A Southern California multifamily originator will lock rate for stabilized apartments at 4.55% fixed for 7 years. Units located from Santa Barbara to the Mexican border will be considered up to 75% of value and a 1.15 dcr. Loan requests under 55% LTV will net a 15 basis point savings during the initial term. Non-recourse is available by exception. All loans self-liquidate over 30 years. Mixed use will be considered when the commercial components do not exceed 50% of the net rentable.
Transaction Size: $1,000,000 – $7,000,000
Rate: 4.55% fixed
Loan Term: 30 years
Amort: 30 years
Max LTV: 75%
Min DCR: 1.15
Property Types: Multifamily
Geography: Southern California