Multifamily - Apartment Loans

Mulitifamily properties and apartment building mortgages and financing. Provides competitive commercial loans, tiered pricing for acquisition or refinance of multifamily projects, apartment buildings including recently completed projects.

MINIMUM LOAN: $5,000,000.00

LOAN TERM: Up to 30 Years

AMORTIZATION: Up to 30 Years - Interest-only options also available


MAXIMUM LTV: Case by Case


ELIGIBLE PROPERTY TYPES: Multifamily - minimum five units

ELIGIBLE BORROWER: Single Asset Entity

OCCUPANCY REQUIREMENT: 90% Physical Occupancy for 60 days at application 90 days at commitment

TAX AND INSURANCE ESCROWS: Monthly Deposits Required. May be waived if certain criteria are met

REPLACEMENT RESERVES: Underwritten at a minimum of $TBD per unit per annum - Monthly deposits may be waived if certain criteria are met

RECOURSE: Case by Case. In Some Cases Non-Recourse With Standard Exceptions For Fraud and Misrepresentation

COMMERCIAL SPACE: Maximum 20% of net rentable area and maximum 20% of effective gross income

REQUIRED REPORTS: Narrative MAI Appraisal, Property Conditions Assessment and Phase I. Others if applicable

PREPAYMENT: Defeasance or Yield Maintenance

ASSUMABLE: Subject to Approval and Fee

SUBORDINATE FINANCING: Mezzanine allowed subject to approval

SUPPLEMENTAL LOANS: Eligible for secondary financing after 12 months

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

RATE LOCK: Standard 10 day rate lock period. Extended rate lock options available

ORIGINATION FEE: From PAR to 3%+ 1-4 Points. (In Addition to Closing Costs)

IMPORTANT: This is not an offer to make a loan, all requests are subject to normal due-diligence and final approval under conditions that are standard for the specific transaction. The above terms and conditions are subject to change without prior notice and other terms and conditions apply.