Maximum loan to cost: 80% to 92% of cost; may be funded in one or more advances.

Maximum loan to value: 65% to 80% of the real estate completed property value

Minimum DSCR: 1.0DCR provided borrower has funded adequate interest reserves.

Holdbacks: In some cases the loan will be made at the future value but a portion will be "held back" until improvements are completed or vacancy is decreased or some other value-add goal is met.

Security: First Mortgage on the property.
Term: 1 to 3 years with extensions as necessary, up to 60 months.

Amortization: Interest only available

Prepayment terms: No prepayment penalties

Projects: All commercial property types can be financed. Developer and contractor must have experience at this type and scale of development.

Recourse: Yes, with exceptions

Closing costs: Borrowers are responsible for all due diligence and closings costs (e.g. Appraisal, Phase 1 Environmental, site inspection, title, etc)
Bridge Loans under $3M - costs range from $6,000 to $12,000
For bridge loans over $3M - costs can be $20,000 or more

Types of Apartment Loan programs range from all types of apartment funds including Fannie Mae, Freddie Mac, FHA/HUD, Conduit, private and portfolio commercial loan programs. Apartment Financing permanent and variable interest rate loans with funding terms from 5 to 20 years for stabilized and unstable investment properties.

Bridge and construction multifamily loans have short term bridge loans to help in creating real estate cash value in your property.

Loan equity and mezzanine/2nd T.D. loans offer cash equity to help add property value over a shorter length of investment time.

Maximum loan dollars on apartments are generally at 75% to 80% of the as is value with interest rates fixed over the 10 year US Treasury bill rate plus spread depending on the investment grade or quality. Occupancy Levels are looked upon favorably between 80% to 90% unless rehab is requested.

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