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- Underwriters Preferred Commercial Trust
- About us
- BROKERS CORNER
Specialty Properties
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| Loan Amount: | $1,000,000 - $100,000,000 |
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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: | 5, 7, 10 years; longer terms available on a case-by-case basis |
| Amortization: | Up to 30 years; older properties will receive a maximum amortization of 25 years |
| Maximum LTV: | Refinance: up to 80%; acquisition: the lesser of 80% of loan to purchase price or 75% of appraised value |
| Minimum DSCR: | 1.25 for most commercial property types; appraisal report required; a summary appraisal format is acceptable |
| Environmental Regulations: | 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: | Not permitted |
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