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BRIDGE

APARTMENT

INVESTMENT

Rates

6% to 8%*

5% to 7%*

5.25% to 7.25%*

Loan Size

$1MM to $10MM

$500k to $10MM

$500k to $10MM

Terms

2 & 3 Year Fixed

5 Year Balloon;

5 year I/O Balloon;   

7 Year Balloon;

10 Year Balloon; 
5 Year I/O + 5 Year Fixed

5 Year Balloon;

5 year I/O Balloon;

7 Year Balloon;

10 Year Balloon; 
5 Year I/O + 5 Year Fixed

Leverage

Up to 75% Cost

Up to 75% Value

Up to 75% Value

Nonrecourse

Nonrecourse & Recourse:
12 mo PITI Reserves

Nonrecourse:
12 mo PITI Reserves, 

Recourse: 6 mo PITI Reserves

Nonrecourse:
12 mo PITI Reserves, 

Recourse: 6 mo PITI Reserves

Prepayment

6 mo or 12 mo YM

Step Down Prepay,
Flat Prepay, YM

Step Down Prepay,
Flat Prepay, YM

Debt Service

0.0 & up

1.20x

1.25x

Amortization

Interest Only

Interest Only
15, 20, 25 & 30

Interest Only
15, 20, 25 & 30

Origination & Application Fees

1% Origination & 1% Exit Fee

 

Application Fees:

$2000 to $7500

 

Plus Appraisal &
Any Third-Party Costs

1% Origination or Par

 

Application Fees:

$2000 to $7500

 

Plus Appraisal &
Any Third-Party Costs

1% Origination or Par

 

Application Fees:

$2000 to $7500

 

Plus Appraisal &
Any Third-Party Costs

Property Types

Multifamily, Office, Retail, Industrial, Self Storage, Single Tenant, Mixed Use

5+ Units

Office, Retail, Industrial, Self Storage, Single Tenant, Mixed Use

Special Features

Foreign Nationals, Distressed, Rehab

Foreign Nationals, Holdbacks, Earnouts

Foreign Nationals, Holdbacks, Earnouts

*Rate dependent upon term, leverage, amortization, and prepayment penalty.

ReadyCap will not entertain the following loan types:  Gas Stations/Car Washes, Hotels/Motels, Inns/Bed & Breakfasts, Day Care (unless it is a tenant in a retail center and the space occupied by all ineligible types, including a day care, is less than 25% of the total property), K-12 Grade Schools, Rest Homes/Assisted Living Facilities/Overnight Stay Medical Facilities, Restaurants (unless it is a tenant in a retail center and the space occupied by ineligible types, including a restaurant, is less than 25% of the total property), Churches/Houses of Worship, Land, Prisons/Correctional Facilities, Marinas/Campgrounds/Bowling Alleys/Recreational Facilities, Timeshares/Co-ops, any properties where the owner lives on-site, or ground-up construction.