Multifamily Lending

Multifamily Loan Program Matrix

	SMALL BALANCE MULTIFAMILY	FANNIE MAE DUS MULTIFAMILY
Eligible Property	Garden Style and Mid-Rise to High Apartments, Mobile Home Parks, and Mixed Use	Garden Style and Mid-Rise to High Apartments, and Mixed Use
Loan Size	$750,000 - $5,000,000	$750,000 - $50,000,000
Amortization Term	30 Years 3, 5, 7, 10, 15 Year Fixed	30 Years 5, 7, 10, 15 Year Fixed
Interest Only Feature	Up to 5 yrs	Up to 5 yrs
DSCR	1.20x 1.25x for Mobile Home Parks	1.20x
Owner's Draw	n/a	n/a
RECC Origination Fee	1.0%, collected at closing. Call for quote on PAR pricing	1.0%, collected at closing. Call for quote on PAR pricing
Loan Security	First Lien Only, no secondary financing	First Lien Only, no secondary financing
Loan-to-Value	80% Maximum	80% Maximum
Credit Score	Min. 680, with no mortgage lates, public records	Min. 660, with no mortgage lates, public records
Rate Lock	60 Day lock available, 1.0% due at time of lock	60 Day lock available, 1.0% due at time of lock
Replacement Reserves (Cap Ex)	$250 per unit	$200-$300 per unit
Prepayment Penalty	Graduated Step-down or Yield Maintenance	Graduated Step-down or Yield Maintenance
Interest Only Option	Add .125% to rate	Add .125% to rate
Deferred Maintenance	Health and Safety	Health and Safety
Management	Minimum 5% Management Fee	Minimum 5% Management Fee
Recourse	Full or Non-Recourse	Full or Non-Recourse
3rd Party Fees Collected at Signed Application	Loan < $2,000,000 - $3,500 Loan > $2,000,000 - $4,500 Mobile Home Parks and Mixed Use - $4,700	Loan < $1,000,000 - $3,000 Loan > $1,000,000 - $6,000
Processing Fee	$2,500 (Covers lender legal, Processing and Docs) collected at closing	Included
Assumability	1% Fee	1% Fee

RECC Loan Programs

Standard Multifamily

Small Balance Multifamily

Fannie Mae DUS / HUD

Office / Retail / Industrial

Small Balance Commercial

Multifamily Loan Program Matrix

Eligible Property

Loan Size

Amortization Term

Interest Only Feature

DSCR

Owner's Draw

RECC Origination Fee

Loan Security

Loan-to-Value

Credit Score

Rate Lock

Replacement Reserves (Cap Ex)

Prepayment Penalty

Interest Only Option

Deferred Maintenance

Management

Recourse

3rd Party Fees Collected at Signed Application

Processing Fee

Assumability

RECC Loan Programs

Amortization
Term

Replacement Reserves
(Cap Ex)