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HomeStreet Bank has been making commercial real estate loans since 1921. We offer more commercial real estate loan products and capabilities than any other Northwest regional community bank. We’ve got local decision-making and an experienced, knowledgeable staff. That means we can be nimble and creative, providing certainty throughout the loan process. Say goodbye to the red tape of big banks, and hello to HomeStreet.


Construction and Bridge Loans – HomeStreet


Terms May Be Customized For Your Loan

General Guidelines

Purpose - New construction or acquisition & rehabilitation ofall major property types.
Loan Size -  $5 million to $30 million
Term - 2-10 years (construction only or construction/perm combo)
Interest Rate - Floating or fixed rate (LIBOR-based matched to swap equivalent). Fixed-rate construction/perm loans available.
Loan-to-Value - 75% maximum (80% maximum for multifamily)
Loan-to-Cost - 80% maximum
Debt Service Coverage - 1.25 minimum (1.20 minimum for multifamily)
Recourse - Full recourse

 

Permanent Loans – HomeStreet


Terms May Be Customized For Your Loan


General Guidelines

Purpose - Acquisition or refinance of all major property types.
Loan Size -  - $3 million to $30 million
Term - Up to 10 years
Amortization - Up to 30 years.
Interest Rate - - Floating or fixed rate (LIBOR-based matched to swap equivalent).
Early Rate Lock - Option to lock up to 4 months prior to loan closing, subject to certain conditions.
Loan-to-Value - 75% maximum (80% maximum for multifamily)
Debt Service Coverage - 1.25 minimum (1.20 minimum for multifamily)
Recourse - Full recourse
Prepayment - Open to prepayment without penalty for 3-year term or less. Step-down prepayment on longer fixed rate periods
Assumptions - Allowed on case by case basis

 

Fannie Mae DUS® Program


Terms May Be Customized For Your Loan


General Guidelines

Purpose- Acquisition or refinance of Market Rate and Affordable Multifamily properties.
Loan Size -  - $1 million to $40 million
Term - 5 to 12 years
Amortization - Up to 30 years. Interest Only Options Available
Interest Rate - Fixed or Adjustable
Loan-to-Value - 80% maximum (75% max for cash out).
DSC - 1.25 minimum
Recourse - Non-recourse with standard carve-out provisions
Prepayment - Yield maintenance or defeasance available
Assumptions - Allowed on a case by case basis
Escrows - Monthly escrow for taxes, insurance, and replacement reserves may be required
Special Features/ Programs
  • Supplemental seconds