Multifamily Property
Apartment properties come in all shapes and sizes, ranging from dense, high-rise, urban apartment buildings to sprawling, resort-style complexes in the suburbs complete with swimming pools, fitness centers and outdoor patios.
Bank And Credit Union For Investment Commercial Real Estate
Banks and credit unions generally provide some of the lowest rates available in the market, making them attractive sources of debt for many businesses. These lenders will finance a broad range of property types and are usually flexible with uses of funds. Financing may be used to acquire, develop, construct, or rehab commercial property, as well as to refinance existing debt, or consolidate multiple loans. These lenders provide an assortment of products including fixed and variable rate structures.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
CMBS
CMBS loans are institutional grade commercial mortgage loans that are pooled with other CMBS loans and then securitized into a bond. Generally, loan amounts must be in excess of $2.5 Million and the property types are generally limited to multi-tenant properties such as multifamily properties (5+ units), office buildings, retail properties (e.g., shopping centers), self-storage facilities, or industrial properties (e.g., flex space or warehouses). Flagged hotels are also eligible for CMBS financing, as are single, credit tenant properties.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
Freddie Mac Multifamily Small Balance
The Freddie Mac Small Balance Loan Program is one of the leading financing solutions for multifamily investors, as it provides highly competitive rates, a low cost, streamlined structure, high leverage ratios (up to 80% LTV), flexible prepayment options, a variety of fixed and variable rate programs, and is non-recourse. Loan amounts are limited to $1,000,000 to $6,000,000. Loan proceeds may be used to acquire or finance multifamily properties (5+ units), including those with tax abatements or section 8 vouchers.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
Fannie Mae Multifamily Small Balance
The Fannie Mae Small Balance Loan Program is popular choice among multifamily investors, as it provides highly competitive rates, a low-cost structure, high leverage ratios (up to 80% LTV), flexible prepayment options and non-recourse. Loan amounts are limited to $750,000 to $5,000,000. The program offers a variety of fixed and adjustable rate options to fit any budget, including a full term interest-only option. The Fannie Mae Small Balance Loan Program may be used to acquire or refinance multifamily properties (5+ units), as well as mixed use properties (limited to 25% commercial rentable space with no greater than 20% of effective gross income), and certain Condominium Properties (without fractured ownership).
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
Stated Income For Investors
The Stated Income Loan Program is geared towards borrowers who might not qualify for traditional financing based on their tax returns. Instead, underwriting is based on a combination of bank statements and the sponsor’s credit score. It’s also a great loan program for smaller loans (under $1 Million) and for class B and C properties. Notably, you can get up to 30-year terms with no balloon. Due to the low documentation and increased risk, this loan program requires a minimum credit score in the 600s and the maximum loan to value ratio is generally lower than what banks offer.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
Bridge Program
A bridge loan is a short-term loan that provides financing to acquire a property when traditional financing solutions are unavailable or impractical due to timing restrictions or where the property is unstabilized. Bridge loans are typically arranged quickly, even in a matter of a few days, with relatively little documentation. As private short-term loans, they have higher rates and fees versus conventional or permanent financing, and can be non-recourse based on the characteristics of the deal.
Loan Amount
$500k +
Min. Rate
4%’s
Term Length
Up to 10 yrs
Closing Time
4 – 6 weeks
Max LTV
75%
Amort.
Up to 25 yrs
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