Lenders Tightening

Due to overwhelming concerns about the impact Covid will have on commercial real estate, lenders are tightening up lending criteria. 75%LTV and 1.25 DSC are the minimums most are requiring. Fannie and Freddie loans have been requiring anywhere from 6-18 months of debt service to be escrowed along with 6-18 months of repairs reserves also to be escrowed. Refinancings with Fannie and Freddie have required borrowers to show their last 2 years of income and expenses TO THE PENNY!