Program Guidelines


Loan Terms
Amount: $100,000 to $20,000,000
Maturities: 5 to 15 years
Amortization: Maximum of 30 years
Interest Rates: Fixed interest rates priced at a spread competitive over the comparable maturity U.S. Treasury Note. The spread will be determined by the relative credit quality of the loan.
Security: First Mortgages (or Deeds of Trust) only
Personal Guarantees: Program Dependent
Prepayment: Flexible terms
Secondary Financing: Flexible terms
Request for Submission: A Midwest underwriter can determine suitability of the loan request by telephone.
Issuance of Application: Midwest will either issue an Application or reject the loan request within two weeks of receiving a complete loan submission.
Site Inspection: Within three weeks of receipt of the accepted Application and Application fee (if applicable).
Issuance of Commitment: Within 30 days of receipt of accepted Application and Application fee.
Closing: Within three weeks of Midwest's receipt of satisfactory third party reports not to exceed 90 days after Commitment acceptance.