| LOAN AMOUNT | Over $6 million |
| LOAN TERM | Up to 30 years |
| AMORTIZATION | Up to 30 years. Interest-only options also available |
| MINIMUM DSCR | 1.25x |
| MAXIMUM LTV | Up to 80% |
| RATE STRUCTURE | Fixed and adjustable rate options available |
| ELIGIBLE PROPERTIES | Multifamily, minimum five units |
| ELIGIBLE BORROWER | Single Asset Entity |
| OCCUPANCY REQUIREMENTS | 85% physical occupancy and 70% economic occupancy required |
| TAX & INSURANCE ESCROWS | Monthly deposits required. May be waived if certain criteria are met |
| REPLACEMENT RESERVES | Underwritten at a minimum $250 per unit per annum |
| RECOURSE | Nonrecourse |
| COMMERCIAL SPACE | Maximum 35% of net rentable area and EGI (after applying 10% vacancy rate) |
| REQUIRED REPORTS | Appraisal, Property Condition Assessment, Phase I Environmental |
| PREPAYMENT | Yield Maintenance and declining prepayment available |
| ASSUMABLE | Subject to approval and 1% fee |
| SUBORDINATE FINANCING | Not allowed without written approval |
| SUPPLEMENTAL LOANS | Eligible for secondary financing after 12 months |
| PRICING | Tiered Pricing Matrix. More favorable terms available for higher DSCR and lower LTV |
| RATE LOCK | Standard 30- to 180-day commitments |
| APPLICATION FEE DEPOSIT | $20,500. Covers estimated processing and legal fees |
| ORIGINATION FEE | Minimum 1% |
|
| GOOD FAITH DEPOSIT | 2% of Loan Amount |
