Who has funding for multifamily properties?

[Amy Thornton]

This post is here for the many inquiries we get seeking multifamily funding. For those lenders and brokers on this website with funding for apartments, please respond and let me and everyone else here know what you have to offer!

Leaving LTV, credit score, and downpayment requirements would be great.

Thanks!

[Craig Ross]

Lender Capital Group is a private commercial and SFR investment real estate capital provider. Our clients are opportunistic real estate investors looking for equity and/or debt for the acquisition of N/O/O SFR, or Commercial income producing assets anywhere in the United States. Property owners looking to repurchase their notes, and/or restructure/recapitalize exsisting assets. We focus on providing timely, reliable, and customized solutions that are not accessible through traditional lenders.

[Julian Olson]

California is our Niche state.

We can go up to 65% for refinances, 70% for purchases.

No min DSCR required. No Min Fico Required. Loans to individuals, trusts, corps, LLC's, etc.

We are easy to work with.

I look forward to increasing your sales and profits!

Thanks,

Julian Olson

Account Manager

direct: [phone]

fax: [phone]

[e-mail]

CA DRE No: 01910180; Corp. NMLS No: 365959; Indv. NMLS No: 824818

[T. J. Morrow]

Amy,  We can offer the following program with our life company portfolio program:

Amount:  $1,000,000 to $7,000,000.  Larger participation loans are available.

Property Types:    Shopping centers, office buildings, medical clinics, retirement homes, apartment buildings, warehouses, funeral homes.

Amortization Term:  25 years maximum, with balloon payment required at 5 to 25 years.  Amortization period tied to length of income leases, if any, and the property’s risk profile.

Interest Rate:  Generally 180 - 250 basis points above the 10 year CMT index, with fixed rates available out to 20 years.  Fixed rate loans with mid-term interest rate adjustments are also available.  Property & borrower risk profile are considered in setting rates.

Adjustments in Rate:  Tied to a spread over the 10 year CMT and pre-set at the time of the loan commitment with a floor rate equal to the initial interest rate.

Maximum Loan:  Generally 75 percent of acquisition cost, but capped at 80 percent of current MAI appraisal value.

Cash-Flow Ratio: Generally 1.25 DSC required.  Enhanced financing structures can be used for marginal loans.

 T. J. Morrow

Great Eastern Investments, LLC

Email:  [e-mail]

[William Lanting]

Need Bridge Financing For Acquisitions or Refinancing? United States Only. No New Construction.

 

Thorofare Capital is a private equity fund management firm which specializes in short-term, first mortgage financing for all commercial property types...including hotels, shopping centers, self-storage, multi-family and others. We are a direct, balance sheet lender with discretionary capital for investment.

 

We can analyze, underwrite, structure and close transactions in as little as five business days. Our average turnaround is about 10 business days. Minimum transaction size is $1 million and maximum capacity per transaction is $25 million.

 

Size: $1M to $25M

Location: United States only

Max. LTV: 68% (Can go to 85% with B-piece)

Max. LTC: 90%

Recourse: No, with cash flow lockbox provisions

Term: 1-3 years

Interest Rate: 8.95% - 12.5% fixed, interest-only

Loan Origination Fee: 1.95% - 2.95%

 

William Lanting

Thorofare Capital, Inc.

310.592.4400 (Cell)

[e-mail]

CA BRE License: 01868648

 

 

[Kevin Yeats]

Multifamily funding available.

$500,000 to $20 million

Max LTV 75% (subject to underwriting).

Rates from under 4% (for the very best properties, the very best borrowers and solid numbers) to 6%-7% range (again subject to underwriting).

Funding in 45 to 60 days once all info received

***  NO  UPFRONT  FEES   ***

[e-mail]

[Bruce A McClanahan]

These are all 30-year fully-amortized loans.  Your client has a choice of an ARM tied to 6-month LIBOR, a three-year hybrid, a five-year hybrid, a seven-year hybrid, or a ten-year hybrid.  By far the most popular choice is the five-year hybrid.

The interest rate is incredibly low, starting as low as 3.87% for a purchase money, 5-year hybrid in a Tier I market.  Properties in less-populated and/or less-desirable areas - known as Tier II and Tier III markets - have slightly higher interest rates.

The ARM program and the hybrid programs, after the initial fixed rate period, are tied to six-month LIBOR, with a 3.5% interest rate floor, a ceiling of 6% over the start rate.  On the hybrid loans, there is no periodic rate increase cap on the initial rate readjustment, immediately after the fixed rate period.  After the first rate readjustment, there is a 1% rate readjustment cap every six months.  This loan has no negative amortization.

This program can be used for apartment loans as small as $300,000 to as large as $20 million.  Apartment loans smaller than $1.5 million have slightly higher interest rates, but the interest rate is still very, very attractive. 

The loan-to-value ratio is between 75% and 60%, depending on the property's quality, age, and location, and whether the loan is a purchase-money loan, a rate-and-term refinance, or a cash-out refinance.  We can work with you to quickly make this determination.

In addition to apartments, this program can also be used for 4-star and 5-star mobile home parks (no single-wide coaches), mixed use properties (maximum of 40% commercial), student housing, and, surprisingly, low-income housing.  Caution:  Low-income housing deals are valued based on the lower rents typically found in nearby middle-income areas, so the maximum loan amount is often lower than expected.

Personal guarantees are required from Managing Members, General Partners, corporate officers, and individuals owning 20% or more of the property.

Loans to foreign nationals are available, up to 50% loan-to-value. 

We recommend that you quote your borrower the following:

Interest rate: 5.10%  (Assumes an average building in a Tier II market)

Amortization / Term: 30/30

Prepayment Penalty: 5,4,3,2,1

Please gather for your submission to us:

1.    Color photo's of the property

2.    Rent Roll

3.    Last two years' actual income and expenses.

4.    Financial statement on the borrower.

[William Lanting]

Thorofare Capital is a private equity fund management firm which specializes in short-term, first mortgage financing for all commercial property types...including hotels, shopping centers, self-storage, multi-family and others. We are a direct, balance sheet lender with discretionary capital for investment.

 

We can analyze, underwrite, structure and close transactions in as little as five business days. Our average turnaround is about 10 business days. Minimum transaction size is $1 million and maximum capacity per transaction is $25 million.

 

Size: $1M to $25M

Location: United States only

Max. LTV: 68% (Can go to 85% with B-piece)

Max. LTC: 90%

Recourse: No, with cash flow lockbox provisions

Term: 1-3 years

Interest Rate: 8.95% - 12.5% fixed, interest-only

Loan Origination Fee: 1.95% - 2.95%

 

William Lanting

Thorofare Capital, Inc.

310.592.4400 (Cell)

[e-mail]

CA BRE License: 01868648

 

[Meredith Weiss]

Brokers and Borrowers welcome.

COMMERCIAL Purchase, Refi, Cash Out Refi: $100k - $4mil. Up to 70% LTV + 100% REHAB (Not greater than 65% ARV) Cash Out Refi – not greater than 60% LTV. 9-13%, Interest Only, No pre-pay penalty. Up to 12 months/6 month extension. 10-15 days to close. 2-4 points. Nationwide USA. (On some deals can go higher than $4 mil)

RESIDENTIAL Purchase, Refi, FIX-n-FLIPS! 1-4 units, Up to 80% on Purchase, 100% REHAB (not to exceed 65% ARV), 30 day loans to 12 months, Min $100k, 10-14%, Interest only, No pre pay penalty, 2-4 points, Can close in 10 biz days in most cases, Nationwide USA. No owner occupied.

We also offer Blanket loans. Blanket loans require a minimum of two properties, minimum of $100k each.


Meredith J. Weiss
[e-mail]
Private Money Nationwide

[Tony Chorrushi]

Hi Amy Thornton,

Just about every Lender likes Income producing properties; they are one of the easiest properties to get funded. LTV depends on the property and the borrower, credit score as low as 500 can get fund, some lenders allow some seller carry however, the borrower would have to have at least 10% cash in the deal.

I am an Independent Business Consultant; correspondent lender and/or approved broker and have access to a pool of direct lenders, banks, portfolios, private investors, institutions, hedge funds, insurance companies, CMBS, REITS, construction, specialty funds, bridge, mezzanine and equity partners; which results in the lowest rates and highest loan closing ratios than a single product lender.

Give me a call to discuss your or yours clients opportunity options.

Best Regards,
Tony Chorrushi
765 236-6002
http://www.tmlg.net

[Sullivan Smith]

Hi Amy,  my name is Sullivan Smith, CEO of Capline Commercial Funding, LLC. I noticed your post on Request of Funding for multifamily properties.  Listed below is my company information on funding requirements.

 

 COMMERCIAL FUNDING REQUIREMENTS

 

Minimum Amount $250K up to Maximum Amount $500M.

All commercial property types will be considered.

Alternative Energy, Oil and Gas, Mobile Home Parks, Light Industrial, Car Washes, Warehouses, Marinas, Refinance, Automotive Services, Office Buildings, Mixed-Use Buildings, Restaurants, Shopping Malls, Apartment Buildings, Auto Dealerships, Funeral Homes, Raw Land Lots, Self-Storage Units, Bed & Breakfast, Hotels/Motels, Retail, Gas Stations, Assisted Living, Retail Stores, Shopping Centers, Golf Courses, Condo-hotels, Medical Facilities, Condominiums, Construction and much more.                                                                   

Rates depend on the project and collateral type. Every commercial real estate transaction is unique in its own way, so we encourage you to contact us so one of our Processors may contact you with the necessary documents needed so your loan request may be considered and on the way to be funded.

 Ct:  Sullivan Smith, CEO

Capline Commercial Funding, LLC

       323-854-0368 (Cell)

[jim flynn]

We have a great program for you to look at for your projects.Must be over 25 units.

Interest Rates

Fixed for 5, 7 10, 15 or 30 years

Term

40 years maximum

Amortization

25 to 40 years

Debt Coverage Ratio

1.25 minimum

Loan-to-value

90% maximum

[Rene Beverly]

TAMCO Capital can provide funding your commercial deals between $75,000 to $350,000. 60% LTV Small apartments, Mixed Use, Retail, Office, Warehouse, Hotel/Motel, Recreation, Daycare, Hair Salon, Auto Body, Funeral Home, Church, Self Storage, Convenience and more. Close in 2-3 weeks. Credit scores from 475. No Seasoning or Penalty for Early Payoff.

Contact: [e-mail]

Larger deals from $2MM to $25MM considered case-by-case by our senior analysts.

TAMCO Capital can provide funding your commercial deals between $75,000 to $350,000. 60% LTV Small apartments, Mixed Use, Retail, Office, Warehouse, Hotel/Motel, Recreation, Daycare, Hair Salon, Auto Body, Funeral Home, Church, Self Storage, Convenience and more. Close in 2-3 weeks. Credit scores from 475. No Seasoning or Penalty for Early Payoff.

Contact: [e-mail]

Larger deals from $2MM to $25MM considered case-by-case by our senior analysts.