Offices Properties
 

Loan Amount

$1,000,000 - $300,000,000

Interest Rate
View Today's Rates

Fixed at the comparable Term U.S. Treasury plus competitive
spreads (subject to market change); locked two days before
closing.  Early rate lock also available

Loan Term

3, 5, 7, 10 years; longer terms available on a case-by-case base

Amortization

Up to 30 years; older properties will receive a maximum
amortization of 25 years

Maximum LTV

Refinance: up to 85% (with cash out)

Acquisition

80% of loan to purchase price

New Construction

80% LTC value (completed)

Minimum DSCR

1.2x for most Multi-Family properties

Appraisal Report

Required; a summary appraisal format may acceptable

Environmental

Environmental reports are not required: however, environmental
insurance is required

Escrows

Required for monthly real estate taxes and property insurance;
replacement reserves are underwritten but not collected; tenant
improvements and leasing costs are generally not required
but evaluated on a case-by-case basis

Non-Recourse

Except for standard carve-outs

Assumable

Subject to approval and a 1% fee

Security

First Mortgage on fee simple interest

Prepayment

Two year lockout from the time of securitization; defeasance for
the remaining term, with the last six months open to prepayment
without penalty

Supplemental Financing

Will be allowed with approval after 12 months

Fees

THE REVIEW OF A FILE DOES NOT CONSTITUTE A FULLY UNDERWRITTEN LOAN FILE.  ACCORDINGLY, THIS IS NOT A COMMITMENT TO LEND MONEY.  THIS CONDITIONAL LOAN UNDERWRITING IS BASED SOLELY ON THE INFORMATION SUBMITTED.  THIS LOAN FILE IS SUBJECT TO A SATISFACTORY UNDERWRITING OF ALL ORIGINAL OR REQUIRED DOCUMENTS AND A QUALITY CONTROL REVIEW.  IF THE ITEMS OR DOCUMENTS SUBMITTED ARE NOT CONSIDERED SATISFACTORY, OR THERE ARE CHANGES THAT WOULD ADVERSELY AFFECT THE FINANCIAL CONDITION OF THE BORROWER, THE PHYSICAL CONDITION OF THE PROPERTY OR THE MARKETABILITY OF THIS LOAN, THE APPLICATION MAY BE AMENDED OR CONSIDERED VOID IN THE SOLE DISCRETION OF UNDEWRITERS PREFERRED COMMERCIAL TRUST AND/OR ITS INVESTORS.  THIS RATE SHEET IS NOT TO BE CONSTRUED AS A CONSUMER ADVERTISEMENT UNDER REGULATION Z 1026.24.  NOT INTENDED FOR THE GENERAL PUBLIC.