Owner Occupied Commercial Properties • May occupy less than 51% • Loan amounts up to $15 million for purchase or refinance. Cash-out refinance allowed in most circumstances • Loan term up to 25 years with fixed or variable rate financing • Up to 85% LTV considered for newer multi-purpose properties; 55%-65% LTV for special use properties. • Third party lease income taken into consideration.
Investor Properties • Loan amounts up to $6 million for purchase, refinance or cash-out refinance • Loan terms of 15-20 years with fixed or variable rate financing • Up to 75% LTV for multi-purpose and 65% LTV for special use properties • Property types include: retail, office, light industrial, warehouse, self-storage, some mixed-use • Debt Service 1:25:1 (NOI) based on current leases • Excellent personal credit required with minimum credit scores ranging from 600-680
Stated Income Program • Loan amounts up to $2.0 million for purchase, rate/term refinance, or cash-out refinance • Loan terms up to 30 years with fixed or variable rate financing • Up to 90% LTV • Property types include: retail, office, warehouse, auto repair, drycleaner, some mixed-use. • Excellent personal credit required with minimum credit score of 660 • Income as stated must support personal and RE debt 1.5:1 • Property income and market rents must support property debt 1:1
