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  Premium Multifamily Financing 

For The Experienced Investor  

 

 FIXED RATE MORTGAGES
 July  2010 5 Yrs 7 Yrs 10 Yrs 15 Yrs
 Starting From 3.70% 4.12% 4.15% 4.60%
 Interest rates can vary, dependent upon LTV & loan size

ARM Rates from 4.00%

 To learn more call........ 866.811.9217

 

    Loan Parameters
  Coverage:   Nationwide & Pop. 50,000+   Maximum LTV:  80% ( 65% for MI, OH, FL, IN ) 
  Loan Size:   $750,000 to $25,000,000 +  Terms:  5-30 years with 30 year amortization
     Loan Features
  Liability:  No personal liability for most loans  
  Transferable: Loans are assumable to a buyer for speedy ownership transfer.
  Flexibility:  Little restriction on cash out refinances and no deposit relationships required
  Secondary Financing:  Allows investor in future years to draw equity from the property without having to refinance the 1st mortgage with low secondary interest rate loans.  CLTV up to 80%
    Misc. Loan Information
  Closing Process:  45-60 days Report Costs:  From $2,750+
  Prepayment Penalty: Step Down or Yield Maintenance
  Minimum Occupancy:  85-90% for loans up to $3MM and 85% for over $3MM for 90 days prior
    Investor Requirements
  Minimum net worth  & liquidity needed Minimum credit FICO score of 680
  Live within 100 miles of property or have two years of similar size property ownership experience
    Initial Approval Underwriting Requirements
  Current detailed rent roll Rentable square footage of property
  A few exterior color photos of the property, "if possible " via email   
  Last two year & year to date property operating statements...no tax returns required for verification
  Current personal financial statement & real estate schedule ( forms can be provided )
  For loans over $3mm a 12 month trailing profit and loss statement by the month is requested.
    Contact
  San Francisco  Phone: 415.236.1770
  New York Phone: 917.386.6128
  Chicago Phone: 773.347.0039
  Email: ApartmentLoans@PriBank.com  

                                                                           

                                        

 

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