Correspondent Corner

Barry Slatt Mortgage would like to profile a correspondent lender program. The following outlines one of our correspondent bank products:

• Loan amounts range from $1,000,000 – $30,000,000
• Lends nationally in major markets
• Offers variable rate loans, and can offer fixed rate terms up to 15 years
• 25-30 year amortizations are typical. Interest only available on a case-by-case basis
• Non-recourse lender
• Retail, office, industrial, and multi-family properties considered
• Strong sponsorship is required
• Rate locks available at application for up to 12 months in advance of closing
• Up to 75% loan-to-value (LTV)
• Estimated closing costs for loans under $10 million is $9,500; $25,000 for loans over $10 million