Insurance Companies - Nonrecourse Lower Leverage usually max 65%LTV. Debt Service Ratio 1.25+. Lesser Prepay than CMBS/CDO with prepay buydowns possible. 5-10-15 year terms, 25-30 year amortizations
Banks - Usually Recourse, Mid Leverage usually max 75%LTV. Debt Service Ratio 1.0 to 1.25+. Lesser Prepay than CMBS/CDO with prepay buydowns possible. Mini-Perms to Perms available for renovations, or Construction to Permanent also available. Usually 3,5,7 year terms with 20-25 year amortizations
CMBS/CDO - Securitized product (commercial mortgage backed security or also known as collateralized debt obligation. Mostly Non-Recourse, Mid to Low Leverage usually max 65-70%LTV. Debt Service Ratio 1.25+. Yield Maintenance prepay, but can be assumable. Usually 5,7 or 10 year terms with 25 year amortizations. Price spread over corresponding Treasury bond.