Alliant’s Early Rate Lock Program provides the borrower the option to obtain a loan commitment and fix the interest rate on the loan based on the preliminary underwriting and the submission of limited information up to 12 months prior to loan funding (18 months for a Choice Refinance loan and 24 months for a Refi Plus).

Loan Amount:

Minimum of $1,000,000

Liability:

Non-recourse

Assumability:

With consent of Lender and payment of 1% transfer fee.

Standard Loan Term:

5, 7, 9+1, 10, 15, 18, 25 & 30 years

Amortization:

Up to 30 years

Interest Rate:

Changes daily. Please call Alliant Originator for today's rates.

Pricing Categories:
(Refer to Rate Sheet)

Tier Min DSC Combined Max LTV

 II    1.25         80% *

 III   1.35         65%

 IV   1.55         55%

*Maximum LTV is 75% for 5-year term and for Tier 2 Cash Out Refinances.

Prepayment:

Yield Maintenance and Alternative Defeasance. Other terms and conditions are available.

Standard Yield Maintenance:

4.5 years for a 5 year term loan
6.5 years for a 7 year term loan
9.5 years for a 10 year term loan
10 years for 15, 18, 25 or 30 year term loans
(Alternative yield maintenance periods are available.)

Reserves:

Taxes and Insurance
Funded Replacement Reserves may be waived for Tier III & IV loans.

Application Deposit:

$13,500 (Includes appraisal, environmental assessment and physical needs assessment costs.)

Lender's Legal Fee:

$4,750

Survey:

Required (Except for AZ, CA, NV, OR and WA)

Origination Fee:

Greater of 1% or $20,000, payable at Closing

Commitment Fee:

2% (Refundable) up to and including 180 days, 3% (Refundable) beyond 180 days and up to 365 days

Occupancy:

Minimum of 85% for 90 continuous days

Delivery Test:

All loans with a Commitment Period that equals or exceeds 6 months will be subject to a Delivery Test prior to delivery of the Loan in order to confirm that the Property continues to support the final underwritten Loan Amount. If the current collections at the time of loan closing do not support the loan amount, the loan amount will be reduced by the amount deemed necessary by the Lender in order to deliver the Loan.

Supplemental Mortgages:

Available (Beginning 12 months after loan closing)