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Programs

Emporium I "Small Balance"

Stated-Income / Stated Asset
Purpose:
A permanent first mortgage for acquisition and refinance
Minimum / Maximum Loan Amounts:
$100,000 - $1,000,000
Term:
15/15 & 20/20 years
Loan to Value RatiosUp to 70/75% (Multi-family)
Up to 70% (Mixed-Use)
Up to 60% (Retail and other property types)

90% CLTV Available
DSCR:
1.20 (Flexible)
Collateral:
First mortgage, recourse loans, guaranties required.
Prepayment:
Typically 2 - 3 years lockout / 5% 1-60 months prepayment penalty
Funding:
45 business days following process of application.
Submission:ACL needs the following forms for initial review:
  • Submission Form
  • Credit Report (minimum 575)
  • Completed 1003 (Uniform Application)
  • Rent Roll, Income and Expense Statements
 
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