Small Loans

LOAN AMOUNT

Up to $9 million nationwide.

ELIGIBLE PROPERTIES

• Conventional Properties; Multifamily Affordable Housing Properties; and Manufactured Housing Communities.
• Existing, stabilized multifamily properties. 
• Properties with 5 or more units.
• Loans for acquisition or refinance. 

TERM

5 - 30 years.

AMORTIZATION

Up to 30 years.

INTEREST RATE

Fixed- and variable-options available.

MAXIMUM LTV

80%.

MINIMUM DSCR

1.25x.

SUPPLEMENTAL FINANCING

Supplemental Loans are available.

PREPAYMENT AVAILABILITY

Flexible prepayment options available, including yield maintenance and declining prepayment premium.

RATE LOCK

30- to 180-day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option.

ACCRUAL

30/360 and Actual/360.

RECOURSE

Non-recourse execution is available with standard carve-outs for “bad acts” such as fraud and bankruptcy.

ESCROWS

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.

THIRD-PARTY REPORTS

Streamlined inspection and Environmental Screening using the ASTM E-1528-14 protocol.

ASSUMPTION

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.