Multifamily Loans
We Provide FHA Insured Multifamily Loans for:
-
New Multifamily Construction Current Rates November 2023: 6.00%
-
Multifamily Loan Refinance Current Rates November 2023: 5.75%
-
Multifamily Substantial Rehabilitation Loan Current Rates November 2023: 6.00%
-
Multifamily Acquisition Loan Current Rates November 2023: 5.75%
New Multifamily Construction
-
85% Loan-to-Cost
-
Interest-only construction loan that automatically converts to 40-year permanent financing
-
40 Year Amortization
-
40 Year Term (no balloon)
-
No maximum loan amount
-
Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
-
“Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
-
No personal liability (non-recourse)
-
Negotiable pre-payment terms
-
1:20 Minimum Debt Service Coverage
-
This loan is always assumable
-
Third-party expenses and loan costs are financeable
Multifamily Acquisition Loan
-
85% Loan-to-Value
-
35 Year Amortization
-
35 Year Term (no balloon)
-
7.5% Seller promissory note allowed for down payment requirements
-
No maximum loan amount
-
Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
-
No personal liability (non-recourse)
-
Negotiable pre-payment terms
-
1:20 Minimum Debt Service Coverage
-
This loan is always assumable
-
Third-party expenses and loan costs are financeable
Multifamily Substantial Rehabilitation Loan
-
85% Loan-to-Cost
-
Interest-only construction loan that automatically converts to 40-year permanent financing
-
40 Year Amortization
-
40 Year Term (no balloon)
-
No maximum loan amount
-
Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
-
“Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
-
No personal liability (non-recourse)
-
Negotiable pre-payment terms
-
1:20 Minimum Debt Service Coverage
-
This loan is always assumable
-
Third-party expenses and loan costs are financeable
Multifamily Loan Refinance
-
85% Loan-to-Value (80% with cash out)
-
35 Year Amortization
-
35 Year Term (no balloon)
-
No maximum loan amount
-
Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.
-
No personal liability (non-recourse)
-
Negotiable pre-payment terms
-
1:20 Minimum Debt Service Coverage
-
This loan is always assumable
-
Third-party expenses and loan costs are financeable