Up to $9 million nationwide.
Conventional Multifamily, Cooperatives (New York City MSA, Boston, Chicago, Los Angeles, Washington DC MSA).
5 - 30 years.
Up to 30 years.
Fixed- and variable-options available.
Supplemental Loans are available.
Flexible prepayment options available, including yield maintenance and declining prepayment premium.
30- to 180-day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option.
30/360 and Actual/360.
Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy.
Lenders are delegated the authority to waive the Replacement Reserve for certain transactions. Replacement Reserve, tax and insurance escrows are typically required for higher leverage transactions.
Streamlined inspection and Environmental Screening using the ASTM E-1528-14 protocol.
Non-recourse 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.