MARKET UPDATE BLOG
Correspondent Corner
June 7, 2018

Barry Slatt Mortgage would like to profile a correspondent lender program. The following outlines one of our correspondent bank products:

  • Loan amounts range from $1,000,000 – $30,000,000
  • Lends nationally in major markets
  • Offers variable rate loans, and can offer fixed rate terms up to 15 years
  • 25-30 year amortizations are typical. Interest only available on a case-by-case basis
  • Non-recourse lender
  • Retail, office, industrial, and multi-family properties considered
  • Strong sponsorship is required
  • Rate locks available at application for up to 12 months in advance of closing
  • Up to 75% loan-to-value (LTV)
  • Estimated closing costs for loans under $10 million is $9,500; $25,000 for loans over $10 million

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