The "270/295" Libor Adjustable
The "270/295" Libor Adjustable program provides a 10 year floating rate loan competitively priced at either 2.70% or 2.95% over the 1 year Libor index for loans from $500,000 to $5,000,000. Multifamily loans are priced at 2.70% over and commercial property loans (Retail, Office, & Industrial) are priced at 2.95% over 1 year Libor. Flexible loan underwriting criteria are applied in determining the loan amount and structure. Unlike many other loan programs in the market, all loans under the "270/295" Libor Adjustable, including the commercial properties, are underwritten based on a 30 year amortization schedule. Although this program is generally designed for stabilized or near stabilized properties, extensive operating statement history is not a mandatory requirement.
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