STANDARD LOAN PROGRAM: $500,000 to $20,000,000.
SMALL LOAN PROGRAM: $100,000 to $500,000.
TYPES OF PROPERTIES: Apartments, Office, Retail, Industrial, Mixed Use.
TERM: Up to 15 years with a 25 year amortization.
RATES: Market rates, currently in the 7 to 7 ½ % range.
LTV: 70% on most with up to 75% on apartments.
APPRAISALS/THIRD PARTY REPORTS: Willow will order any third party reports; MAI appraisals, environmental, engineering, etc.
UP FRONT COSTS: There is a small application fee, and Borrower must pay all 3rd party inspection/report fees.
UNDERWRITING STANDARDS AND DUE DILIGENCE: Normal bank underwriting criteria apply. Full package expected.
FEES AND POINTS: 1 to 2%, paid to Willow/Union.
GEOGRAPHICAL LOCATIONS: As of July 1, 2009 this program will be limited to the Eastern U.S. However, plans are to expand this program to the West Coast are under consideration.
Showing posts with label Term Sheet. Show all posts
Showing posts with label Term Sheet. Show all posts
Monday, July 6, 2009
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