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Currently Viewing: Multifamily Loans | Home

Multifamily Lending

Description: Streamlined, long-term fixed rate financing for investment properties up to $5 million.  

Eligible Property Types: Acquisition or refinance of multifamily properties (minimum 5 units).

Loan Amount: $750,000 – $5,000,000 in Baltimore, Boston, Chicago, Los Angeles, New York, Orange County, Sacramento, San Diego, San Francisco, Seattle and Washington DC.  

$750,000 – $3,000,000 in all other markets.  

Underwriting Floor Rates:

5 Year loans:

Tier 2: Greater of 6.00% or Actual

Tier 3: Greater of 5.75% or Actual

Tier 4: No Floor 

7 Year loans:

Tier 2: Greater of 5.75% or Actual

Tier 3: Greater of 5.25% or Actual

Tier 4: No Floor 

10 Year loans: 

Tier 2: Greater of 5.50% or Actual

Tier 3: No Floor  Tier 4: No Floor 

Credit Score Requirement: Minimum FICO Requirement has been met by all Key Principals (680 or greater).

Loan Terms: Balloon loan terms of 5, 7, 10 or 15 years with amortizing terms up to 30 years or fully amortizing loans with terms up to 30 years.  

7 or 10 year Hybrid loans available upon request (rebates are not available at this time). 

Seasoning: If less than 12 months have passed between the closing date of an acquisition of the Property and the date of the Commitment, the lower of (1) the appraised value as reviewed above, or (2) the Property acquisition price plus the cost (to the extent such costs increase the value of the Property) of any repairs completed and fully paid for prior to Commitment, or for which funds are to be deposited by the Borrower to the Lender pursuant to a Completion/Repair Agreement, plus actual acquisition closing costs not exceeding 3 percent of the acquisition price.

Amortization: 25 to 30 years, depending on the age of property and condition. 

Liquidity: 6 months of debt service  

Net worth: Must exceed the loan amount

Interest Only: Only 2 years of interest only is available for loans with terms of 10 years or more (the cost is 3 basis points) 

Prepayment Penalty: Yield maintenance formula with a 1% minimum. (Declining Percentage Fee is available upon request.)  

Debt Service Coverage: 1.20x minimum DSCR

Funded

Property Type: Office

Located in: Los Angeles CA

Loan amount: $2,100,000

142

98

Property Type: Light industrial

Located in: Oakley CA

Loan amount: $925,000

142

98

Property Type: Restaurant

Located in: Washington DC

Loan amount: $850,000

142

98

Property Type: Multifamily

Located in: Fayetteville NC

Loan amount: $380,000

142

98

Property Type: Multifamily

Located in: Washington DC

Loan amount: $650,000

142

98

Property Type: Retail

Located in: Woodbridge VA

Loan amount: $434,000

142

98

Property Type: Warehouse

Located in: Boulder CO

Loan amount: $640,000

142

98

Property Type: Light Industrial/Warehouse

Located in: Bakersfield, CA

Loan amount: $865,000

142

107

Property Type: Retail

Located in: Schertz, TX

Loan amount: $380,000

142

191

Property Type: Retail/Office

Located in: North Dartmouth, MA

Loan amount: $760,000

1024

680

Property Type: Mixed Use

Located in: New Orleans, LA

Loan amount: $582,000

142

107

Property Type: Mixed Use

Located in: Philadelphia, PA

Loan amount: $220,000

142

107

Property Type: Automotive

Located in: Bronx, NY

Loan amount: $510,000

142

107

Property Type: Office/Warehouse

Located in: Boynton Beach, FL

Loan amount: $450,000

142

107

Property Type: Motel

Located in: Stockton CA

Loan amount: $230,000

800

600

Property Type: Multi-Family,

Located in: High Point, NC

Loan amount: $398,000

533

400

Property Type: Retail refi

Located in: Upland, CA

Loan amount: $750,000

600

450

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Property Type: Office

Located in: Los Angeles CA

Loan amount: $2,100,000

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