Guidelines & Submissions

Market Area

American Family will lend in all 50 states. Based on target loan size, we are willing to lend in secondary and tertiary markets.

Property Types

American Family lends primarily on Office, Industrial, Self Storage and Apartment properties, and select Retail.

Opportunities in hospitality are considered on a case-by-case basis.

Medical offices are considered if on or adjacent to a hospital campus.

Other special purpose properties, such as restaurants, are not considered.


Loan Size

American Family considers loan requests for $1,000,000 to $15,000,000, with the possibility of higher loan amounts for portfolio transactions. Loans of $2,000,000 to $10,000,000 are preferred. 

Interest Rates

Interest rates offered by American Family are usually established by adding a market-determined spread to the yield on ten-year on-the-run U.S. Treasury securities as of the date the rate is set. American Family can set the rate upon submission of an application, or can set the spread at application then set the rate upon submission of the loan for internal approvals. Under some market conditions floor rates may apply.


American Family primarily considers loan terms of 7 to 25 years, with the typical transaction being a ten year deal. For very low loan-to-value 30 year amortization or a period of interest-only payments may be available.

All else equal, fully amortizing loans are viewed more favorably than partially amortizing loans, and faster amortization more favorably than slower amortization.

For single-tenant properties, the lease term should match loan term, and the loan should fully amortize during the life of the loan.



Loans are typically non-recourse for principal and interest, with a Guarantor for standard carve-outs required. American Family is always indemnified against liabilities which may arise in connection with environmental contamination, brokerage activities and the Americans with Disabilities Act. Full or partial recourse may enhance a transaction.

Underwriting Parameters

American Family prefers LTVs below 65%, and is limited to max 80% LTC

For the highest risk-based capital rating, prior year NOI for a transaction should result in a 1.50x DSCR (anticipated interest rate, 25 year amortization) 


Forward Commitments

American Family will consider forward commitments, which may constitute a fee or additional spread depending on terms and current market dynamics.

Deposits and Fees

A deposit equal to 1% of the loan amount is required with return of the application, and an additional 1% is required with the commitment. Borrower shall reimburse American Family for out-of-pocket expenses including, but not limited to legal expenses, travel and property inspection expenses, and other administrative costs.

Lending Guidelines