Apartments
Location:
Nationwide
Type:
Acquisitions, refinances, and new construction of apartment and multi-family properties
Loan Options:
Fixed and adjustable loans
Amortization:
15, 20, 25, 30, and 40 years
Term:
10, 20, 25, and 40 years
Loan-to-Value
Multi-family and apartment financing: 75-90% LTV
Debt Service:
DSCR on apartment loans and multi-family properties is 1.11% - 1.20%
Collateral:
Apartment investment mortgage loans on real property
Property Types:
Multi-family 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, multi-family apartment loans with retail on bottom floor
- Conduit Loans of multi-family properties with 20 or more units
- Permanent, construction or substantial rehabilitation
Loan Programs:
Highly competitive with a wide array of rate plans including:
- 3, 5, 7, 10, 15, 25, 30, 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
Prepayment
Pre-payment penalties are common when searching for the best and lowest fixed rate. 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
Loan-to-Value
- 90% for construction
- 85% for purchase or refinance
- 75% for cash-out refinance
Rate Lock:
60-day lock-in is available. Advanced deposit is required and credited towards loan closing.
5+ Unit Multifamily Apartments
Location:
Nationwide
Type:
Acquisitions, refinances, and new construction of apartment and multi-family properties
Loan Options:
Fixed and adjustable loans
Amortization:
15, 20, 25, 30, and 40 years
Term:
10, 20, 25, and 40 years
Loan-to-Value
Multi-family and apartment financing: 75-90% LTV
Debt Service:
DSCR on apartment loans and multi-family properties is 1.11% - 1.20%
Collateral:
Apartment investment mortgage loans on real property
Property Types:
Multi-family 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, multi-family apartment loans with retail on bottom floor
- Conduit Loans of multi-family properties with 20 or more units
- Permanent, construction or substantial rehabilitation
Loan Programs:
Highly competitive with a wide array of rate plans including:
- 3, 5, 7, 10, 15, 25, 30, 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
Prepayment
Pre-payment penalties are common when searching for the best and lowest fixed rate. 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
Loan-to-Value
- 90% for construction
- 85% for purchase or refinance
- 75% for cash-out refinance
Rate Lock:
60-day lock-in is available. Advanced deposit is required and credited towards loan closing.