Multi Family New Construction Loan Details
- 83.3% Loan To Coast
- Interest-only construction loan that automatically converts to 40-year permanent financing
- 40 Year Amortization
- 40 Year Term (no balloon)
- No maximum loan amount
- Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
- “Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
- No personal liability (non-recourse)
- Negotiable pre-payment terms
- 1:20 Minimum Debt Service Coverage
- This loan is always assumable
- Third-party expenses and loan costs are financible
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