How to Get Apartment Loans

new building from an apartment loanPurchase money available for apartment loans. Now is probably the best time to invest in and purchase an apartment building, multi family housing with 5 or more units. Since funding guidelines are loosening up, more investors are entering the market to buy apartment buildings and complexes thus making it easier to obtain apartment loans. Prices for these types of properties will most likely be lower now in many parts of the United States as the economy starts to improve after the recent recession. This spells opportunity.

Allow us to provide you with an apartment loan. The first step is to contact us and tell us more about your deal. A professional commercial loan officer will evaluate it and provide you with your options.

Our apartment loans are either recourse or non recourse. Depending on your needs and interest rate sensitivity, I’ll outline below the difference between these two programs. Naturally a recourse apartment loan will have the lower interest rate option since there is a personal guarantee by the borrower.

Whether you have a small apartment building or a large apartment complex that you or your organization wants to invest in… We have the loan products you need to get the deal done.

A non-recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. Includes Below market 5, 10, 15, and 30 year fixed rates and loan amounts of $1 million to $20 million!

  • 30 Year amortization
  • No balloons required, like in the past
  • Up to 80% loan to value ratio for eligible projects and locations

Our Recourse Program includes loan amounts of – $500,000 to $10 Million in funding are available now…

* Below Market 3, 5, 7, 10, year fixed rates
* 30 year amortization * No balloons
* Up to 75% LTV for eligible projects and locations

There are stated income programs available to for apartment loans and multi family housing loans. The max loan amount for this is 2 million and the Loan to value ratios varies depending on the property type. When you contact us, a commercial loan officer will explain more about that and other details for this program. This works well for self employed borrowers who may have difficulty providing a history of income. (LTV’s vary from lender to lender. Ask your loan officer.)

Working with a commercial mortgage broker who provides apartment financing connects a borrower to a lender. There are no upfront fees to use our services, we are paid by the lender. We also process the loan and collect required documents. You the borrower are kept informed every step of the way.

Local banks and major lending institutions are more difficult in terms of loan qualification, since they routinely have tighter underwriting guidelines. We provide conventional financing, as well as hard money, where qualifying for the loan is easier and closes much faster than a traditional bank loan.

If you have been turned down by a bank already don’t worry. We have your solution. The first step is to use the email contact form or just call us and tell us about your apartment loan.

We have relationship with lending sources that offer stated programs for apartment buildings. The stated income programs are commercial real estate loans on a stated income basis and documentation is kept to a minimum. Purchase, refinance, and cash out are permitted for apartment building loans.

Resources:
https://www.fanniemae.com/multifamily/

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