General Guidelines

  • Non-Bank
  • Direct Lender
  • 5+ Units
  • AZ, CA, CO, FL, GA, HI, NC, NV, OR, SC, TN, TX, UT, VA, WA
  • No Minimum DSCR Requirements on in place income
  • Interest Only Payments
  • Quick Closings 5-17 days
  • Interest rate based on experience & FICO
  • Non-Recourse with standard “bad-boy” carve outs

Value-Add Program

  • No minimum DSCR requirements
  • Up to 80% Loan to Cost
  • Fast Turn Times on Draw Requests
  • Earn-Outs provided
  • Bank Turn downs
  • Fannie and Freddie Fallouts
  • Speed and Leverage

Lending Guidelines

ELIGIBLE LOCATIONSMSA’s within the U.S. and current markets approved by CIVIC
PROPERTY TYPESMultifamily 5-50 Units
LOAN AMOUNT$500k to $10MM
LOAN TERM1, 2 and 4 year loans
AMORTIZATIONInterest Only
LOAN TO VALUEUp to 80% Loan to Cost and maximum 75% LTV of stabilized value
DSCRStabilized Minimum 1.20x DSCR underwritten cash flow using prevailing rates at market rents
PROCESSING FEE & EXPENSE DEPOSIT$5,000 Third Party Deposit Fee to cover actual 3rd party report cost (appraisal, PCA, Environmental, seismic, and site visit, if applicable)
RESERVESExtensive Rehab Loans/No Rehab Advance: 6 months interest + 100% of rehab budget
Extensive Rehab Loans/Rehab Advance: 6 months interest + 20% of rehab budget
No Rehab or Stabilized loans: 4 months interest
SPONSOR / BORROWERCreditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth
BORROWING ENTITYLLC, Corp, Trusts - SPE (single purpose LLC) may be required on some loans
RECOURSENon-recourse, with the exception of industry standard “bad boy” carve outs
ASSUMABLENo
PREPAYMENT1yr loans: no prepayment penalty | 2yr loans: 8 months interest guarantee | 4yr loans: 18 months interest guarantee
Loan Status