General Terms & Pricing for Commercial Real Estate


Up to $15,000,000

Interest Rate

Fixed interest rate, or spread versus U.S. Treasury security to be determined based upon individual project risk

Rate Lock

Locked at commitment


5 to 20 years


5 to 20 years; 25 years may be available with newer properties or certain property types


Up to 85% of appraised value; Credit tenant properties according to tenant

Application Fee


Asset Types

Multi-family, Single, Tenant/Credit Tenant, Office, Quick Serve Restaurants/Casual Dining with long-term corporate leases

Debt Coverage

1.20x based on stabilized net operating income; exceptions on lender’s approval


No lockout; Fee is typically from 1% to 3% depending on rate and term fixed

Operating Reserves

Typically none; determined on individual project/loan structure


First lien position, lease assignment; other collateral upon lender’s approval


Full Recourse; Properties with credit tenants or low LTV may qualify for reduced or non-recourse

Subordinate Debt

Allowed with Lender’s approval

Standard Provisions

Third party reports (appraisal, survey, etc); Escrows for taxes and insurance; Minimum occupancy requirements; Annual financial reporting on property operations and borrowers


Subject to lender’s consent and payment of assumption fee


Underwriting decisions made within 48 hours of submission of complete package


60-day allowance; Typical closing within 48 hours of submission of all third-party reports and appropriate documentation