Our Products

Angel Oak Commercial Lending products cover small balance, senior, bridge, and mezzanine loans in almost every asset class nationwide directly or through an affiliate entity.  We believe that through these products, our experienced underwriting team will work to provide a solution that meets most borrower’s needs.
Light Transitional Bridge
Heavy Transitional Bridge
Permanent CMBS
Small Balance
Financing Terms
Transaction Type: Acquisition, Refinance, Transitional, lease up, certificate of occupancy, short term into sale, etc. No Ground Up Construction and No Land deals
Loan Size: $5mm - $50mm
Term: Up to 5 years w/options
Amortization: Interest Only
Interest Rate: Libor + 300-500 bps; option to fix rate available
LTV / LTC: Up to 80%
Min. Debt Yield: 5-6% going-in
Min. DSCR: 1.0x going-in with reserves
Origination / Exit Fee: 1% origination 1% exit; waived if lender provides permanent refinance
Prepayment: YM 12-24 months then open
Recourse: Non-recourse except standard bad-boy carveouts; guarantees on opex / interest reserves
Subordinate Debt: Considered on limited basis only if Lender also provides 1st position lien – up to 85% LTV/LTC
Financing Terms
Transaction Type: Similar to Light Bridge but substantial construction or other risks to business plan to improve NOI.
Loan Size: $3mm - $25mm
Term: Up to 5 years
Amortization: Interest Only
Interest Rate: 7–9%,Fixed
LTV / LTC: Up to 80%
Min. Debt Yield: NA
Min. DSCR: Varies from no cash flow to 1.0x; with reserves
Origination / Exit Fee: 1-2% origination, 1-2% exit
Prepayment: YM 12 months then open
Recourse: Similar to light bridge with partial or full recourse where appropriate
Subordinate Debt: Not Permitted
Financing Terms
Transaction Type: Acquisition or Refinance. Stabilized assets. Cash out available.
Loan Size: $2mm - $50mm
Term: 5, 7, 10 years
Amortization: 25 – 30 year schedule; interest only available
Interest Rate: Market based spread over Treasury or Swap rate
LTV / LTC: Up to 75%
Min. Debt Yield: 8%
Min. DSCR: 1.30x
Origination / Exit Fee: N/A
Prepayment: Defeasance / Yield Maintenance
Recourse: Non-recourse except standard bad-boy carveouts
Subordinate Debt: Considered on limited basis only if Lender also provides 1st position lien – up to 85% LTV/LTC
Financing Terms
Transaction Type: SBA 504 1st mortgages, and SBA look alike loans with senior mortgage security and smaller income producing multi-family and generic commercial real estate
Loan Size: $750k - $5mm
Term: 3, 5, 7 year fixed periods w/ 10 year loan term
Amortization: 20 – 30 year schedule
Interest Rate: 5.25%-6.50% fixed then floating over Libor
LTV / LTC: Up to 75%
Min. Debt Yield: N/A
Min. DSCR: 1.15x
Origination / Exit Fee: 1% origination fee plus any SBA fees for 504 program
Prepayment: 5-1 declining, 7-1 declining, and 5-flat; and 3-1 declining
Recourse: Personal guarantees from warm body
Subordinate Debt: Only SBA 2nd; no other permitted subordinated debt

The product term contained herein are representative only and are subject to change from time to time without notice