Due to continuously changing market conditions, the terms below are provided, as general information and may become out-of-date without notice.

Loan Size:
$1,000,000 and above, with larger loans considered on a case-by-case basis.

Eligible Locations:
Nationwide

Eligible Property Types:
       Multifamily
        Office
       Industrial (including Flex Space)
       Retail
       Mobile Home Parks
       Self-Storage
       All others considered

Terms:

Loan Processing Fee:
Starting at $2,500, non-refundable upon acceptance of application

Timing:
Typically closing occurs within 60 days of receiving the executed commitment

Liability:
Non-recourse except for normal "carve-outs"

Escrow:
Monthly escrows for real estate taxes, property insurance and appropriate replacement reserves throughout the loan term.

Loan Security:
First lien mortgage encumbering completed project(s). Leaseholds will be considered on a case-by-case basis

Interest Rate:
Fixed rate quoted as a spread to the corresponding US Treasury security. Rate lock at application with refundable deposit. Credit tenancy will result in flexibility on deal structure, pricing, and amortization.

Prepayment Premium:
Defeasance is the norm. Lockout and yield maintenance available on exception basis

Assumability:
Transfers permitted subject to lender approval and with 1 % assumption fee

Appraisal:
A current MAI appraisal conforming to FIRREA and USPAP guidelines which is acceptable to FFCC is required

A&E/Environmental:
A current architectural and engineering report (prepared by a licensed engineer) as well as a Phase I environmental report (meeting current ASTM + standards) both acceptable to FFCC will be required

Typical spreads are over comparable Treasury rates, and are subject to changing market conditions, and assume a 1% minimum fee.