• Existing apartment properties
• Mixed use properties - up to 25% non-apartment income
• Mobile Home Parks with 15+ pads

• 3, 5, 7 and 10 year fixed terms, followed by floating rate periods up to 30 years total
• 15 year fixed rate fully amortizing
• 3 and 5 year interest only structures available

Fixed declining (no yield maintenance or defeasance)
 

• Required

• Guarantee drops to 50% with LTV below 75%

• No recourse at 50% LTV

• Fixed processing costs of $3,500 for apartment buildings, $5,500 for mobile home parks
• Property condition report required based on asset condition/quality

• 80% for purchase, rate & term refinance
• 80% for cash out refinance

• 60-day forward lock available requiring a $500 fee.

• Not required

• Typically 45 days from executed application