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Multifamily New Construction Loan
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Multifamily New Construction Loan Details:
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85% Loan-to-Cost
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Interest-only construction loan that automatically converts to 40-year permanent financing
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40 Year Amortization
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40 Year Term (no balloon)
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No maximum loan amount
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Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
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“Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
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No personal liability (non-recourse)
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Negotiable pre-payment terms
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1:20 Minimum Debt Service Coverage
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This loan is always assumable
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Third-party expenses and loan costs are financible
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