TOWER FUND CAPITAL
LOAN MATRIX | INSTITUTIONAL TEAR SHEET
BASE RATE
9.75%
LOAN SIZE
$100K - $20MM
ADVANCE
Up to 75% LTV / 85% LTC
FOOTPRINT
National | Focus: NY, NJ, CT, PA, FL
CORE TERMS
STRUCTURE & ECONOMICS
| Base Interest Rate | 9.75% |
| Term | 6 - 24 Months |
| Prepayment Penalty | None |
| Amortization | Interest Only |
| Minimum Loan Amount | $100,000 |
| Maximum Loan Amount | $20,000,000 |
COLLATERAL & LEVERAGE
| Max LTV As-Is | 75% |
| Max LTARV | 75% |
| Max LTC | 85% |
| Asset Class | SFR, Multifamily, Mixed Use |
| Loan Type | Bridge, Fix & Flip |
| Cash Out Refinance | No Limit |
BORROWER & ELIGIBILITY
| DSCR Minimum | None |
| DTI Minimum | None |
| FICO Minimum | 500 |
| Loan Purpose | Investment |
| Occupancy | Non-Owner |
| Ownership | Entity |
| Foreign National | OK |
PROCESS & COVERAGE
| Valuation | Appraisal |
| Bank Statements | None |
| Verification of Funds | None |
| Seasoning | None |
| Income Verification | None |
| Territory | National |
| Preferred States | NY, NJ, CT, PA, FL |
| Recourse | Personal Guarantee |
LOAN LEVEL ADJUSTMENTS
| Adjustment | Rate | LTV | LTC |
|---|---|---|---|
| CREDIT PROFILE | |||
| FICO > 780 | 0.00% | ||
| FICO 740 - 779 | 0.25% | ||
| FICO 700 - 739 | 0.50% | -5% | |
| FICO 680 - 699 | 0.75% | -5% | |
| FICO 650 - 679 | 1.00% | -5% | -5% |
| FICO 600 - 649 | 1.50% | -10% | -5% |
| FICO 550 - 599 | 2.25% | -15% | -10% |
| FICO 500 - 549 | 3.00% | -15% | -10% |
| PERFORMANCE & CREDIT EVENTS | |||
| Mortgage Late <3 | 0.25% | ||
| Mortgage Late >3 | 0.75% | ||
| Mortgage Default | 1.50% | -10% | -10% |
| Foreclosure | 2.00% | -10% | -10% |
| Bankruptcy | 2.00% | -10% | -10% |
| Late Payments | 1.00% | ||
| Mortgage Defaults | 1.00% | ||
| Bailouts | 1.00% | ||
| Foreclosure | 1.00% | ||
| Bankruptcy | 1.00% | ||
| SPONSOR EXPERIENCE & PROCEEDS | |||
| Fix and Flip 10+ Experience | 0.00% | ||
| Fix and Flip 5-9 Experience | 0.50% | ||
| Fix and Flip 2-4 Experience | 1.00% | ||
| Fix and Flip 0-1 Experience | 2.00% | -5% | -5% |
| Cash Out Refinance >10% | 0.50% | -5% | -5% |