M&T Realty Capital Corporation® is an active originator of conduit loans. When we arrange the conduit financing, we also act as a borrower-advocate for any issues that may arise post-closing.
Multifamily properties with five or more residential rental units, including:
Residential care facilities, including:
Characteristic Terms1 | Bridge Loan Program |
---|---|
Minimum loan!amount | $5,000,000 |
Maximum Loan-to-Value (LTV) | 80%. Loans will be sized based on the assumption that the source of the bridge loan repayment will be an Agency or FHA/HUD loan. Generally, the maximum allowable Bridge Loan will be at least 5% less than the estimated amount of the Agency or FHA/HUD permanent loan. |
Minimum Debt Service Coverage Ratio (DSCR) |
1.00x (based on a floor rate determined on a case-by-case basis, which is generally in the 6%-7% range). |
Loan term | Minimum 12 months; maximum 24 months. Extensions are available, subject to performance thresholds. |
Amortization | Interest-only |
Rate type | Variable, floating over 1-month LIBOR2 |
Recourse | Loan proceeds greater than 65% LTV will be recourse. Loan proceeds less than 65% LTV may be non-recourse with acceptable sponsor credit. and full-term available |
1 All loans and all terms referenced herein are subject to receipt of a completed application, credit approval and other conditions.
2 Subject to change at discretion of lender.
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