Multifamily & Mixed Use (5+ Units)
Loan Amount:
$250,000 - $5,000,000
Loan Types:
* Interest Only
* Fixed/Adjustable Rate Mortgage Options
Maximum Loan to Cost:
Initial Loan Amount divided by:
- Purchase: Lower of Purchase Price &
As-Is Value <=85%
- Refinance: As-is Value <=80%
Maximum Loan to Value:
Total Loan Amount divided by After-Repair
Value <=75%
Term Length:
Initial Term: 12-24 months
Extensions: up to Two 6-month Extensions
Recourse:
Loan Amount < $2,000,000: Full Recourse with
warm body guaranty
Loan Amount >= $2,000,000: Limited Recourse
with standard “bad-boy” carve-outs
Environmental Indemnification
Completion Guaranty when applicable
Minimum Guarantor FICO:
Mid-Score of 640
Eligibility Criteria:
Vacant or Occupied Properties
Capex <=100% of Purchase Price or As-Is Value
Skyline Financial Bank Inc
Skyline Financial Bank Inc
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