- Flexible loan terms.
- Competitive pricing.
- Predictable payment and amortization schedule.
- Speed in processing and underwriting.
- Existing, stabilized Conventional properties, Multifamily Affordable Housing properties, Seniors Housing properties, Student Housing properties and Manufactured Housing Communities.
- Properties with a minimum of five units (50 pad sites for Manufactured Housing Communities).
- Credit-worthy single asset U.S. Borrower with U.S. Ownership.
- Borrowers may have indirect foreign ownership interests, subject to proper structuring of the borrowing entity and its parent.
5 – 30 years.
Up to 30 years.
80% for Conventional properties.
1.25x for Conventional properties.
Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding. Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.
Supplemental loans are available.
Loans may be voluntarily prepaid upon payment of yield maintenance or prepayment premium.
30- to 180-day commitments. Borrowers may lock the rate with the Streamlined Rate Lock option.
30/360 and Actual/360.
Non-recourse execution is available for most loans greater than $750,000. Standard carve-outs required for “bad acts” such as fraud and bankruptcy.
Replacement reserve, tax and insurance escrows are typically required.
Standard third-party reports required, including Appraisal, Phase I Environmental Site Assessment and Property Condition Assessment.
Loans are typically assumable, subject to review and approval of the new Borrower’s financial capacity and experience.
This sheet sets out the general guidelines of a loan program and is designed solely as an aid to prospective borrowers and other clients. It does not represent or imply a contract or a commitment to lend funds. A commitment to lend funds may only be made by a written letter issued by NewPoint to a prospective borrower. This term sheet is subject to change at any time without notice at the sole discretion of NewPoint Real Estate Capital LLC.