed Rate |
Call
for Rate
|
$2,000,000 & up |
N/A |
1.25X |
Up to 80% (Refi 75%) |
30 Years |
30 Years |
15-1/2 Year Yield Maintenance |
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Apartment 5+ Units |
6 Month LIBOR ARM |
4.35% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 3-2-1 |
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Apartment 5+ Units |
3 Year Fixed Rate |
4.65% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 3-2-1 |
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Apartment 5+ Units |
5 Year Fixed Rate |
4.8% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 5-4-3-2-1 |
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Apartment 5+ Units |
7 Year Fixed Rate |
5.41% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 5-5-5-4-3-2-1 |
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Apartment 5+ Units |
10 Year Fixed Rate |
5.95% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 5-5-4-4-3-3-2-2-1-1 |
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Apartment 5+ Units |
3 Year Fixed Rate |
3.22% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
3 Years |
25 Years |
No Prepayment Penalty |
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Apartment 5+ Units |
5 Year Fixed Rate |
4.78% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
5 Years |
25 Years |
5 Year Yield Maintenance |
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RETAIL |
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Anchored or Unanchored and Single Tenant |
3 Year Fixed Rate |
3.21% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
3 Years |
25 Years |
No Prepayment Penalty |
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Anchored or Unanchored and Single Tenant |
5 Year Fixed Rate |
4.52% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
5 Years |
25 Years |
5 Year Yield Maintenance |
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Anchored or Unanchored and Single Tenant |
10 Year Fixed Rate |
5.93% |
$2,000,000 & up |
N/A |
1.25X |
Call for Details |
10 Years |
25 Years |
10 Year Yield Maintenance |
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OFFICE |
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Office & Medical Office Buildings &
Complexes |
3 Year Fixed Rate |
3.21% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
3 Years |
25 Years |
No Prepayment Penalty |
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Office & Medical Office Buildings &
Complexes |
5 Year Fixed Rate |
4.52% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
5 Years |
25 Years |
5 Year Yield Maintenance |
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Office & Medical Office Buildings &
Complexes |
10 Year Fixed Rate |
5.93% |
$2,000,000 & up |
N/A |
1.25X |
Call for Details |
10 Years |
25 Years |
10 Year Yield Maintenance |
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WAREHOUSE |
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Light Industrial & Warehouse |
3 Year Fixed Rate |
3.21% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
3 Years |
25 Years |
No Prepayment Penalty |
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Light Industrial & Warehouse |
5 Year Fixed Rate |
4.52% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
5 Years |
25 Years |
5 Year Yield Maintenance |
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Light Industrial & Warehouse |
10 Year Fixed Rate |
5.93% |
$2,000,000 & up |
N/A |
1.25X |
Call for Details |
10 Years |
25 Years |
10 Year Yield Maintenance |
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MOBILE
HOME PARKS |
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Mobile Home Parks |
6 Month LIBOR ARM |
4.35% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 3-2-1 |
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Mobile Home Parks |
3 Year Fixed Rate |
4.65% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 3-2-1 |
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Mobile Home Parks |
5 Year Fixed Rate |
4.80% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 5-4-3-2-1 |
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Mobile Home Parks |
7 Year Fixed Rate |
5.41% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 5-5-5-4-3-2-1 |
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Mobile Home Parks |
10 Year Fixed Rate |
5.95% |
$2,000,000 & up |
6 month LIBOR |
1.25X |
Up to 70% (Refi 65%) |
30 Years |
30 Years |
Prepayment 5-5-4-4-3-3-2-2-1-1 |
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MIXED
USE |
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Mixed Use Properties |
3 Year Fixed Rate |
3.21% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
3 Years |
25 Years |
No Prepayment Penalty |
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Mixed Use Properties |
5 Year Fixed Rate |
4.52% |
$2,000,000 & up |
N/A |
1.25X |
Up to 75% (Refi 65%) |
5 Years |
25 Years |
5 Year Yield Maintenance |
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Mixed Use Properties |
10 Year Fixed Rate |
5.93% |
$2,000,000 & up |
N/A |
1.25X |
Call for Details |
10 Years |
25 Years |
10 Year Yield Maintenance |
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BRIDGE
& MEZZANINE LOANS |
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Most Commercial Properties |
Adjustable |
10.00% |
$2,000,000 & up |
Prime |
1.25X |
90% |
Up to 60 Months |
Interest Only |
Rates Based upon Property Quality, Credit
Strength, & Feasibility |
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ADDITIONAL
NOTES
Interest
Rates Shown are computed as of August 22, 2011.
*Start Rate based upon the Property Quality, Credit Strength of
Applicant,
Feasibility
of the Project, and Exit Strategy.
Transactional Costs will vary with each loan, which include and
may not be limited to legal, title, survey, recording fees,
appraisal, environmental studies, structural engineering, site
inspection, and other third party reports.
Transactional
Costs may also include mortgagee’s legal and audit costs.
Loans
may require a Special Purpose Entity.
A
non-refundable Project Analysis and Evaluation Fee is required
prior to submission for a Letter of Intent for each Loan
Program,
and will vary depending upon the loan amount.
Each loan transaction is evaluated on a case-by-case basis and
may have a final Term Sheet that
may or may not reflected the terms above.
The
Loan to Value Ratios (LTV) are based upon the lesser of the
purchase price or the appraised valuation of the property.
Do not make financial decisions based upon this information and
the Commercial Mortgage Rates shown above.
Capital
Funding of America assumes no liability for any errors
or omissions made herein.
The
Mortgagor understands that the issuance of a Letter of Intent,
subsequent Term Sheet, or Loan are subject to Capital Funding of
America’s sole determination and discretion, without
limitation or exception.
The
material provided herein is solely informational, and shall not
be constituted
as an offer to
provide or the solicitation of an offer to make a loan.
Rates
and Programs are subject to change and withdrawal without
notice.
IMPORTANT:
Not all Programs are available through
Capital Funding of America in every state.
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REQUIREMENTS
FOR ISSUANCE OF A LETTER OF INTENT:
Refinancing:
§
Income statement and budget
reflecting a stabilized net operating profit
with explanation as to how achieved.
§
The amount of the present debt
for all mortgages, both first and
second mortgages.
§
The original paid in equity
provided at the initial acquisition date-no
matter how old.
§
Define any rehabilitation,
updating, or repairs that are going to be done
with the refinancing.
§
Outline any other liens, major
liabilities, etc. that are going to be paid off
with the refinance.
§
An available appraisal or letter
of opinion.
§
Digital Photos of subject
property and surrounding area.
Acquisitions:
§
Pro Forma Net Operating
Statement
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Historical income statements and
budgets reflecting stabilized net
operating profit with explanation as to how it was arrived.
§
Define any rehabilitation,
updating, or repairs that are going with the
financing.
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An available appraisal or letter
of opinion.
§
Digital Photos of subject
property and surrounding area.
New
Construction or Substantial Rehabilitation:
§
Pro Forma Net Operating
Statement
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Land Debt to Value
§
Simple recap of Construction
Costs
§
An available appraisal or letter
of opinion.
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NOTES
TO RATE SHEET:
(1) Maximum loan amount based upon appraised value
established by approved MAI appraisal, and/or the DSCR.
All Third Party Reports, i.e., appraisal, credit report,
environmental studies, property condition report, title,
and legal will be ordered by CFoA, and will be paid by
Mortgagor.
(2)
Start Rate is adjusted predicated on LTV, property type,
condition of property, stabilization, credit, DSCR, and
other loan dynamics. Rates are effective at the time
of rate lock-in. Yield maintenance, defeasance, or
stepped pre-payment fees may be required for early payoff.
(3)
Spread will vary with Property Type.
(4)
Lower LTV can have a downward effect on Interest Rate.
Appraisal and DSCR can affect the maximum loan available.
(5)
The loan has a balloon payment due at the end of the term
if indicated.
(6)
The borrower will be required to provide financial
information for the borrowing entity and the principals.
(7)
15 year loans are available on certain Property Types and
loan amounts. Please
check with a Loan Officer for details.
(8) Borrower will be required to advance payment
for preliminary business entity and personal credit reports.
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