Whether you are a non-bank lender, credit union, CDFI, CDC, loan broker, or real-estate broker, our products bring real value to your business by offering rates and terms to satisfy your customer’s needs and win deals
Our funding partner directly funds the loan and thus the selling lender does not have to use its own capital. This transactional approach with our funding partners allows the selling lender to maintain a broad client relationship.
Selling lender books the first mortgage loan on its balance sheet, then sells it to the funding partner.
|Funding Partner||Morgan Stanley||Impact 504 Loan Fund||City First|
|Loan Type||CRE Purchase or Refinance||CRE Purchase;|
|1st mortgage loan amount||No min|
Max $10 million
Max $3 million
|$500 thousand – $10 million|
|Rate||Up to 25-year fixed||25-year fixed||10-year fixed|
Must be located in NMTC Zone or minority/female owned
|Max Loan-to-Value||60%||60% – 65%||60%|
|Debt Service Coverage Ratio||1.2 DSCR||1.0 – 1.1 DSCR||1.20 OC / 1.30 Global DSCR|
|Credit Score||680 FICO||650 FICO||660 FICO|
|Amortization||25-year fully amortizing fixed rates||25-year fully amortizing fixed rates||25-year amort / 10-year fixed rate|
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