thinking about a loan our Customer Center the markets, what's hot, what's not about ARCS Commercial ARCS news
contact us
site map
home page

 

Student Housing Loan Program


loan products:

fannie mae
Fixed Rate
ARM
DMBS
Tax-Exempt Bond Credit
 Enhancement

Small Mortgage
Seniors
Student
MHC
Structured ARM
DUS PLUS
Unfunded Forward Rate Lock Commitment
Custom Loan Options

freddie mac
Fixed Rate
Float-to-Fixed-to-Float
Capped ARM
High-Leverage
Lease-Up Executions
Tax-Exempt Bond Credit Enhancement
Interest Only

capital markets
Multifamily
Retail
Office
Hotel
Industrial

additional information
interest rate calculation
prepayment options
supplemental mortgages
Fannie Mae Student Housing

For dedicated student housing
Product Overview

Eligibility
Dedicated student housing with 80% or more of units rented to students. Properties with food service or located on college/university land are not eligible.

Loan Amounts
$1.5 million minimum. No maximum.

Term/Aamortization
5,7 and 10 year terms
Up to 30 year amortization. Interest Only available but subject to some restrictions.

Interest Rates
Fixed or adjustable

Debt Service Coverage Ratio
Fixed: 1.30x minimum.
ARM: 1.05x minimum

Loan to Value
75% maximum

Personal Recourse
Non-recourse with standard "Carve-Outs" and Key Principal obligations

Prepayment   Click for more information
Yield maintenance, defeasance or graduated prepayment

Origination Fee
1% / $20,000 minimum

Commitment Fee
1% or less when applicable. $20,000 minimum.

Third Party Fees
Includes legal, appraisal, engineering, and environmental reports. Seismic reports and survey may also be required.

Replacement Reserve Impounds
Required - not less that $250/unit
Waiver considered for special circumstances.

Taxes and Insurance Impounds
Required. Waiver considered for low leverage transactions.

Assumability
Assumable with lender approval and a 1% fee

Supplemental Mortgages   Click for more information
Available after 1 year. Up to 2 available, plus 1 more upon sale and assumption. $500,000 minimum

Click here for printer friendly pdf
 
 
 

26901 Agoura Road, Suite 200 • Calabasas Hills, CA 91301-5109
800-ASK-ARCS •  • fax: 818-880-3333 • offices nationwide

©2008 PNC ARCS  •  terms and conditions  •  privacy policy