EASTLAND      MORTGAGE     PROGRAM    GUIDE 
Contact Us: (516)-367-9000 M- F 9:am-7pm

                            

PROGRAM  A                                          

Gas Stations, Convenience Stores,   Hotels,  Motels,   Auto Repair Shops

 
FICO                                      Max  LTV                                          Min. DSR                 

500-599  (same rate)                      60%                                                   2:1
600-649                                       65%                                                   1.5:1
650-699                                       70%                                                   1.25:1
700 +                                            75 - 80%                                           1:1

 
Loan Sizes:  $ 100,000.  -  $ 2,000,000.

Rate:  6.75%     -  Quarterly Variable – (prime + 2.75%)

Terms:  15/20/25   PPP – (5,3,1)

PROGRAM  B   (Higher Loan Amounts & Additional  Property Types)

Car Washes, Independent Food Stores, Convenience Stores, Auto Sales Hotels, Motels, Mixed Use, Retail, Light Industrial, Unflagged Strip Malls

FICO                                      Max LTV                                           Min. DSR                 

650-699                                      70%                                                    1.25-1 700+                                            75%                                                    1.25-1

Loan Sizes:  $ 2,000,000.  -   $10,000,000.

Low Rate:  6.0%     - Quarterly Variable – (prime + 2%)

Terms:  15/20/25/30   PPP – (5, 4, 3, 2, 1)

*** All loans must be on owner occupied and operated properties.
*** All loans subject to underwriting discretion and board review.