Multifamily Small Loans Criteria

Loan Amount
$1,000,000 minimum – $3,000,000 (or $5,000,000 in major MSAs) maximum

Loan Term
Up to 30 Years

Up to 30 Years

Minimum DSC

Maximum LTV

Fixed Rate

Adjustable Rate
Available. Priced off the one-month or three-month LIBOR.  Convertible and non-convertible options available

Eligible Property
Multifamily, minimum five units

Occupancy Requirement
90% physical occupancy

Tax and Insurance Escrows
Monthly deposits required.

Replacement Reserves
Underwritten at a minimum $200 per unit per annum

Non-recourse available in certain markets.

Required Reports
Appraisal, Reduced Physical Needs
Assessment and Environmental Screen

Yield Maintenance. 5-4-3-2-1 available for ARM only

Tiered Pricing Matrix.  More favorable terms available for higher DSC and lower LTV

Application Deposit
$4,500. Covers underwriting costs (including processing fee and site inspection)

Origination Fee
Minimum 1%. Par pricing available

Good Faith Deposit-Taken at time of loan commitment and refunded at closing
2% of loan amount
1% of loan amount for certain transactions of $3 million or less with commitment periods of 45 days or less

Contact us to see if your apartment complex transaction qualifies for financing.


2 thoughts on “Multifamily Small Loans Criteria

  1. Pingback: Multifamily Financing Tips « Commercial Finance

  2. Pingback: Financing Apartment Buildings « Commercial Finance

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s