Apartment Loan Programs
Apartment Loans are available on fixed and variable rate financing on 5 or more units from lenders.
- Purchase loans up to 80%* of sales price or appraised value
- Refinance maximums are 75% LTV.
- ARM's are based on the LIBOR or MTA index.
- All loans are amortized (payment calculated) over 25 to 30 years.
- Recourse
- Non-Recourse Loans (Fannie Mae) available on $1Mil +.
As of 3/2/2008
|
3 yr ARM
|
5 yr ARM
|
7 yr ARM
|
10 yr Fixed |
15 yr Fixed
|
|
6.30%
|
6.35-6.65%
|
6.30- 6.60%
|
6.31% |
6.31%
|
Rates shown above are for $400,000 to $2,000,000 ( Rates for $2 mil+ are better )
The following is a list of items required for your loan request to be processed and underwritten:
- Current Rent Roll
- Income & Expense Statements (2 yrs.)
- Schedule of Real Estate Owned
- Loan Application
- Color Photos of building (interior & exterior)
- Personal Financial Statement
- Copy of Sales Contract (if purchasing)
Please completely fill out the application so we can better serve your investment property options.
Minimum loan amount of $500,000.
* Special for CA Apartment Properties: Loans > $750,000 only ".25 points" and > $1.5mil - 0 points
* (90% financing with 10% seller carry up to $1.5mil).
Need Financing for 2 to 4 Units
100% financing on Medical Center or Healthcare Medical Facilities