For the Best in Apartment Financing

 

*  Rates subject to change and can vary depending upon loan size,                property quality, loan to value and debt service coverage. Quoted at 80%LTV.    Lower LTVs get reduced rates. Loans below $2mm have slightly higher rates.

 

 

Geographic Coverage:   Nationwide- All States

Loan Size:    $750,000 and up

Loan Types:  Fixed Rates Only  

Terms:  5-30 years

Loan to Value (LTV):   80%  & CLTV to 85%

Loan Amortization:  30 years with options of interest only payments up to 10 years

Liability:  Non-recourse to borrower

Prepayment:   Yield maintenance or options of declining balance

Closing Process:  Typically 45 to 60 days from receipt of a complete application

Assumability & Early Rate Lock:  Yes  

 

Items Needed for Specific Loan Quote:

1.       Last two year & year to date property operating statements

2.       Current rent roll

3.       Exterior photos of the property, "if possible "   

4.     Approx. sq. footage per unit type.  ie.   Number of one bedroom units and approx. square footage of each.  Same for other unit types. 

5.   Last 6 months gross monthly revenues by the month.  For loans over $2mm we like to see a 12 month trailing profit and loss statement.