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Multi-Family

Small Balance Loan Program

Special Offer

Sun West is expanding its commercial lending platform to serve the growing Multi-Family / Small Balance Loan (MFSBL) segment. Special compensation will be available during a three-month promotional period, starting on April 5, 2017. Call our program manager or your Account Executive today to learn more.

Eligible Properties

Acquisition or refinance of conventional multi-family housing with 5 residential units or more, including conventional housing with tax abatements and Section 8 vouchers, and cooperatives in the five boroughs of New York City and Long Island.

Underwriting Guidelines

  • Minimum FICO score of 650
  • Net worth equal to loan amount
  • Liquidity equal to nine months of payments
  • Debt Coverage Ratio and Loan-To-Value see below:
Minimum Amortizing DCR Maximum LTV
Top SBL Markets 1.20X 80%
Standard SBL Markets 1.25X 80%
Small SBL Markets 1.30X 70%
Very Small SBL Markets 1.40X 70%
* Maximum 75% LTV for Acquisitions

Loan Structure

  • $2.5 million to $7.5 million (Call for loan amounts between $1.0 and $2.5 million)
  • 20-year hybrid ARM with initial 5-, 7-, or 10-year fixed-rate period
  • 5-, 7-, or 10-year fixed-rate loan
  • Amortization up to 30 years
  • Cash-out options
  • No underwriting floors in top markets
  • Declining prepayment options
  • Non-recourse with standard carve-out provisions
  • 60-120 day rate lock period available

Promotional Period

  • Applications started from April 5, 2017 to June 30, 2017 will be eligible for special 1.5X standard compensation
  • $14,978 per closed deal between $2.5 and $7.5 while offer is valid
  • Call for pricing on loans between $1.0 and $2.5
  • See for yourself how easy it is to get your client started with an application (15 minutes or less)
  • Sun West provides all loan processing and underwriting

Eligible Borrowers/Borrowing Entities: Individuals who are U.S. citizens; Limited Partnerships (LP); Limited Liability Companies (LLC); Single Asset Entities (SAE); Special Purpose Entities (SPE); Tenancy-in-Common (TIC) with up to five unrelated members; and Trusts (Irrevocable Trusts and Revocable Trusts with a warm body guarantor).

For more information on the Multi-Family Program and Guidelines, please contact:

Patrick Fitzsimonds | Direct: (562) 317-0106 / 0105
Email us at: multifamily@swmc.com
Sun West Mortgage Company, Inc.
18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884
SW-1: Our No Overlays Program

 

Equal Housing Opportunity This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

This information is intended for professional use only. Sun West Mortgage Company, Inc. (NMLS ID #3277, www.nmlsconsumeraccess.org) is licensed by California Department of Business Oversight and holds a Finance Lenders Law License (#6030119) and is licensed by the California Bureau of Real Estate License (#00793885). Sabal TL1, LLC, an affiliate of the Sabal group of companies, is the approved Freddie Mac SBL Seller/Servicer through which the above outlined program is being made available. The information in this document is not a replacement or substitute for information found in the Freddie Mac Multifamily Seller/Servicer Guide. Terms set forth herein are subject to change without notice. Please refer to www.swmc.com/swmc/disclaimer.php and www.nmlsconsumeraccess.org/EntityDetails.aspx/company/3277 to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. In all jurisdictions, the principal (Main) licensed location of Sun West Mortgage Company, Inc. is 18000 Studebaker Road, Suite 200, Cerritos, CA 90703, Phone: (800) 453-7884.