| Vidco Capital |
| Commercial Mortgage |
| Large Multifamily Non-Recourse $5,000,000 to $30,000,000 Loans to $100,000,000 available, different terms may apply. Maximum LTV: 80% Minimum DSCR: 1.20 Recourse: None, except for standard carve-outs pertaining to fraud, misrepresentation, environmental issues and bankruptcy matters. Loan Terms: 5, 7 and 10 year balloons. Amortization: 25 to 30 years. Assumptions: Permitted with the approval of the Lender and with the payment of an Assumption Fee. Prepayment: Locked out for four years or for two years from the date the loan is securitized, whichever date occurs first. Prepayment Penalty: Defeasance. Escrows: Required for Real Estate Taxes, Replacement Reserves, Insurance Premiums and required immediate repairs. Secondary Financing: Not permitted, unless approved by the Lender. Borrower: A Special Purpose Single Asset Entity whose sole asset is the property being financed. Key Principal: Required. Appraisal: Required in a narrative format that meets FIREEA Standards. Environmental and Property Conditions Reports: Required. Application Fees: $5,000.00 (non-refundable) Legal Fees: The Borrower is responsible to pay Lender's legal costs associated with the closing of the loan. Insurance: Property Hazard Insurance, Rent Loss Insurance (equal to one year's total rents) and Liability Insurance required. Flood Hazard Insurance: Required if property is in a federally designated flood hazard zone. Earthquake Insurance: Required if it is determined that the property lies within an earthquake hazard area. Ground Leases: Permitted if ground lease is for a minimum term of 30 years and can be subordinated to Lender's loan. 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. |
| Expected Fees: $8,900 - $15,000 Loan Fee (includes limited scope third party reports, environmental insurance and lenders legal $2000 - $5000 Application Fee 1% Origination Fee |
| Your Source For Commercial Mortgages |