Life Company and Conduit Relatioships

Life Insurance Company Relationships
Correspondent Relationships Permanent fixed rate loan programs for A and B quality properties offered nationwide through NY URBAN's life insurance company sources. Typically from 3- to 20-year terms, from $1,000,000 to $100,000,000 loan amounts, with maximum 80% LTV and minimum DSC of 1.20 with 30-year amortization schedules.

Conduit Relationships
Conduit Loans Permanent fixed rate loan programs for A, B and C quality properties offered nationwide. Typically from 5- to 10-year terms, from $1,000,000 to $100,000,000 loan amounts, with maximum 80% LTV and minimum DSC of 1.20 with 30-year amortization schedules.

Multifamily, Assisted Living and Health Care

Construction & Permanent Financing
FHA 221(d)(4) Construction period (typically 24 months) with a forward commitment and a fixed interest rate for a 40-year term, fully amortizing permanent loan. Minimum DSC of 1.11, and maximum loan to replacement cost of 90% or more. No yield maintenance; typically 5-year lockout with 5% penalty, declining 1% per annum thereafter. Debt is assumable and nonrecourse during the construction period as well as the permanent loan.

Permanent Financing
FHA 223(f) Up to a 35-year fixed rate, fully amortizing permanent loan for refinance, acquisition and rehabilitation. Minimum Debt Service Coverage of 1.15 and maximum LTV of 85% permitted. No yield maintenance; typically 5-year lockout with 5% penalty, declining 1% per annum. Debt is assumable and nonrecourse. Secondary financing permitted.

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