•Apartment & Condominium Properties

•Purchase, Refinance, & 1031 Exchange

•Investor LTV 50-75%

•Rates from 7.75%

•3-10 Year Terms

•Up to 25 Year Amortization

•Fees 1-4%

•Recourse & Non-Recourse

•Conventional & Private Capital

•Apartment & Condominium Properties

•Purchase, Refinance, & 1031 Exchange

•Investor LTV 50-60%

•Rates from 7.75%

•1-5 Year Terms

•Up to 10 Year Amortization

•Fees 2-4%

•Recourse

•Conventional & Private Capital

•Apartment & Condominium Properties

•Purchase, Refinance, & Construction

•Owner User LTV 70-85%

•Rates from 8.5%

•3-30 Year Terms

•Up to 35 Year Amortization

•Fees 1.5-4%

•Recourse & Non-Recourse

•FHLMC, FNMA, FHA, & Conventional

•Market Rate Housing

•Student, Senior, & Military Housing

•Affordable Housing

•Garden Style Communities

•Mid-Rise Communities

•High Rise Communities

Multifamily housing refers to residential buildings that contain more than one dwelling unit. These can be apartments, condominiums, or townhomes. Conventional multifamily financing refers to mortgage loans that are made to finance the purchase or refinancing of multifamily properties. Conventional multifamily financing programs typically have loan-to-value (LTV) ratios of 80% or lower, and debt service coverage ratios (DSCR) of around 1.2. The terms of these loans can vary, with 3, 5, 7, 10, 15, 20, 25, and 30-year terms being the most common. Interest-only, balloon payments, and long-term fixed-rate loans are also available.

Freddie Mac is a government-sponsored enterprise that provides a range of mortgage products, including conventional multifamily financing. One of the benefits of borrowing from Freddie Mac is the option to lock in a rate for up to 35 days after the application date. If rates change during the underwriting period, the rate locked in at the time of the application will be applied. Freddie Mac also offers fixed-rate loans with terms of five, seven, or 10 years that amortize over 30 years. Borrowers may be eligible for several years of interest-only payments. Commercial programs may or may not require personal guarantees.

Fannie Mae is a government-sponsored enterprise that provides a range of mortgage products, including financing for multifamily properties. Fannie Mae offers a variety of benefits to borrowers, including long-term fixed rates of up to 30 years, high loan-to-value ratios of up to 80%, and nonrecourse provisions. Nonrecourse provisions allow the borrower to walk away from the property without being held personally liable for the outstanding balance of the loan.

Fannie Mae allows for commercial tenants as long as no more than 35% of a property's net rentable area is leased to these tenants. The agency also offers flexible prepayment penalties and interest-only options. This means that borrowers have the option to pay only the interest on their loan for a certain period of time, rather than the principal and interest. Fannie Mae loans are assumable, which means that they can be transferred to another borrower without the need to re-qualify for the loan. This can make the property more attractive to potential buyers. In addition, Fannie Mae allows for secondary financing, which means that borrowers can take out additional loans on top of their existing mortgage.

The Federal Housing Administration (FHA) offers insured multifamily loans for the acquisition, refinancing, and construction of multifamily properties. The FHA 223(f) loan program offers fully amortizing terms of up to 35 years, while the FHA 221(d)(4) loan program offers up to 43-year loan terms. The 221(d)(4) loan program is a multifamily construction loan that offers up to 3 years of interest-only financing for the construction period, followed by an additional fully amortizing term of up to 40 years.

One of the benefits of FHA-insured multifamily loans is that they offer some of the longest terms and amortizations on the market, which can result in lower monthly payments for borrowers. Another benefit is that the FHA is not able to discriminate based on geographical location or market conditions, making these loans more widely available to a range of borrowers.

•Loan Application

•660 FICO Score

•$100,000 in Annual Revenue

•2 Years of Business Tax Returns (Form 1120-S, 1065, or 1040 Schedule C)

•2 Years of Personal Tax Returns (Form 1040)

•6 Months of Business Bank Statements

•Profit and Loss Statement (Matching Balance Sheet date)

•Balance Sheet (Matching P&L date)

•Pro Forma Projections 2023-2025

•Purchase Price, NOI, Taxes, & Insurance

•No Criminal Record, Foreclosures, or Bankruptcies Within 3 Years

We conduct a soft credit pull that will not affect your credit score. However, in processing your loan application, the lenders with whom we work will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and happens after your application is in the funding process and matched with a lender who is likely to fund your loan.