Multifamily Apartment Mortgage Lender – Small Balance
Low, fixed mortgage rates & permanent long-term financing for apartment buildings. We also offer direct “in house” underwriting approvals for shorter-term, bridge financing solutions. Stated Income loans for apartment buildings and manufactured housing communities located in average to above-average areas, on a nationwide basis.
Direct Money Lenders small balance multifamily mortgage ranging from $500,000 – $3,000,0000. Our firm offers many advantages over your local bank. First, we are lending to the investor that understands the U.S. tax code. Second, we will not string you along for weeks without a decision. Third, we have about a dozen of the top national small balance apartment programs available today. Direct Money Lenders does not charge any upfront fees prior to Loan Terms. Our turnaround time and expertise can’t be beat. Most bankable or “A” deals are jointly underwritten with one of the capital partners we understand would like your situation. – Purchase – Refinance – Cash out options available.
In today’s economic climate, many regional/national banks have historically not liked working with out-of-state investors, those who write down expenses on their tax returns, or self-manage their own rental. Direct Money Lenders is actively providing small balance multifamily apartment loans, nationwide. We have established excellent, long-term relationships and have a solid reputation in the market place. We strive to provide you the most current products available at the most competitive pricing, with concierge-type customer service.
Direct Money Lender’s experts will give you a quick and HONEST answer.
Call us today – 800-838-1889 – Virtually all Commercial Property Types Considered!
Small Balance Apartment Mortgage General Guidelines:
| Eligible Properties | Retail, Office, Mixed Use, Self Storage, Multifamily, Apartments, Mobile Home Park, Warehouse, Light Industrial, Investment SFR’s (1-4 units) |
| Minimum Loan Size | $100,000 – $3,000,000+ |
| Pricing | Tiered pricing based on LTV and DSCR We can work with many document types and FICO scores |
| Loan Terms | 1 – 30 year fixed terms with 20 – 25 – 30 year amortization – Interest only payments |
| Prepayment | None – Yield Maintenance – Declining |
| Personal Guarantees | Recourse or Non-recourse with standard carve outs |
| Minimum DSC | 1.0 – 1.35 |
| New Equity (cash) Requirements |
Typically no new cash for Refinance or cash out – Purchase minimum – 10% – 20% of total projected cost |
| Loan-to-Value | Up to 80% |
| Occupancy Requirements | Stabilized or not stabilized properties considered – 12 month trailing cash flow should support minimum DSCR requirements for max LTV. |
| Third Party Reports | Appraisal Phase I environmental or insurance Property inspection ALTA land survey |
| Preliminary Submission Package For Multifamily Financing: | Include the following in your request for a Apartment mortgage quote: 1. Property description, address, & current debt structure – Well written summary 2. Representative color photographs – (6 – 7 preferred) 3. Operating statements – YTD & prior – (1 – 2 years preferred) 4. Personal and business tax returns – (2 – 3 years preferred) 5. Current rent rolls 6. Sources & uses 7. Sponsor’s resume |
