Loan Programs

CREF Source works with multiple commercial real estate financing sources with a broad spectrum of loan programs. Each lender has unique underwriting requirements and criteria that differentiates their loan programs from others. Borrowers use CREF Source to find a loan program that meets the needs of a borrower's specific loan request. CREF Source is not a lender. Lender loan programs can have varying requirements and criteria as listed below:

Stabilized vs non-stabilized properties
Loan to value
Low interest rate vs higher interest rate
Long term fixed rates vs short term & floating
Non-recourse, limited recourse or full recourse for loan repayment
Flexible prepayment vs yield maintenance
Sponsor net worth requirements
Property types
Market size (Major vs Secondary vs Tertiary)
Tenant rollover
Good news fundings
Property condition
No ongoing minimum debt service coverage requirements vs ongoing after closing

Lender Loan Program Examples

Program #1 - Flexible

Program #2 - Low Rate, Low Cost

Loan Amount: $1-5 Million

Max LTV: 70 to 75%

Loan Term: 3-25 Years

Fixed Rate: Up to 15 Years

Rate Level: Medium to higher

Prepayment: Step down

Recourse: None to limited

Min DSC: None after closing

Closing Costs: Medium

Ideal for a borrower looking for a long term fixed rate loan, maximum loan proceeds and little to no recourse with a lender that can provide flexibility in underwriting.

Program #2 - Low Rate, Low Cost

Loan Amount: $1-100 Million

Max LTV: 65%

Loan Term: 3-25 Years

Fixed Rate: Up to 20 Years

Rate Level: Low

Prepayment: Yield Maintenance

Recourse: Full to limited

Min DSC: None after closing

Closing Costs: Very Low

Ideal for a borrower wanting lower leverage, low long term fixed interest rate, low closing costs and little to no desire to prepay the loan.

Program #3 - Max Proceeds

Program #2 - Low Rate, Low Cost

Program #4 - Low Rate, Max Proceeds, Non Recourse

Loan Amount: $1-100 Million

Max LTV: 75%

Loan Term: 3-25 Years

Fixed Rate: Up to 20 Years

Rate Level: Medium

Prepayment: Yield Maintenance

Recourse: Full to limited

Min DSC: None after closing

Closing Costs: Medium to High

Ideal for a borrower requesting maximum loan proceeds, a long term fixed interest rate and little to no desire to prepay the loan.

Program #4 - Low Rate, Max Proceeds, Non Recourse

Loan Amount: $5-50 Million

Max LTV: 75%

Loan Term: 5-15 Years

Fixed Rate: Up to 15 Years

Rate Level: Low

Prepayment: Step Down

Recourse: None

Min DSC: None after closing

Closing Costs: Medium

Program #5- Credit Tenant, Low Rate

Program #4 - Low Rate, Max Proceeds, Non Recourse

Program #5- Credit Tenant, Low Rate

Loan Amount: $1-50 Million

Max LTV: 75%

Loan Term: 5-20 Years

Fixed Rate: Up to 20 Years

Rate Level: Low

Prepayment: Step Down

Recourse: None

Min DSC: None after closing

Closing Costs: Low