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Apartment
Buildings..
Met wants your commercial mortgages.
 | PREFERRED LOAN SIZE: $300,000 to
$10,000,000 (Larger loan considered on a case by case
basis).
| LOAN LIMITS: The loan may not exceed
80% of value or the amount that produces a minimum Debt
Service Coverage ratio of 125%
| OCCUPANCY REQUIREMENT: The property
must have had at least 85% occupancy for the past twelve
months. Student housing loans are acceptable but subject to
70% LTV and, as high 25 years but may be as long as 30 years
for newer properties.
| LOAN TERM: 5, 7, 10, 15 year balloons,
or 25 year frilly amortizing loans. Amortization's are
generally 25 years but may be as long as 30 years for newer
properties.
| RATES: Interest rates are set at a
fixed spread over 5 to 10 year treasury rate, between
185-300 BP over treasury. Please call for current spread
requirements.
| GUARANTEES: Non-recourse except for
normal carve-Outs (For loans over $1, 000, 000
| ASSUMABLE: Yes i certain cases, with
consent and a 1% assumption fee.
| RESERVES: Tax and insurance reserves
and required. Also for some lenders a replacement reserve
account is to be established and funded at a minimum rate of
$175 per unit per year.
| PREPAYMENT: Prepayment restrictions and
yield maintenance provisions will apply but vary based on
selected maturity. |
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© 1997 Met Mortgage Corp.
Commercial Institutional Financing through out the US. Private Funding Hard Money, Apartments, Bridge Loans, Equipment, Office, Retail, Self Storage, Health, Hotel/ Motel, Industrial &
Mixed-Use. Note and Mortgaging Purchasing.
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Property Criteria
LTV's, Rates, Terms
Apartments
Bridge Loans
Equipment
Factories
Health Care
Mixed-Use
Office Buildings
Shopping Centers
Self Storage
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