Small Balance Loan Program

Loan Amount $1 – $6 Million; Up to $7.5 million in select markets
Term Fixed Rate: 5, 7, 10-year terms

Hybrid: 20-year term with initial 5, 7, or 10-year fixed-rate period

Loan-to-value (LTV) 80% in Top and Standard Markets

75% Acquisition/70% Refinance in Small and Very Small Markets

Loan Purpose Acquisition or Refinancing (cash out available)
Rate Lock 60- to 120-day rate-lock period available (35 business day rate hold period)
Minimum DSCR Top Markets: 1.20x; Standard Markets: 1.25x;
Small Markets: 1.30x; Very Small Markets: 1.40x
Amortization Up to 30 years (partial and full-term interest only options available)
Prepayment Declining schedules and yield maintenance available for all loan types.
Eligible Borrower Individuals who are U.S. citizens: Up to $6 million
LPs: LLC; SAEs; SPEs; TICs with up to 5 unrelated members; and trusts (irrevocable trusts and revocable trusts with warm body guarantor).
Single Asset Entities: Between $6 to $7.5 million
Eligible Property Multifamily with minimum five residential units. Will expand the qualifications for an SBL Link Loan to include 2 to 4 unit non-contiguous properties under certain conditions. Commercial space is allowed up to 40% of the net rental income. Must have 90% physical occupancy over the 3-month trailing period.