EASTLAND MORTGAGE PROGRAM GUIDE
PROGRAM A
Gas Stations Loans, 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.
| Flagged & Qualifying Reits to $25,000,000.
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.
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