Correspondent Profile

Thomas D. Wood and Company would like to profile a correspondent life insurance company lender program. The following outlines one of our most competitive low cost, small balance, bank alternatives.

Areas of Focus: Small Balance Commercial and Multifamily Loans / Portfolios /Non-Conventional Real Estate & Deal Structures

  • Loan Amounts: $500,000 – $15M ($3M Avg). Portfolios up to $50M
  • Fixed Rate Terms of 3 – 25 yrs, with no balloon payment options (rate resets)
  • Amortization Periods typically 15 – 25 yrs. Up to 30 yrs available as well as interest only for low-leverage deals
  • Active Lender in Major, Secondary, and Tertiary Markets
  • 4 Core Property types plus special uses – Hospitality, Parking Garages/Lots, Self-Storage, Amusement Parks. Single Tenant and Owner Occupied OK
  • Processing Fee of 0.1% of Loan Balance – $4,000 Minimum. Includes inspection fee and Lender Legal in most cases – savings of $7,000 – $25,000
  • 75 Day Rate Lock at Application, Forward Rate Locks up to 7 months available with premium. Average closing is 65 Days – can close as quickly as one month from signed application
  • LTV up to 70%
  • Interest Rates starting at 4.25% – 4.75%
  • Covenant Free Loan Documents
  • Flexible Prepayment Structures Available
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