|
|
|
Eligible Properties:
- Existing apartment properties
with 5+ units.Limited mixed use acceptable
- No properties with deferred
maintenance in excessof 5% of the value
- Interim loans available for
reposition or properties with deferred maintenance
in excess of 5% of value
Loan Size: $500,000k to $5,000,000
Highly competitive Rate Plans Including:
- 6 month; 3, 5, 7, and 10 year fixed
terms followed by floating rate periods
up to 30 years
- 15 year fixed rate fully amortizations
- 3 to 5 year interest only structures
available
Prepayment:
- Fixed declining, ( no yield maintenance,
defeasance)
Personal Guarantees:
- Negotiable - based on Loan to Value
Loan to Value:
- 80% of purchase, rate & term
refinance
- 75% for cash out refinance
Minimum DSC
- 1.20 based on the actual loan constant
- Can use market rents and vacancy for
underwriting
Fees:
- 1% origination
- Third party costs of $3,500
- Property condition report required
based on asset condition/quality
Rate Lock:
- 60-day forward lock available requiring
only a $500 deposit.
- Required information for loan quote:
- Historical and current income and
expenses
- Pictures
- Current Rent Roll
|
70% to 90% loan to value
- Purchase or Refinance
- Cash out refinance considered
- Rate of prime + 1% floating
- Term 15 to 20 year amortizations with 5
year balloon note
- Interest only available for up to 12 months
-
Automatic renew available on a case by
case basis
|
|
|
| |
Eligible Properties:
- Small non-credit tenant properties,
national tenant properties, and mixed
use
- Interim loans available for reposition
or properties with deferred maintenance
in excess of 5% of value
- Nationwide
Loan Size: $500,000k to $10,000,000
Highly competitive Rate Plans Including:
- 3, 5, 7, and 10 year fixed terms
- 20 to 30 year amortizations
Prepayment:
- Fixed declining, Yield maintenance,
Defeasance, and No Prepayment Programs
available
Personal Guarantees:
- Based on loan to value, loan amount,
and program
Loan to Value:
Minimum DSC
- 1.25 based on the actual loan constant
- Interim loans available for reposition
and rehab plays
Fees:
- 1% origination
- Third party fees vary based on loan
program and loan amount
- Property condition report required based
on asset condition/quality
Required information for loan quote:
- Historical and current income and
expenses
- Pictures
- Personal financials on guarantors
|
Eligible Properties:
- Multi-tenant properties
- Suburban and Urban Locations
- Nationwide
- Interim loans available for reposition
or properties with deferred maintenance
in excess of 5% of value
Loan Size: $500,000k to $10,000,000
Highly competitive Rate Plans Including:
- 3, 5, 7, and 10 year fixed terms
- 20 to 30 year amortizations
Prepayment:
- Fixed declining, Yield maintenance,
Defeasance, and No Prepayment Programs available
Personal Guarantees:
- Based on loan to value, loan amount,
and program
Loan to Value:
Minimum DSC
- 1.25 based on the actual loan constant
- Interim loans available for reposition
and rehab plays
Fees:
- 1% origination
- Third party fees vary based on loan program
and loan amount
- Property condition report required based
on asset condition/quality
Required information for loan quote:
- Historical and current income and expenses
- Pictures
- Personal financials on guarantors
|
|
|
Texas
Loan Star is closing deals. Make yours the next one. Come
see some of our recently closed loans and how our aggresive
loan programs can work for you too!
Read
some testimonials from our clients and the successful deals
that were funded with our innovative loan program here at
Texas Loan Star
|
|
