| VIDCO CAPITAL |
| Commercial Mortgage |
| Small Multifamily Non-Recourse $500,000 to $5,000,000 Property Types: Apartment buildings with 5 or more units, located in the continental United States Loan Amount: $500,000 to $5,000,000 60 Day Closing Interest Rate: Fixed at the comparable term U.S. Treasury, plus competitive spreads. Subject to market change. Locked two days before closing; early rate lock available. Loan Term: 5, 7, 10 years, longer terms available on a case by case basis. Amortization: Up to 30 years. Older properties will receive a maximum of 25 years. Maximum Loan to Value: Refinance up to 80%, Acquisition the lesser of 85% of loan to purchase or 80% of appraised value. Minimum DSCR: 1.20 Appraisal Report: Required. A summary appraisal format is acceptable. (Do not order a new appraisal) Environmental: An environmental report is not required; however, environmental insurance is required. Escrows: Required for real estate taxes and property insurance. Replacement reserves are generally required, but may be waived in certain cases. Recourse: Non-Recourse Except for standard carve-outs. Security: First mortgage on fee simple interest If your property does not fit the above criteria, please submit a loan request. We have other programs that may suit your needs. For new construction and rehabilitation please visit our construction page. |