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CARH 2015 Developing Best Debt Strategy in Unpredictable Market

CARH 2015 Developing Best Debt Strategy in Unpredictable Market. Bonneville MultiFamily. USDA 538 25 term 40 amort Rate 4.00% + .5 = 4.50% 1.15 DSC – all hard debt 90% LTV – 7 0% LTC .9 + 1% w/min - Fees Carve out recourse only Location – only rural Min loan $400,000 Phasing - yes.

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CARH 2015 Developing Best Debt Strategy in Unpredictable Market

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  1. CARH 2015Developing Best Debt Strategy in Unpredictable Market Bonneville MultiFamily

  2. USDA 538 25 term 40 amort Rate 4.00% + .5 = 4.50% 1.15 DSC – all hard debt 90% LTV – 70% LTC .9 + 1% w/min - Fees Carve out recourse only Location – only rural Min loan $400,000 Phasing - yes Fannie Mae/Freddie 15/30 – 18/30 4.95% Same 90%LTV – no restriction on LTC 1% - 25K min –Fees Same Penalty for small pop $1MM Hard to phase Program comparison Bonneville MultiFamily

  3. FHA 221d4 const/perm 15 – 40 4.10% +.45 = 4.55 1.11 – 1.15 87% LTC (no LTV parameter) NO 2.7% Same Bias against small pop $3MM yes USDA 538 const/perm 25 term 40 amort Rate 4.45% + .5 = 4.95% 1.15 DSC – all hard debt 90% LTV – 70% LTC Convenants - yes .9 + 1% w/min - Fees Carve out recourse only Location – only rural Min loan $400,000 Phasing - yes

  4. Community Bank Financing Bank (A) Bank (B) 20/20 5/15 5.5% 4.5% 1.15 1.15 80% 80% .25 – .5% .25 - .5% non recourse non Foot print foot print 250k – 5MM 250K – 5M • USDA 538 • 25 term 40 amort • Rate 4.00% + .5 = 4.50% • 1.15 DSC – all hard debt • 90% LTV – 70% LTC • .9 + 1% w/min - Fees • Carve out recourse only • Location – only rural • Min loan $400,000 • Phasing - yes

  5. IN ANY EVENT CALL: • Craig Hackett, • Rob Hall or • Chris Mullen • At Bonneville Multi-Family Capital • 12 years ago closed “the first tax credit deal in the USA” with the 538 program • Closed 284 loans with 538 USDA program and tax credits. • Dedicated processing, construction and servicing staff

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