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Retail (Correspondent)
| Property Types: |
Retail (Correspondent) |
| Lending Area: |
Nationwide |
| Loan Size: |
$500,000 - $100,000,000 |
| Loan to Value: |
Up to 85%, typically 80% |
| Loan Terms: |
3, 5, 7, 10, 15, 30, Year terms available |
| Amortization: |
Up to 30 Years. Typically 25 Year. |
| Securitized by: |
First Mortgage Lien |
| Interest rate: |
Starting at U.S. Ten Year Treasury Bill + 200 bps |
| Fees: |
Typically 1 point + 3rd parties |
| Prepayment: |
Yield Maintenance/Defeasance/Declining Prepayment structures available |
| Recourse: |
Non-Recourse (with standard carve-outs) /Full Recourse – Depending on strength of Property and Borrower |
| Assumption: |
Generally permitted, subject to lender’s approval with a 1% fee |
| Closing Period: |
45-60 Days from executed application |
| Unique Features: |
Can go up to 100% financing with cross collateralization |
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