Graco Mortgage Apartment Building Loan Program

Graco Mortgage Small Balance Apartment Loan Program provided competitive, low cost apartment financing for five plus individual multifamily units, mixed-use commercial properties with less than 25% of revenue generated from commercial use and mobile home park communities.

With competitive rates, a low overall cost basis, exceptional  terms and a simplified streamline loan process. Graco Mortgage has become the leading small balance apartment loan program.

• Loans available from $750,000 to $5,000,000
• Available in major metro markets in 10 western states*
• Now Offering Forward Rate Locks for up to 60 days

   

• 5-YEAR FIXED starting at -  3.610%
• 7-YEAR FIXED starting at -  4.400%
• 10-YEAR FIXED starting at - 4.6500%

   

  Graco Mortgage Apartment  Building Loan Program Overview

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• * Apartment Loans from $500,000 - $50,000,000                                    * 90% Minimum Occupancy

  * 15 and 30 year Amortizations                                                                * No Balloon or Call Provisions
  * 3,5, 7, 10, 15 Year Fixed Rate Terms                                                    * Maximum LTV 80% / 85% CLTV

  * No Defeasance or Yield Maintenance                                                   * Step Down Payment

  * Interest Only Option                                                                               * Minimum DSC of 1:20:1

  * Low Lender Points                                                                                * Standard 1 Fee Closing

  * Limited Appraisal                                                                                   * 60 day rate lock

  * Monthly / Annual Leases Accepted                                                      * Limited Impound Requirements

  * 3% Seller Concession Allowed on Purchases                                     * Section 8 - Subsidized Rents - OK

   

  Apartment BuildingPurchases

  * A, B and C Property Types Considered

  * 10% Seller 2nd Considered on a Case by Case Basis

  * Mixed Use Commercial/Residential Acceptable to 25% Commercial Use

  * Small Balance Multifamily Loan Program Option Starting at $500,000

  * Mobile Home Parks Eligible for Apartment Loan Program with 15+ Pads

  * Property management experience is generally required for properties with 12 or more units, or property management letter and resume may be substituted.