nwc suite of lending products updated 2 12 16

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Predevelopment Interim Development

Re-positioning/ Re-purposing

GP Interest Purchase

PurPose

Market studies, Phase 1 environmental analyses, site investigations, surveys, appraisals, architect and engineering, deposits, etc.

Land and building acquisition, predevelopment, construction & rehabilitation costs, bridging pay-in of LIHTC equity or government grants

Acquisition, rehab, or refinancing of vacant properties for re-zoning and re-purposing

Purchase of the GP interest of an eligible property

LoAn AMounTup to $500,000 per property or $1,000,000 per borrower

Larger loans with collateralup to $7,000,000* up to $7,000,000* up to $500,000 per property

InTeresT rATe 4.50% Fixed 5% to 6% Fixed 5% to 6% Fixed 5.5% to 7% Fixed

LoAn TerM up to 36 months up to 36 months up to 36 months Lesser of 7 years or maturity of property financing

PAyMenT TyPeInterest-only

Payable and compounded quarterly

Interest-only for construction and rehab

30-year amortization for occupied properties


Interest-only


up to 15 year amortization with balloon

LoAn To VALueunsecured up to $500,000

For larger loans TBD

occupied properties - 95%

Land or vacant building zoned for project use - 85%

up to 85% 70%

APPrAIsAL nA required prior to closingBased on eITHer: a) current zoning or b) future zoning with additional loan conditions

Based on an independent valuation of the GP interest

MInIMuM DCr** nA1.10 for occupied properties

nA for constructionnA 1.10

reCourse Full recourseFull recourse

Partial recourse considered if conditions are met

Full recourse Full recourse

CoLLATerAL sponsor Guaranty

1st lien, subordinate lien, other unencumbered property, earned developer fees, assignment of partnership interests


Assignment of the GP interest, asset and incentive management fees, deferred developer fees, other GP distributions

LoAn Fees origination Fees: 1.0 - 1.5% based on loan size, $2,000 minimum. Legal fees estimated at $1,000 - $7,000. Application Fee: $750 - $2,500 nonrefundable, deducted from origination Fee.

Can be combined with other products

Acquisition, Construction, Bridge

Suite of Lending ProductsCustomized lending with flexible terms, creative collateral, and rapid closing for residential and commercial real estate. If you don’t see what you need, ask us!

Suite of Lending Products

w w w . n e i g h b o r w o r k s c a p i t a l . o r g

Customized lending with flexible terms, creative collateral, and rapid closing for residential and commercial real estate. If you don’t see what you need, ask us!

Single Family Line of Credit

Multifamily Line of Credit Mini-Permanent Permanent

PurPose

Land acquisition, entitlement, construction, acquisition, or rehab of single family homes or manufactured homes

Predevelopment, acquisition, rehab of occupied multifamily properties requiring fast loan approval and closing

Acquisition, rehab or refinancing of occupied rental or commercial properties

Acquisition or refinancing of occupied multifamily properties

LoAn AMounT up to $5,000,000 up to $10,000,000* up to $7,000,000* up to $2,000,000

InTeresT rATe 5% to 6% Fixed 5% to 6% Fixed 5% to 6.25% Fixed 5.50% to 6.50% Fixed

LoAn TerM12-month initial term with unlimited 12-month renewals***

up to 60 months up to 7 years up to 18 years

PAyMenT TyPeInterest-only


up to 30-year amortization with balloon

Payable and compounded monthly


Payable and compounded monthly


Payable and compounded monthly****

LoAn To VALueLand development - 80%

Acq/rehab, the lesser of 80% LTV or LTC

occupied properties - 95%

Land or vacant building zoned for project use - 85%

up to 95% up to 95%

APPrAIsAL Appraisal required for each house

Appraisal either: a) required before closing, or b) accepted post-closing with additional loan conditions

Appraisal required prior to closing

Appraisal required prior to closing

MInIMuM DCr** nA 1.10 1.10 1.10

reCourse Full recourseFull recourse


Full recourse


Full recourse

Partial recourse considered after 5 years

CoLLATerAL 1st position



1st lien on real estate collateral

LoAn Fees origination Fees: 1.0 - 1.5% based on loan size, $2,000 minimum. Legal fees estimated at $1,000 - $7,000. Application Fee: $750 - $2,500 nonrefundable, deducted from origination Fee.

Our job is to figure out how to get you what you need. Ask us!Jennifer Balkcom, Chief Lending Officer P: 240-821-1651 x204, e: [email protected]

Sarah Geis, Senior Loan Officer P: 240-821-1651 x211, e: [email protected]

Stephen Peelor, Senior Loan Officer P: 240-821-1651 x206, e: [email protected]

Rob Hammock, Senior Portfolio Manager P: 240-821-1651 x209, e: [email protected]

* Larger loan amounts may be available upon request

** DCr calculated for all debt service after deposits to operating and replacement reserves, excluding surplus cash debt service

*** subject to loan performance

**** Prepayment penalty = 5% for the first 5 years, then declining 1% per year

revolving

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nwc suite of lending products updated 2 12 16

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