Commercial Mortgage-Back Securities/Non-Recourse Loan
Nations Loan Services offers CMBS Loans through its national affiliation with direct lenders. Nations Loan will underwrite the credit. We can provide financing in all 50 states. Loans range from $3,000,000-60,000,000.
If a full loan package is submitted to Nations Loan Services, we promise a quick response. A Term Sheet will be issued outlining the general terms and conditions for that loan if the loan is favorable.
General Underwriting & Guidelines:
- Non-Recourse loan
- Assumable with lender approval and 1% assumption fee
- Self-Storage properties
- 75% of appraised value or purchase price
- 1.25 X DSCR
- Tax and insurance escrows are required
- Term: 5-10 year balloon, interest only periods are available
- Average approval time is 30-60 days
- Short pre-payment penalty
- Rate Lock occurs on the or a few days prior to the closing date, early rate lock option is available at the lenders discretion for no longer then 30 days