Small Stated Income Multifamily Mortgage Commercial Mortgage Loan

ABC Capital Corp |

Small Mixed-Use |Multifamily | Mortgage Loans | Investor |

(1 to 4 Family, & > 5 Units)

Special Program For:
Non-Owner Occupied - Investment Properties Only

No Limit for Number of Properties Owned

1. Minimum Number of Units and Loan Amounts:

                One to Four Units:      $100,000. to $1,000,000.
Multiple Properties (5+ Units) $500,0000 + ....

                Mixed Use (Store & Dwelling): $100,000 to $5,000,000.

                Multifamily > 5 Units:   $100,000. to $5,000,000.

(Standard Program)

2. Owner-Borrower Requirements:

        A. Multifamily Property

                a. Professional Real Estate Investor Only. Owner-User                            Prohibited. Only Non-Owner Occupied for Residential Units in subject properties considered.

Note: Additional state restrictions. MN, NH, OR, UT, VT - No multifamily loans less than 5 units, unless 5+ units or more.

        B. Mixed Use Property

                a. Commercial Space may be Non-Owner Occupied or Owner- User Occupied.

                b. Residential dwelling unit must be Non-Owner Occupied.

        C. All Property Types

                a. Mortgage qualified loan buyer/owner/borrower requirement                     is for an entity, such as a corporation or a limited liability                     company.

3. Applicant and Property Initial Requirements:

                a. No Income Check of Borrower Income With Completed Loan Application Form.

                b. "Stated Borrower Income" . Note that loan underwriting department will initially consider the subject property's rental income and expenses, and/or rental value when determining a satisfactory                     DSCR and loan amount. (Underwriter reserves right to require                       personal income documentation, but generally waives it.)

                c. Satisfactory credit history and credit scores. FICO credit                      scores will be considered as low as 650 for guarantor.

                d. Simplified asset verification for evidencing purchaser down                 payment money, or proof of liquidity is generally permitted.                    Example: Most recent bank statement. Up to 15% of funds may be relative gift. Partners investment of their capital, unlimited.

                e. Satisfactory mortgage history for prior and current mortgages.

                f. Applicant's source of income explanation in a statement                     format.

                g. Full multifamily form appraisal required. Non-refundable deposit of $2,750 or more required toward appraisal and miscellaneous application expenses.

                h. Full title search and abstract, mortgage title commitment,               and mortgage title insurance at closing required.

                i. Borrower entity documentation, including certificate of good               standing, corporate resolution, additional documents as                         required by underwriter.

                g. If any environmental issues arise, underwriter may require a                     phase one or phase two report.

4. These loans are not considered "hard money loans". Interest rates are competitive for long term Non-hard money lending.

5. Loan Purposes:

                        1. Purchase - OK

                        2. Cash-Out Refinance (100% Cash-Out Refinance                            Acceptable) - OK

                        3. Rate & Term Refinance - OK

6. Property Types:

                        1. Mixed-Use Properties- Business Usage or may be rented                     or commercial owner-user. Residential Apartments must                               be Non- Owner Occupied.

                        2. Special Multifamily Properties (Rental Property, Investor                      Only 1- 4 Units),

                        3. Multifamily Properties - Standard Program (   > 5  Units)

7. Maximum Loan - to - Value:

                        1. Multifamily & Mixed Use - 70% (Maximum CLTV 80%)

                        2. Commercial Property Types - 65% (Maximum CLTV                             80%)

8. "Higher Maximum Combined Loan-to-Value" is permissible; Seller or Third Party Second Mortgages Maximum 10% of Value (Exception basis). Lender Underwriter must approve the secondary financing and terms of the secondary financing prior to loan approval.

9. Fixed Interest Rate Period: 3 or 5 Years, thereafter Capped Adjustable Rate. Examples: 3 Fixed/ 27 Arm/ 30 Full Loan Term. Arm Index is Wall Street Journal Prime Rate Index. Margin is generally 4 above Index. Multiple property loans may choose 5 or 10 year fixed rate with up to 30 year amortization

10. Maximum Term:  10 or 30 Year Term, with Monthly Payments.

11. Prepayment Penalty Period: 3 or 5 or 10 Years (Will match the fixed interest rate period). Prepayment Penalty may be decreased for an additional fee.

12. Minimum Fico Score: 650 Middle Score

13. Real Estate Investment or Business Owner-User Properties may qualify. Borrower must be an Entity. Loans to Corporations and Limited Liability Companies only (Not to individual borrowers.). Residential unit(s) in 1-4 unit multifamily properties may not be owner occupied.

Inquiries, Questions, Applications - Contact:

Priscilla Li, Vice President

Processing Manager
ABC Capital Corp



Office   (718) 380 -7373

7 Days (347) 551 - 0800

Immediate Personal Service Request

Please feel free to complete this form.and return at any time. If you have a specific day and time for service, please complete the Comments section. If Comment is blank, we shall try to contact you immediately if at all possible.  Our policy is to provide knowledgeable experienced service to you. ABC Capital Corp is a multifamily, commercial property, and investor 1-4 family lender and conduit. Our top management has owned and operated mortgage banking companies whose total lending exceeds $2,000,000,000 during the past 25 years.(Yes, we have the correct number of zero's). Our knowledge is available to assist you, beginning right here.

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Questions - Contact
Priscilla Li, Vice President:

Office: (718) 380-7373

7 Days: (347) 551-0800

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