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We consider each case on its own merits. As a general guide, we lend according to the following criteria:
| Details | Criteria |
|---|---|
| Loan Amount | $750,000 to $20,000,000 |
| Loan Terms | 3 to 24 months plus 12 month possible extension |
| Asset Type | Multifamily, Retail, Industrial, Office, Hotel, Self Storage, MHC |
| Security | First Mortgage, Pledge of Equity |
| Geographic Region | NY, NJ, CT, PA and and other major US cities |
| Borrower Entity | Special Purpose Entity |
| Loan-to-Value | Max to 75% |
| DSCR Requirement | Minimum 1.0x or funded interest reserve |
| Amortization | Interest Only |
| Interest Rate | Fixed or Floating |
| Minimum Fixed Rate | 9.99% |
| Floating Rate Floor | Greater of 5% or SOFR at time of closing for floating rate |
| Minimum Floating Rate Loan Spread | 4.99% |
| Origination Fee | Minimum 1% |
| Exit Fee | Minimum 1% |
| Prepayment | Freely Prepayable |
| Recourse | 100% (can be reduced in certain cases) and 100% bad boy |
If parts of your loan do not meet these parameters, this will not automatically result in an application being rejected. Please give us a call to discuss your loan in more detail.