Program workspace

“Build your business where you want with a Commercial Real Estate Mortgage from Liberty Bay Credit Union.”

“If you need to close a deal before SBA authorization kicks, we provide interim interest-only bridge financing”

“Our non-recourse floater program provides business plan financing between $5 million and $15 million for small-balance real estate”

“Our performance bridge loan is a good fit for quick-close deals or heavier lift properties.”

“Commercial Real Estate Loans”

“Commercial Real Estate Loans”

“Commercial Real Estate (CRE) Loans”

“Healthcare Real Estate Strategic financing options designed to help investors, developers, and end users build, expand, and renovate healthcare facilities.”

“Hospitality The flexibility and support you need to build a new hotel, enhance an existing property or expand your portfolio.”

“Seniors Housing Our team is ready to assist owners and operators who seek to develop, purchase, renovate or refinance properties.”

“Business Loans Commercial Real Estate Loans”

“All-In-One Construction Loan”

“Interim Construction Loan”

“Commercial Real Estate”

“Finance everything from land acquisition to commercial development with unprecedented lending power and local expertise.”

“Affordable Housing”

“LUMENT.COM THE PROGRAM HAS THE FOLLOWING ADDITIONAL PARAMETERS • Funds to cover minor repairs ($1,500/unit max) and costs of the transaction can be included in the loan amount. • Outstanding debt incurred in connection with capital improvements already made to the property may also be included in the loan amount, subject to HUD approval. • Davis-Bacon prevailing wage requirements do not apply to any repairs. • Loans insured under Section 223(a)(7) assume program characteristics of the underlying mortgage insurance program. • The streamlined nature of the underwriting does not require a new app”

“LUMENT.COM Lument is a leading FHA-approved Mortgagee and MAP/LEAN lender that actively underwrites, funds and services FHA insured mortgage loans for multifamily housing, seniors housing, assisted living and skilled care properties nationwide. PURPOSE Provides mortgage insurance for the new construction and substantial rehabilitation of rental housing for elderly persons (aged 62 or older) and/or persons with disabilities. Occupancy is restricted to elderly in at least 75% of units (all persons living in the unit must be 62+) with no more than 25% reserved for non-elderly disabled residents a”

“LUMENT.COM Provides mortgage insurance for the refinance or purchase of existing skilled nursing and assisted living facilities. Unlicensed independent living units are also allowed but cannot exceed 25% of the total units of a project without a waiver. Other licensed seniors housing property types are also eligible, including intermediate care facilities and board & care homes (collectively, “Residential Care Facilities”). ELIGIBLE BORROWERS Profit motivated, non-profit and public owners are eligible. TERRITORY Nationwide. MAXIMUM TERM 35 years (fully amortizing) or 75% of the estimated remai”

“LUMENT.COM Lument s a leading FHA-approved Mortgagee and MAP/LEAN lender that actively underwrites, funds and services FHA insured mortgage loans for multifamily housing, seniors housing, assisted living and skilled nursing properties nationwide. PURPOSE Provides mortgage insurance for the construction or rehabilitation of skilled nursing and assisted living facilities. Unlicensed independent living units are also allowed but cannot exceed 25% of the total units of the project without a waiver. Other licensed seniors housing property types are also eligible, including intermediate care facilit”

“LUMENT.COM THE PROGRAM HAS THE FOLLOWING ADDITIONAL PARAMETERS • Loans insured under 241(a) assume program characteristics of the underlying the mortgage insurance program. • Proposed repairs may not be primarily items of deferred maintenance. • Davis-Bacon prevailing wage requirements do apply to construction/repair costs if the first mortgage loan was financed under FHA’s construction loan program (Section 221(d)(4)). If the existing loan was financed under FHA’s acquisition/refinancing program (Section 223(f)) then Davis-Bacon prevailing wages do not apply. Lument is a leading FHA-approved ”

“LUMENT.COM THE PROGRAM HAS THE FOLLOWING ADDITIONAL PARAMETERS • Loans insured under 241(a) assume program characteristics of the underlying the mortgage insurance program. • Proposed repairs may not be primarily items of deferred maintenance. • Davis-Bacon prevailing wage requirements do apply to construction/repair costs if the first mortgage loan was financed under FHA’s construction loan program (Section 221(d)(4)). If the existing loan was financed under FHA’s acquisition/refinancing program (Section 223(f)) then Davis-Bacon prevailing wages do not apply. Lument is a leading FHA-approved ”

“LUMENT.COM ELIGIBILITY • Hospitals with an average debt service coverage ratio greater than or equal to 1.4 when calculated from the three most recent annual audited financial statements subject to certain recasting discussed below. • Hospitals with an aggregate operating margin greater than or equal to zero when calculated from the three most recent audited financial statements subject to certain recasting discussed below. • Borrowers must meet three of seven of the following criteria: 1. The proposed refinancing would reduce the hospital’s total operating expense by at least .25 percent; 2. ”

“LUMENT.COM COSTS & EXPENSES Fixed closing costs include: • 0.30% FHA application fee; one half paid with application, one half at closing. • 0.50% FHA inspection fee. Variable closing costs include: • 2.00% to 5.50% for financing expenses (including mortgage bankers, investment bankers, attorneys and rating agencies). • $25,000 to $100,000 for an examined financial forecast. Annual expenses (based on outstanding principal amount): • 0.50% annual FHA mortgage insurance premium; first year paid at closing. CONSTRUCTION GUIDELINES Davis-Bacon prevailing wage rates apply to new construction, addit”

“FHA SECTION 221( d )(4) & SECTION 220 Multifamily New Construction/Substantial Rehabilitation ELIGIBLE BORROWERS Single-asset, special-purpose entity, either for-profit or nonprofit. ELIGIBLE ASSET TYPE Market-rate, middle-income 1 , affordable 2 , or rent-subsidized 3 properties. Some age-restricted projects are also eligible. COMMERCIAL SPACE Limited to 25% of net rentable area and 15% of effective gross income (Section 221(d)(4)), or 30% of effective gross income if project is in an eligible Redevelopment Area (Section 220). MAXIMUM LOAN PROPERTY TYPE MIN. DSCR MAX. LTC MIN. UW VACANCY Mark”