Details.
Financing for the refinance of existing multifamily structures with five or more units. Loans are available for single asset, single purpose entities and are fully non-recourse. An 80% LTV cash-out refinance is available under the stated conditions, with 50% of cash out funded at closing and the remainder released upon completion of non-critical repairs, including green certification when applicable. Fixed rates are determined by market conditions at rate lock, with a maximum 35-year fully amortizing term. Subject to HUD mortgage limits, occupancy requirements, escrows, replacement reserves, repair escrow requirements, third-party reports and applicable HUD fees.