|
Commercial Mortgage Loans |
|
|
 |
| Why Choose Capital Assets,Inc |
 |
| Capital Assets,Inc has the knowledge,
expertise and strategic relationships required to
provide you with the most competitive rates and terms
for your commercial property loan. |
-
Multiple commercial financing options
- Competitive interest rates, terms and costs
- Knowledgeable and seasoned commercial mortgage
specialists
- Certainty of execution
- Convenient electronic loan process saves you
time and money
|
|
|
|
| Request a Quote Today! |
 |
| Provide some basic information
about the property and commercial real estate financing you’re
seeking and we will provide a no cost no obligation
quote. |
-
Security and privacy protected
-
No social security number required
-
No credit inquiry
-
No cost or obligation
|
 |
|
|
| Commercial Learning Center |
 |
|
|
|
|
|
|
 |
|
|
Home >
Commercial Loan Center Refinance or Purchase |
Banc Series California Apartment Loan Program
|
One of the largest and most
diverse markets for multifamily housing, California
properties require more than just a "one size fits all"
approach to financing. The Banc Series California
Apartment Loan program provides the most competitive
rates, terms and flexibility in underwriting guidelines available to
help maximize your investment in California multifamily
housing.
-
Specialized financing for CA properties
-
Industry low 1.15 DSCR
-
Interest only payment options
|
-
Reduced rates for lower leveraged deals
-
Rate lock at LOI
- Reduced and no prepay options
|
|
|
 |
 |
Banc Series California Apartment Loan Program Guidelines
|
-
$500k - $7mm (larger loans considered)
-
1.15 DSCR
-
Up to 75% LTV
-
Rate lock at approval
-
3, 5, and 7, year fixed rate terms
-
30 year self amortizing terms
-
Interest only up to 5 years
- Flexible prepay structure - pay up to 20% per year without a
prepay penalty
- 660 minimum credit score
- Loan converts to adjustable rate at the end of
fixed term based on 12 MAT
- .50% quarterly rate cap
- Interest rate floor is equal to start rate
- Lifetime cap is the greater of 5% over the start
rate or 9.5% plus any price increases
|
-
90% minimum occupancy required
-
Limited seismic reports (liquefaction report)
-
Mixed Use with up to 50% commercial income and
square footage acceptable. A minimum of five apartment units
required.
-
Impounds for tax and insurance not required
-
Replacement reserves not required
-
A and b property types considered
-
Eligible property types include, 5+ unit traditional
apartment complexes, condo properties without
fractured ownership, town homes, duplexes,
high-rise. Properties with more than 25% studios
considered on an exception basis.
-
Properties with off-street parking only are
prohibitive
-
Personal recourse required (non-recourse considered
for lower leveraged deals)
|
|
|
|
|
|
|
What You Need to Know
|
Program descriptions,
highlights and underwriting guidelines are helpful when
considering if an apartment loan program is right for
you and your property. However, they don't always tell
the whole story. Below is what you need to know about
the Banc Series California Apartment Loan program that
program guidelines and highlights don't tell you.
Pluses
-
Most competitive program for CA multifamily
properties (rates, terms, prepay, costs, etc.)
-
Typically able to obtain higher loan dollars on debt
service constrained loans
-
Recently relaxed seismic requirements for both
property and third party reports
-
Local underwriting and decision making
|
Minuses
-
Best rates and best terms available. Therefore,
underwriting is picky about asset quality and
strength of sponsorship
-
Slightly longer processing times
-
Tax returns required
-
Global DSCR calculation
-
Minimum liquidity and net worth requirements
|
Financing provided for
properties located in the metropolitan areas of Los
Angeles, San Diego, Orange, Santa Barbara, Ventura,
Sonoma, San Jose, Napa, San Francisco, Contra Costa,
Alameda, San Mateo, Santa Clara and two counties in
Washington State (King and Snohomish Counties).
Other markets in metro California
considered on a case by case basis. |
|
|
|
|
| Apartment loan availability --
including LTV, DSCR, and loan size -- may vary depending
on property location, economic conditions, exposure, and
other variables that may negatively influence risk. Loan
programs and program guidelines are subject to change.
Information provided is not an offer to make a loan and
should be used for informational purposes only. Meeting
the minimum program eligibility requirements doesn't
automatically qualify you for a loan. |
|
|
|
