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Loan
Amount |
Minimum $1,000,000.
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Loan
Term |
7 to 10 years. |
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Amortization |
Up to 30
years |
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Eligible
Properties |
Multifamily Dwellings; minimum 12
units. |
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Borrower |
Single assets, single purpose
entity. |
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Occupancy |
All properties must be 85% occupied,
leased up for 12 months minimum. |
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Recourse
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Non-recourse, with the exception of
an indemnity for environmental matters and fraud. |
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Commercial Space
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No more than
20% square footage or gross income. |
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Origination
Fee |
1% of loan amount. |
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Reports
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Require appraisal, structural
engineering and environmental reports. |
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Assumability |
Assumable, subject to approval and
applicable fees. |
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Loan to
Value |
Minimum 80% |
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Loan to Purchase
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Maximum 85% of cost subject to 80%
LTV. |
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Debt Service Coverage
Ratio |
Minimum 1.20 to 1 |
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Rate Lock
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Rates are fixed one day prior to
closing at no additional fee. Longer term rate locks are
available. |
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Prepayment |
Lock out period with yield
maintenance or defeasance. |
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Pricing
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Contact your
OneCap representative for a price quote. |
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