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NY: (212) 564-1257
MIAMI: (305) 961-1177
City Commercial Mortgage

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City Commercial Mortgage

NY: (212) 564-1257
MIAMI: (305) 961-1177
Large Apartment Buildings

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.

Apartments


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