Graco Mortgage's Large Balance Apartment Loan Program provides borrowers with apartment financing needs in excess of $5 million highly competitive, flexible, and financing solutions for multifamily ;properties including, senior center housing, student housing, affordable housing, and manufactured community housing (mobile home parks) properties.
With funding sources including their own portfolios, insurance companies, REITs, conduits, and direct correspondents of both Fannie Mae DUS. We provide one of the nations most competitive and aggressive apartment financing programs available.
Our Apartment Loan Program provides highly customizable products that can be structured around an individuals borrowing needs and property constraints to accomplish the desired investment objectives.
Graco Mortgage combines its FHA and USDA loan programs with our Advisory services to arrive at finance solutions for apartment owners and developers nationwide. We offer many programs that provide up to 90% financing for acquisitions, new construction and substantial rehabs.
In addition to our lending programs, Graco Mortgage offers a variety of real estate advisory services including tax credit consulting, historical and new markets tax credit analysis, financial advisory, and HUD preservation analysis. This breadth of options allows us to secure equity sources that fill critical equity gaps, often creating 100% financing.
We have flexibility and can underwrite on future rents as well as provide rehabilitation financing for properties that have low occupancy and/or suffer from deferred maintenance. We carefully explore all finance options and develop strategies to meet our client's goals.
We have extensive experience in underwriting and funding deals for:
Distressed/Turnaround Properties
- Tax Credits
- Blanket Mortgages
- Section 8 (HAP Contract) Properties
- Low Income Housing Tax Credits
- Rural Affordable Housing
- Non-Profit Affordable Housing
Construction/Substantial Rehab
| Programs |
Loan Amount |
LTV |
Features |
| HUD 221(d)(4) |
No Min, No Max |
90%-95% |
40 year, fixed rate, non-recourse. Allow 10% builders profit credit. |
| USDA 538 |
No Min, No Max |
90% |
40 year, fixed rate, non-recourse. |
Acquisition/Refinance
| Programs |
Loan Amount |
LTV |
Features |
| HUD 223(f) |
No Min, No Max |
80-85% |
Cash out up to 80% of value. 35 year fixed. Allow 7.5% seller financing. |
| HUD a7 (existing HUD loans) |
No Min, No Max |
80-90% |
Reduced processing cost, 30-40 year fixed, non-recourse. |
| HUD 241(a) (existing HUD loans) |
No Min, No Max |
80-90% |
Second mortgage program. |
| HAP Contract & Section 8 |
Min $1,000,000 |
80-85% |
Non-recourse, 30 year fixed. |
| USDA 538 |
No Min, No Max |
90% |
Non-recourse, 30 year fixed. |
| Agency |
Min $1,000,000 |
80% |
Cash out, 30 year fixed. |