Our Loan Programs
We carry a varying range of products from FHA, Unconventional and Bridge Loans. Our most popular products are shown below. Please call for more information or submit your project to us for a fast quote in 48 hours. If you don't see a program that matches, never fear, we can accommodate your needs. Large and specialty project financing can be found on one of our other pages.
FHA LOANS
New Construction
Mortgage Amount
- New construction - the lesser of:
* 90% of lender's estimate of replacement cost.
* HUD's statutory mortgage limits, as adjusted by location.
* A loan amount, which could be serviced by 90% of the property's NOI.
Amortization - Up to 40 year basis.
Interest Rate - Set at commitment.
Personal Liability - None.
Second Mortgages - May be allowed.
Assumability - The 221(d)(4)loans are fully assumable with approval.
Rental Requirement - HUD requires any property financed via 221(d)(4) remain rental housing for five years.
Acquisition and Refinancing
Mortgage Amount
- Purchase: 85% of all acquisition, closing and repair costs.
- Refinancing: the greater of:
* 100% of all refinance, closing and repair costs.
* 70% of the lender's estimate of value. - The loan may not exceed 85% of value.
Term - Maximum of 35 years
Amortization - 35 year basis
Interest Rate - The rate will be fixed for the 35 year life of the loan and will be set at commitment.
Personal Liability - None
Bridge Loans/Hard Money
To help you the borrower bridge the gap between project needs and permanent financing.
Multifamily Bridge Programs:
This program offers a solution for in-transition multifamily nationwide.
- Loan size from $1,000,000 to $50,000,000
- Apartments, Assisted-Living, Mobile Home Parks
- Up to 75% LTC
- 1 to 5-Year Terms
- Interest Rate: 5.25% to 15.00%
- Interest Only
- 30-day closing from Date of Application
Collateral Types Accepted
Multi-Family Complexes: Up to 75% LTV
Multi-Family Rehab: Must be 50% occupied
Mixed Use: Up to 75%
Student Housing: Up to 75%
Private Lending
Multifamily Growth Program:
This program offers a solution for stabilized properties nationwide.
- Loan size from $1,000,000 to $50,000,000
- Apartments, Assisted-Living, Mobile Home Parks
- Up to 80% LTV
- 5, 7 and 10-Year Terms
- Interest Rates: 5.25% to 6.75%
- 30-Year Amortization
- 1.20x to 1.25x DSCR
- Prepayment: Yield Maintenance or Step Down
- Non-Recourse for approved borrowers
- 45-day closing from Date of Application
Submission Requirements for Initial Quote:
- Property income and expense statements (3 years & YTD)
- Current rent roll
- Digital color photographs
- Current Financial Statement for each Principal / Guarantor
See our NEW Unconventional Loan offer....
