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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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| Request a Quote Today! |
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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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Security and privacy protected
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No cost or obligation
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| Commercial Learning Center |
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Home >
Commercial Loan Center Refinance or Purchase |
Banc Series West Coast
Multifamily Program Overview
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Customized apartment financing
and mobile home park financing available for properties
located in core markets of California, Oregon and
Washington. The Banc Series West Coast program provides
highly competitive terms delivered through a streamlined
"deal making" underwriting process.
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Aggressive pricing - won't be beat on rate
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DSCR calculation based on P&Ls, not on tax returns
- Fast local decision making
- Fixed rate terms up to 15 years
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Low LTV interest rate reductions
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Lower DSCR (1.20) maximizes loan dollars
- 90 day rate lock at Letter of Intent
- 30-year amortizations
- Limited prepayment penalty
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Banc Series West Coast Program Guidelines
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$500k - $5mm (larger loans considered)
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1.20 minimum DSCR
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Up to 75% LTV
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90 day interest rate lock at time of LOI
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3, 5, 7, 10, and 15 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 lower leveraged deals)
- 660 minimum credit score
- Loan converts to adjustable rate at the end of
fixed term based on 6-month LIBOR
- .50% quarterly rate cap
- Interest rate floor is equal to start rate
- 10% lifetime interest rate cap
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90% minimum occupancy required
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HAP regulatory agreement properties okay
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Limited seismic reports
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Mixed Use with up to 20% commercial income and
square footage acceptable. Five apartment units
minimum required
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Mobile home parks acceptable
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Impounds for tax and insurance not required
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Replacement reserves not required
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A, B, and C property types considered
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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.
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Minimum 2 star quality park for MHP
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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 West Coast Apartment loan program that
program guidelines and highlights don't tell you.
Pluses
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Quick (at application) extended rate locks
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Fairly flat approval process (i.e. no multi-level
committee meetings, etc.)
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Lower rates for lower leveraged loans
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Terms rarely change from LOI
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Limited inspections (e.g. no engineering report)
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DSCR based on P&Ls, not on tax returns
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Use annualized rent roll, not historical income, for
recently stabilized properties
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Minuses
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Tertiary markets ineligible
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Tax returns required
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Global DSCR calculation
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Minimum liquidity and net worth requirements
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Property condition and location are important to
approvability
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Annual financial reporting requirements
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Which Program Is Best For You
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 Which
one of our apartment loan programs is best for
you? It depends on what you are looking for in a
loan (e.g. interest rate, amortization, prepay,
cost). It also depends on property (e.g.
location, age, condition, debt service) and
sponsor (e.g. credit score, financial strength,
experience) characteristics. By providing some
basic information about yourself, your property
and what you are looking for in an apartment
loan, we can help you decide which one of our
programs is best for you. |
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Let us help you decide
by providing the following information: |
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2 years and YTD income and expense statement (P&L)
for the subject property
- Current rent roll for subject property
- Interior and exterior photos
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Personal financial statement
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Schedule of real estate owned
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Brief narrative highlighting multifamily ownership
experience
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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, program guidelines and interest rates 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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