Apartment Loan Rate Assumptions

Interest rates quoted represent the lowest rates available under the respective programs. Pricing available for excellent quality properties, strong sponsorship, and strong management. Property should be located in strong market sectors.

Fixed Rate Fully Amortizing Assumptions

-- Minimum loan size $3,000,000.
-- Rates quoted assume a 1% rate buy down. Add approximately 16 -25 BPS to the rate for PAR pricing.
-- Rates quoted assume most attractive rates available under the respective programs and assume: excellent property quality, strong sponsorship, excellent management and strong market conditions. Add 30 BPS to rate if more than one of the conditions are not met.
-- Prepayment is yield maintenance up to 6 months to the end of loan term, followed by 3 months of 1% outstanding balance, then 3 months of open prepayment.
-- Prepayment for 30 year fixed rate option is yield maintenance of 15 years then a 1% prepay for 14.5 years and then open for prepay with no penalty.

Agency Express Series Pricing Guidelines

-- Loan sizes $500,000-$3,000,000
-- Loan sizes below $750,000 are subject to pricing adjustments.
-- Rates quoted assume a 1% rate buy down. Add approximately 16-25 BPS to the rate for PAR pricing.
-- Rates quoted assume most attractive rates available under the respective programs and assume: excellent property quality, strong sponsorship, excellent management and strong market conditions.
-- Prepayment is yield maintenance up to 6 months to the end of loan term, followed by 3 months of 1% outstanding balance, then 3 months of open prepayment.
-- For a declining percentage prepay add approximately 20 BPS to the rate.

85% CLTV Mezzanine Option

A combined 85% CLTV is available with an in-house Mezzanine B Note, available only for qualified borrowers and properties.

-- Minimum combined DSCR of 1.05x.
-- 700 minimum credit score required.
-- B Note has a $100,000 minimum - $400,000 maximum loan size.