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| Featured: National Insurance Company Lender |
| Overview: | Fantini & Gorga acts as a correspondent throughout New England for a major national life insurance company that is actively seeking to place loans on most property types. It competes aggressively in secondary and tertiary, as well as major, markets. Our lender stands out from the competition by offering a wide variety of terms and amortizations at competitive rates that are locked for 75 days at application, and a streamlined process with low transaction costs. These loans often compete favorably with bank deals. |
| Loan Amount: | $2,000,000 to $30,000,000 (80% of deals are $15,000,000 or less) |
| Terms: | 3,5,7,10, 15/15 or 20/20 fully amortizing |
| Amortization: | Typically. from 15 to 25 Years, with up to 30 Years available. For a more rapid amortization schedule such as 15-20 years, the lender offers a lower rate; fully amortizing loans are a specialty. |
| Property Profile: | Multifamily, self-storage, medical office, industrial, multi-tenant retail, office, single tenant retail (small, medium, and, selectively large box) |
| Underwriting Criteria: | Up to 65% LTV |
| Interest Rates: | Highly competitive for each loan term; priced on a 30/360 basis |
| Rate Lock: | At receipt of signed loan application; lock is good for 75 days; good faith deposit refunded at closing. |
| Prepayment: | Yield Maintenance, with some declining prepayment deals available. |
| Interest Only: | Limited Interest Only on select low leverage loans. |
| Forward Rate Locks: | Up to 12 months, adding 1-2 bps / month on average. Great for stabilized assets waiting for prepayment window to open or construction take outs. |
| Recourse: | Typically, partial recourse, with non-recourse available on low leverage deals. |
| Observation: | Diverse range of loan structures and terms, non-conventional real estate collateral, and consistent application and closing processes. |
