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Apartment Building Financing

Geographic Preference:          USA

5 Units Plus Minimum Loan Amount =   $250,000                         

Maximum Loan Amount =   Unlimited

Key Benefits

  1. A - C properties are considered
  2. Interest rates are fixed for, 6 months,1, 3, 5, 7, or 10 years.
  3. Amortization period:  20 - 30 years, depending on the grade of the property.
  4. Loan-to-value depends on the NOI of the property.  Usually a maximum of 80% (purchase or refinance)
  5. Non-recourse loans start at, $1,000,000
  6. Hard Money is available for special projects.
  7. Minimum number of units:  5+

Option #1

Minimum Loan Amount:    $250,000

Maximum Loan Amount:    None

LTV's & CLTV:

    Purchase:                    80%

    Refinance:                    75%

 

Option #2:

Minimum Loan Amount:              $250,000

Maximum Loan Amount:            $5,000,000

Maximum loan to value:          

                                  80% 1st with no seller carry

                                                  OR

                                  75% 1st

                                  90% CLTV, (Seller carry or current lien holder subordinate)

                                              OR
Option #3:

Minimum Loan Amount:              $1,000,000 with No Maximum

Maximum Loan to Value:             85% LTV (No seconds allowed)                                                  

Property types:                    A - C properties

Credit type:                           Good to Fair

Amortization:                        Up to 30 Years

Rates:                                    Fixed for; 6 months, 1, 3, 5, 7 or 10 years

(LOWER rates available for higher loan amounts, over $1,000,000 )  

 

Submissions:  Should include the following items.

1)    Property description and unit mix

2)    Color photographs, (exteriors, unit interiors, description of amenities).

3)    Last Years and Current YTD  Rent Roll on subject property.

4)   Last two (2) Years, and YTD operating statements.

5)    Borrowers resume

6)    Last 2 years schedule E tax returns for the subject property.

7)    1003 Loan Application.

8)    This loan takes a minimum of 30 - 45 days to close.  Due to the commercial market, please build a week on each side of the estimated time to close.