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Privacy Policy
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Eligible Properties
Apartments, Condos, Mobile Home Parks, Offices, Hotels/ Motels, Warehouses, Retail/Shopping Centers, Medical Buildings as well as Senior Care Facilities
Loan Amounts
$1,000,000 minimum (outside Puget Sound $2,000,000)
Interest Rates
Adjustable rate loans are 5.25% to 6.0% and are based on 1 year Treasury Bills, or LIBOR with spreads ranging between 1.00% - 3.00%
Fixed rate loans are between 5.75% - 6.75% based on spreads of between 1.50% to 2.50% over the corresponding US Treasury Bills
Construction loans are priced at between 1.00% - 2.0% over Prime or LIBOR
Loan Term
10 to 25 years
Amortization
Up to 30 Years
Liability
Non-Recourse loans are available
Fee Structure
Loan fees are based on the size and the type of transaction, generally, between 1.0% to 2.0%
Prepayment
Fixed rate loans will have a prepayment fee
Assumption
Generally, allowed for 1.0% fee and approval of credit.
Underwriting
Debt coverage ratio is based on the projects current net operating income sufficient to cover the debt service at ratios ranging between 1.10 to 1.35 with a maximum loan to value ratio of 75%
Bridge Financing
Short-term bridge loans are financed through our private lenders. Interest rates on these types of loans are quoted at between 2.0% to 3.0% over Prime. Mezzanine, equity participation, and joint venture financing is also available. Please call for details
Loan Closing
Between 30 to 60 days from loan application
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