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Multifamily Financing Guidelines
Multifamily apartment and mixed use apartment financing for loans under $2 million. Through a fixed loan process, borrowers save time and money with reduced document requirements. The abbreviated loan process allows for quick closings.
- Apartment Buildings with 5 or more units
- Mixed Use properties with less than 25% commercial use
- Purchase transactions
- Refinance, cash-out, and no cash-out
- Loan amounts from $250,000 to $2,000,000
- Various prepayment options
- 15 and 30 Year Amortization
- 3, 5, 7, 10, 15 Year Fixed Rate Terms
- No Yield Maintenance
- No Replacement Reserves
- Monthly / Annual Leases Acceptable
- Substitute Leases With Bank Statements
- A, B and C Property Types Considered
- No Balloon or Call Provisions
- Maximum LTV 80% / 85% CLTV
- Minimum DSC of 1.20:1
- 60 Day Rate Lock
- Limited Impound Requirements
- 3% Seller Concession Allowed on Purchases
- 10% Seller 2nd Allowed on a Case by Case Basis
Contact us or a Free Quote.
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