A term facility on five or more units, amortised over thirty years with a five, seven or ten year fixed period. This is a commercial credit rather than a residential one, and it is underwritten as such.
Priced per deal rather than off a posted sheet — send the rent roll and the trailing twelve months and the desk will come back with a quote.
Program highlights
Figures are the programme maximum at a glance. A file rarely qualifies at the maximum on two axes at once, and the guideline in force on the lock date governs. Nothing here is a commitment to lend.
Questions
Because a multifamily term facility is priced against the property's own numbers, not off a rate sheet. Send the rent roll and trailing twelve months and the desk quotes it.
Usually, with a carve-out guarantee. Non-recourse is considered on stabilised properties with strong coverage — ask before you structure it either way.
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