PROGRAM |
Metwest Platinum Program |
| Loan Purposes |
Permanent first mortgage loans for
Acquisition financings and refinancing. |
| Financing Size |
$100,000 – Minimum
$1,500,000 – Maximum |
| Programs: |
2, 3, 5, 7 years fixed, and declining fixed |
| Amortization: |
15, 20 & 30 Years |
| Loan to Value Ratio: |
Up to 85% - Multifamily, Mixed-Use, Office, Retail, Warehouse, Self-storage, Automotive, and Mobile Home Parks. |
| Interest Rate: |
Rates starting at 7.000%
Rate Locks Available on all programs. |
| Collateral: |
First Mortgage, recourse loans. |
| Prepayment: |
Typically 5% for 5 years |
| Funding: |
30 to 45 business days following
execution of Application. |
Lender Fees
|
Origination:
1%
Processing:
$750
Underwriting:
$1500 |
| Submission: |
The following documents are required for our initial review:
- Metwest submission form.
- Credit Report (Minimum FICO of 640)
- Completed 1003 plus Loan Supplement.
- Rent Roll, 2 yrs Income & Expense Statements
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