| CMC
can provide mortgage financing for every type of multifamily property.
Whether it’s a standard multifamily property, student housing,
co-op, manufactured housing community, or affordable housing, CMC
provides loans from $500,000 and up with flexible terms and prepayment
options.
CMC offers mortgage
financing for all commercial property types including office, retail,
industrial, self-storage, and hotel. We offer construction to permanent
financing and have access to acquisition and development capital.
CMC offers attractive choices and supreme flexibility for today’s
competitive marketplace. Utilizing both leading edge technology
and old-fashioned customer service, we provide a prompt, smooth,
reliable execution through closing.
Beyond our robust selection of products, CMC expertise and steadfast
commitment to remarkable customer service are what sets us apart
from the rest. We can help meet your most critical financial and
timing needs. Personal attention guaranteed.
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Product Overview
Loan amounts
$500,000 minimum
No maximum
Loan term
3, 5, 7, 10, 15, 20, or 25 year terms
Amortization
Up to 30 years
Interest-Only options available
Debt service coverage ratio
1.20x minimum
Loan to value
80% maximum
10% Mezzanine/ 85% Combined
Interest rate
Fixed and adjustable rate options
Personal recourse
Non-recourse with typical “Carve-Outs” available
Interest calculation
Actual/360
Prepayment
Step Down %, yield maintenance, defeasance including partial
lockouts
Assumable
Subject to approval and 1% fee
Replacement reserves
Typically required
Supplemental mortgages
Mezzanine allowed subject to approval
Borrower eligibility
Single Asset entity
Rate lock
One day prior to closing
Early lock option available
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