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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
§
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.
§
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
§
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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Page
Content: Commercial Mortgage Rates, commercial real estate loan rates,
commercial mortgages, business property loans, mortgage lenders,
commercial loans, mortgage lender commercial property,
commercial mortgage loans, direct commercial lender. |
|
|
| Additional
Information |
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 based on Interest Index plus lowest bps in the spread
. Rate of Loan 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. (A
bps is one-hundredth (.01%) of a percentage point.. 100 bps equals
1%)
(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.
(6)
For an Interest Only Loan, Valuation of Property, Paid in Cash
Equity, and Rent Roll are prime determining factors for loan.
(7)
The Combined Loan to Value (CLTV=First Lien and Mezzanine Loan)
cannot exceed as indicated. The Mezzanine Loan may require backend
payments, and lockout period.
REQUIREMENTS
FOR 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
-
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.
-
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
-
Land
Debt to Value
-
Simple
recap of Construction Costs
-
An
available appraisal or letter of opinion.
-
Digital
Photos of subject property and surrounding area.
Please
click this link to revisit our HOME
PAGE.
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Interest Rates Shown are computed as of: March 24, 2010
To update to the Proximate Market Conditions use the following formula
in conjunction with the Index Rates above.:
Interest Rates = Index
Rate plus Basis Point Spread or bps (A bps is one-hundredth (.01%) of a
percentage point.)
-
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.
-
Mortgagor
may be required to make annual contributions to reserves.
-
Fixed
Rate-No Points Loans are assumable
with the payment of 1% of the outstanding loan balance, subject to
credit and underwriting..
-
Fixed
Rate-No Points Loans required
a Special Purpose Entity, and Yield Maintenance.
-
A
non-refundable Project Analysis and Evaluation Fee is required for
each property prior
to the issuance of a Letter of Intent for each Loan Program, and
will vary depending upon the loan amount.
-
A
Due Diligence Fee
at execution of Term Sheet will be required.
-
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.
-
Some
transactions may be interagency.
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 Interest,
subsequent Term Sheet, or Loan are subject to Capital Funding of
America’s sole determination and discretion, without limitation or
exception.
*IMPORTANT:
Not all Programs are available through Capital Funding of America in
every state.
|
|
Page
Content: Commercial Mortgage Rates, commercial real estate loan rates,
commercial mortgages, business property loans, mortgage lenders,
commercial loans, mortgage lender commercial property,
commercial mortgage loans, direct commercial lender. |
