Check Your Loan Eligibility in 2 mins
ELIGIBLE LOCATIONS | MSA’s within the U.S. and current markets approved by CIVIC |
PROPERTY TYPES | Multifamily 5-100 Units |
LOAN AMOUNT | $500k to $10MM |
LOAN TERM | 1, 2 and 3 Year Loans |
AMORTIZATION | Interest Only |
LTC/LTV | Up to 80% Loan to Cost and maximum 75% LTV of stabilized value |
DSCR | Stabilized Minimum 1.20x DSCR underwritten cash flow using prevailing rates at market rents |
PROCESSING FEE & EXPENSE DEPOSIT | $5,000 Third Party Deposit Fee to cover actual 3rd party report cost (appraisal, PCA, environmental, seismic, and site visit, if applicable) |
RESERVES | Extensive Rehab Loans/No Rehab Advance: 6 months interest + 100% of rehab budget Extensive Rehab Loans/Rehab Advance: 6 months interest + 20% of rehab budget |
SPONSOR/BORROWER | Creditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth |
BORROWING ENTITY | LLC, Corp, Trusts – SPE (single purpose LLC) may be required on some loans |
RECOURSE | Non-recourse, with the exception of industry standard “bad boy” carve outs |
ASSUMABLE | No |
PREPAYMENT | 1yr loans: No Minimum Interest 2yr loans: 8 months Minimum Interest 3yr loans: 12 months Minimum Interest |