Mezzanine Program

Don’t lose an acquisition or refinance opportunity because your mortgage loan amount falls short. Our Advantage Program's mezzanine option enables you to receive fast, simple and reliable mezzanine capital, without the headache and expense typically associated with the mezzanine financing process of the burden of seller seconds.

Eligible Properties

  • Multifamily & Mobile Home Parks
  • No mixed-use

Maximum LTV
85% combined

Loan Amount
Up to 10% of appraised value

Min/Max Loan Size
$100,000 to $400,000

Mezzanine Coupon

  • 12.95% fixed (7 and 10 year term)
  • 13.15% fixed (5 year term)

Mezz Term
5, 7 and 10 year balloons available

Amortization

  • A Note—30 year schedule
  • B Note—30 year schedule

Minimum DSC

1.07x combined

Reporting Requirements
Monthly until B note is securitized.
Quarterly thereafter.

Administrative Fee
$1,000 (in addition to registration fee)


Origination Fee
 1% of B Note

Credit Score
700 and above

Recourse
100% for both A and B Notes
(regardless of LTV)

Prepayment Penalty

  •  A Note—Step down percentage
  • B Note—Yield Maintenance
  • B Note may be retired independently

Lockout
Lockout is 2 years from B Note closing

Asset Quality
NFR “Good or Better”