Loan Guidelines

Permanent Financing

Product Description:

Permanent financing for stabilized income producing properties.

Loan Amounts Minimum:
$100,000

Maximum:
$2,000,000

Owner User: Maximum:
$750,000

Wright Way Financing

Prepayment Penalty

Prepayment penalty is required on all loans. Multiple prepayment penalty options available. Ability to prepay up to 20% of principal within any rolling 12-month period without prepayment premium.

Assumable

Yes, assumptions are available. Assumption is subject to borrower’s credit qualification and approval by lender.

Debt Service

Coverage Ratio

Income Producing Residential, Commercial, and Multifamily types considered.

Minimum Debt Service Coverage Ratio (DSCR) (based on lower of market or existing rents) 1.20x Residential, Multifamily and Mixed-Use.

Loan Type

Hybrid: Initial fixed-period of three or five years, which adjusts to the relevant index plus margin on the first change date and every six months thereafter, consistent with the term of the index.

Index

WSJ Prime is the index.

Margin is 4%

Caps are 2/1/6

Floor Rate is the Start Rate.