General Terms & Pricing

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 10 years


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


Up to 75% of appraised value; Credit tenant properties according to tenant.

Application Fee


Asset Types

Multifamily, Single Tenant/Credit Tenant, Multi-Tenant Retail with National Tenants, Quick Serve Restaurants/Casual Dining with long term corporate leases

Debt Coverage

1.25x 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

Operating Reserves

Typically none except for Multi-family properties; 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; Average closing with the submission of all third-party reports and appropriate documentation is 35 Days.