Freddie Mac
City Commercial Mortgage
Our Clients have been very successful with this program, and we offer it to give you a long-term fixed-rate assumable and non-recourse loan.
| CCM Freddie Mac Overview: | |
|---|---|
| LOAN AMOUNTS: | $1 Million - $10 Million in All Markets |
| MARKETS: | 50 States |
| LOAN PURPOSE: | Acquisition or Refinance (Cash-Out Available) |
| ELIGIBLE PROPERTIES: | Conventional multifamily housing with five residential units or more. Mobile Home Parks, Mixed-use subject to limitations. |
| LOAN TERMS: | 20 Year Hybrid ARM with Initial 5-, 7-, or 10-Year Fixed-Rate Period, 5-, 7-, or 10-Year Fixed-Rate Mortgage |
| INTEREST ONLY: | Partial Interest-Only, Full-term Interest-Only May Be Available |
| AMORTIZATION: | Up to 30 Years |
| PREPAYMENTS: | Declining Schedules and Yield Maintenance Available for All Loan Types |
| DEBT SERVICE: | 1.1x Top 1.25x Standard |
| COVERAGE: | 1.30x Small 1.40x |
| MAXIMUM LTV: | 80% Available in Top and Standard Markets |
| RECOURSE: | Non-recourse with Standard Carve-out Provisions |
| CREDIT: | Minimum FICO Score of 650 |
| OCCUPANCY | Minimum 90% Occupancy of Units for 90 Days Prior to Underwriting |