Small Balance Loan Program
Sun West is expanding its commercial lending platform to serve the growing Multi-Family / Small Balance Loan (MFSBL) segment. Special compensation has been extended until September 30, 2017. Call our program manager or your Account Executive today to learn more.
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.
- 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:
- $2.5 million to $7.5 million (Call for loan amounts between $1.0 million and $2.5 million)
- 5-, 7-, or 10-year fixed-rate loan
- 20-year hybrid ARM with initial 5-, 7-, or 10-year fixed-rate period
- Amortization up to 30 years
- Cash-out options
- Assumable loans
- Declining prepayment options
- Non-recourse with standard carve-out provisions
- 60-120 day rate lock period available
- Deals closing before September 30, 2017 will be eligible for special 1.5X standard compensation
- $14,978 per closed deal on loans between $2.5 million and $7.5 million while offer is valid
- Call for pricing on loans between $1.0 million and $2.5 million
- Sun West provides all loan processing and underwriting
- See for yourself how easy it is to get your client started with an application (15 minutes or less)
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).
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
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