Garden, mid-rise and high-rise apartments.
5, 7 or 10 years.
PREFERRED LOAN SIZE:
$10 million and larger.
75 – 80% LTV for 10-year terms
75 – 80% LTV for 7-year terms
65 – 70% LTV for 5-year terms.
1.25x based on fixed-rate sizing, or 1.05% at max rate.
Risk-based pricing that floats over 1-month or 3-month LIBOR or 1-month or 3-month Freddie Mac Reference Bills.
INTEREST RATE CAP:
Embedded in spread or purchased from a third party.
Up to 30 years. Partial or full term interest-only periods may be available.
Non-recourse except for standard carve-out provisions.
Allowed during the life of the loan subject to Walker & Dunlop approval.
1-year lock-out then 1% thereafter. Declining schedules also available.
Streamlined conversion to fixed-rate loan options available after the lockout period.
Available for qualifying properties.
Monthly escrows for real estate taxes, property insurance and replacement reserves are required.
Greater of $2,000 or 0.1% of the loan amount.
Typically 1% of the loan amount.
Standard transaction costs, including legal, title insurance, survey, and appraisal, environmental, and engineering reports.
This is a summary of general program terms, which are subject to change. This is not a commitment to lend.