Home > $500M Apartment Building / Multifamily
Apartment Loans / Multifamily Mortgage Loan
Loan amount ranges from: $1,000,000 - $500,000,000 million
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Location:
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Nationwide |
| Type: |
We provide financing for acquisitions, refinances, and new construction of Apartment and Multifamily properties. |
| Loan Options: |
Fixed and adjustable loans are available. |
| Amortization: |
15, 20, 25, 30, 40 Years |
| Term: |
10, 20, 25, 40 Years |
| Loan-to-Value: |
Multifamily and Apartment Financing - 75-90% LTV. |
| Debt Service: |
DSCR on apartment loans and Multifamily properties is 1.11-1.20% |
| Collateral: |
Apartment investment mortgage loans on real property |
| Property Types: |
Multifamily apartment units with 5 - units and up. |
| Loan Types: |
Conventional, FHA, Fannie Mae and Freddie Mac |
| Eligible Properties: |
- Existing apartment properties with 5+ units limited mixed use acceptable
- No properties with deferred maintenance in excess of 5% of value
- Mixed-use multifamily apartment loans with retail on the bottom floor.
- Conduit Loans of large multifamily properties with 20 or more units
- Permanent, construction or substantial rehabilitation
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| Loan programs: |
- Highly competitive with a wide array of rate plans including:
- 3, 5, 7, 10, 15, 25, 30, 35 and 40 year fixed interest rate terms.
- 10, 15, 25, 30, 35, and 40 year fixed and variable rate loan amortizations
- 3, 5, and 10 year interest only loan structures are available.
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| Prepayment: |
Pre-payment penalties are common when searching for the best and lowest fixed rate of the market. Loan choices can range from fixed declining with yield maintenance, loan defeasance, declining 5,4,3,2,1, or 3,2,1 options...or no prepay penalty with higher rate and fee options are available. Apartment loans may or may not require recourse or personally guarantees. |
| Personal Guarantee: |
Non- Recourse and Recourse options |
| Minimum DCR: |
1.11 based on today's mortgage interest rates along the requested loan constant |
| Fees: |
Loan amounts below $3,000,000., costs will range from $6,000 to $12,000. Loan Amounts over $3,000,000., costs can be $20,000 or more. Borrowers are responsible for all due diligence and closings costs (Appraisal, Environmental, Engineering site inspection, title, etc.) |
| Loan-to-Value: |
- 90% for construction
- 85% for purchase or refinance
- 75% for cash out refinance
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| Rate Lock: |
60-day lock-in is available, advanced deposit is required and credited towards loan closing. |
Types of Apartment Loan programs range from all types of apartment funds including Fannie Mae, Freddie Mac, FHA/HUD, Conduit, private and portfolio commercial loan programs. Apartment Financing permanent and variable interest rate loans with funding terms from 5 to 20 years for stabilized and unstable investment properties. Bridge and construction multifamily loans have short term bridge loans to help in creating real estate cash value in your property.
Loan equity and mezzanine/2nd T.D. loans offer cash equity to help add property value over a shorter length of investment time.
Maximum loan dollars on apartments are generally at 75% to 80% of the as is value with interest rates fixed over the 10 year US Treasury bill rate plus spread depending on the investment grade or quality. Occupancy Levels are looked upon favorably between 80% to 90% unless rehab is requested.
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