Fixed Rate Loan Programs
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Flexible loan programs for:
Sprint Mortgage General Lending Parameters
BRIDGE | FIX AND FLIP | NEW CONSTRUCTION | SUBDIVISION/INFILL | RENTAL HOLD | |
---|---|---|---|---|---|
INTEREST RATES | 7.0% – 10.0% interest only, fixed or floating | 7.0% – 10.0% interest only, fixed or floating | 7.0% – 10.0% interest only, fixed or floating | 7.0% – 9.0% interest only, fixed or floating | 3.75% - 6.0% interest only, fixed or floating |
LOAN TO VALUE/COST | Up to 90% LTV | Up to 90% LTC | Up to 80 - 90% LTC | Vertical: up to 75% LTC (No Land or A&D) | Up to 70 - 75% LTV (Min. 1.10x DSCR) |
LOAN AMOUNTS | Up to $5 million ($10 million for exceptionally well qualified sponsors) | Up to $5 million ($10 million for exceptionally well qualified sponsors) | Up to $5 million ($10 million for exceptionally well qualified sponsors) | Up to $5 million ($10 million for exceptionally well qualified sponsors) | Up to $5 million ($10 million for exceptionally well qualified sponsors) |
ORIGINATION FEE | 1% to 2% annualized | 1% to 2% annualized | 1% to 2% annualized | 1% to 2% annualized | 1% to 2% annualized |
LOAN MATURITIES | 12-24 Months | 12-24 Months | 12-24 Months | 12-24 Months | up to 30-years |
TYPES OF LOANS | Purchase and refinance | Purchase and refinance | Purchase and refinance | Purchase and refinance | Purchase and refinance |
TYPES OF PROPERTIES | Non-owner occupied SFR, multifamily, multi-unit or mixed- use | Non-owner occupied SFR, multifamily, multi-unit, or mixed- use | Non-owner occupied SFR, multifamily, multi-unit, or mixed- use | Non-owner occupied vertical SFR and multifamily | Non-owner occupied SFR or multifamily |
LIEN POSITION | First | First | First | First | First |
GUARANTY STRUCTURE | Full recourse (corporate guaranty considered) | Full recourse (corporate guaranty considered) | Full recourse (corporate guaranty considered) | Full recourse (corporate guaranty considered) | Full recourse (corporate guaranty considered) |
PREPAYMENT PENALTY/YIELD MAINTENANCE | None | None | None | None | None |