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Commercial Mortgage Loans |
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| Why Choose Capital Assets,Inc |
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| 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. |
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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
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| 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. |
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| Commercial Learning Center |
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Home >
Commercial Loan Center Refinance or Purchase |
Banc Series Nationwide Program Overview
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Available nationwide in most
primary and secondary markets. The Banc Series Nationwide
Apartment Loan program
provides competitive, low cost apartment financing for
properties with five or more units, mixed-use
commercial properties with less than 25% of revenue
generated from commercial use and
mobile home park
communities.
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Nationwide lending platform
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Fast decision making
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Flexible underwriting guidelines
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Low LTV interest rate reductions
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Secondary financing considered
- Customized financing for your unique situation
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Banc Series Nationwide Program Guidelines
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Apartment loans from $500k
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1.25 minimum
DSCR
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Up to 75% LTV
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Purchase or refinance with cash out
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Rate lock at time of LOI
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3, 5, 7 and 10 year fixed rate terms
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30 year amortization
- Step down prepay (e.g. 3,2,1)
- Personal recourse required (non-recourse
considered for exceptional sponsorship at 55% or
less LTV)
- 640 or better credit score required
- Loan converts to adjustable rate at the end of
fixed term based on 6-month LIBOR
- Semi-annual interest rate cap is 1%
- Interest rate floor is equal to start rate
- 6% lifetime rate cap over start rate
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90% minimum occupancy required
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Section 8 subsidized rents okay
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No earthquake, tuck under parking or PML
requirements
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Mixed Use with up to 50% commercial income and
square footage acceptable. Five apartment units
minimum required
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Mobile home parks acceptable
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HAP contract acceptable with strong sponsor
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Student housing properties acceptable
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Foreign Nationals up to 65% LTV
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Impounds for tax and insurance not required
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Replacement reserves not required
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Down payment gifts acceptable
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Seller financing permitted on a case by case basis
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A, B, and C property types considered
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What You Need to Know
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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 Nationwide Apartment Loan program that
program guidelines and highlights don't tell you.
Pluses
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Exception based underwriting
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Storied deals acceptable for strong sponsor
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Property exceptions (age, condition, structural)
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Lower rates for strong sponsorship, properties
located in major markets and low LTV
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Minuses
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Tax returns required
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Global DSCR calculation
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Higher rates for properties located in smaller or
tertiary markets
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Minimum liquidity and net worth requirements
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Tier l Pricing
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Reduced Tier l pricing
available for the following locations and sponsor
profile.
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700 credit score / net worth > loan amount / 5%
pre-closing liquidity / must own at least two other
multifamily properties or have substantial
additional income sources / no Bankruptcies,
foreclosures, short sales, tax liens, charge-offs
- Two year stabilization / subject property must
not have more than 25% studio units and no brick or
unreinforced concrete buildings
- Property locations: Coastal CA, Salt Lake,
Chicago, Boston, DC, Seattle, Minneapolis, Denver,
Portland, NY, Dallas, San Antonio, Austin
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| 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. |
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