1. Purchase money or rate/term refinance-Owner User Property Types
2. Credit scores over 680 (all three), with no derogatory history
3. DSCR exceeds 1.25x for multi-use properties and 1.40x for special use properties
4. Loan to value 65% or less for multi-use and 60% or less for special use properties.
5. If refinance, more than 3-yrs property ownership with trailing DSCR capability.
6. If investment property purchase, full financial disclosure from seller and previous investment property ownership experience.
7. If property with single tenant, full financial disclosure from tenant
8. Borrowers have strong personal income, excellent credit, not over encumbered in personal debt, and good experience
9. If investment property, multiple tenants with long remaining lease terms. Favorable tenant types.
10. If single tenant, property is leased at NNN to a credit rated tenant
11. The greater of min. 6mos post closing liquidity for PITI payments or of 10% of the loan amount.
12. Investment property owners must have ability to service a min. of 30% of proposed mortgage payments out of discreationary personal income.u
13. Postive Income Trends.

1. DSCR 1.20 for multi-use and 1.30 for special use
2. Refinance with less than 3-yrs ownership of property (Owner User or Investor Property)
3. Less than 3-yrs DSCR capability
4. Marginal credit scores (<700 but greater than 660 for owner occupied)
5. Mixed use property with only one commercial tenant
6. **Mixed use property with commercial component being unfavorable tenant type
7. Single tenant property with non-credit rated tenant (tenant must provide financials)
8. Borrower has multiple properties and/or other business entities and has not filed most recent tax returns
9. Borrower has no commercial property ownership experience
10. Properties located in FL, NV, OH, IN or MI
11. The greater of min. 6mos post closing liquidity for PITI payments or of 10% of the loan amount.
12. Investment property owners must have ability to service a min. of 30% of proposed mortgage payments out of discreationary personal income.u
13. Postive Income Trends.

1. **Unfavorable industry types or tenants(either owner occupied or investment properties)
2. Credit scores below 660 for owners, below 700 for investors (all three scores)
3. Properties that are cosmetically unappealing or are ‘white elephants’
4. Properties with a large land component
5. Single tenant property to a non-credit rated tenant (tenant will not provide financials)
6. Property has significant deferred maintenance
7. Property located in rural area with a low MSA (>25 miles from 100,000 pop. City center)
8. Refinance with less than 2-yrs ownership seasoning

• No Cash Out Refinances Allowed***
• Refinances with 24 mos. or less seasoning of ownership will always be based off a Loan to Cost Basis

**Currently unfavorable industry/tenant/property types include but not limited to: restaurants, builders/developers, realtors, real estate, mortgage origination, finance companies, auto/boat/motorcycle/RV sales, assisted living and hotel/hospitality industry.

***Cash may be allowed for renovation, expansion, consolidation of business debt, buy-out of partners, or possibly purchase other real estate. CASH OUT FUNDS WILL BE MONITORED.

Ineligible property types include but not limited to: Land, Lot, SRO properties, Co-op or timeshares, Condo-tels, golf courses, rural properties*, gas stations*, properties outside the U.S., MHP’s, RV Parks, all types of consturction/development projects, property requiring major rehab and adult entertainment properties.

*Rural properties, those located in MSA's <25,000 may be eligible for financing under the USDA B&I program. Call or email for details.

CFR Mortgage Group, Inc. Product Summary Sheet
	Conventional Owner Occupied	Multi-Use Investor	SBA 504 (Owner Only)	Flagged Hotel
Max. Loan Amount	Multi-use up to $5mm Special Use up to $4mm	Up to $4mm	Multi-use up to $4mm Special Use up to $4mm	$4mm Conventional $6mm if SBA 504
Max LTV	65%	65%	65%	65%
Max CLTV	90%*	75% to $2mm	75%	75%
Max Amortization	25yrs	30yrs	25yrs	25yrs
Minimum Credit	660	700	660	660
Acceptable Markets	Urban/suburban	Urban/suburban	Urban/suburban	>25,000 population
Preferred Traits	Multi-use <100,000 sq. ft.	Warehouse, office, medical office, retail, manufacturing	Better than average property condition	Interior corridor Limited Service Flag <125 units
Minimum Injection	10%*	25%	25%	25%
Minimum DSCR	1.25 Multi-use 1.40 Special use	1.20 purchase 1.35 refinance	multi-use 1.20 special use	1.30
Experience Required	Prior management and ownership preferred	Previous ownership preferred	Prior management and ownership preferred	Prior hotel management OR ownership preferred
Product Notes	Remaining economic life must be >5-yrs the loan amortization All properties must be in average or better condition Minimum cash injections revisions will be increased based on property type, condition, location, credit, cash flow and other mitigating factors Product guidelines are subject to change. For detailed analysis of your loan please consult with your Account Executive *CLTV would generally be on a SBA 504 transaction (max 90% CLTV), seller holder note, or second trust funded by our investor(s) up to 75% CLTV Brokers eligible for up to 2% YSP (not available on all products). Property locations require MSA of >25,0000 Contact Gregg or Bill Cochran CFR Mortgage Group, Inc. 160 Centennial Way #19 Tustin, CA. 92780 714-731-5282 –voice 888-251-3938 –efax cfrgroup@att.net cloanman@att.net www.cfrloans.com or www.mycommerciallendingpro.com