Multi-Family Loans

Ground up Construction, as well as Investment Purchase on all Multifamily projects with Permanent Take Out loan after Construction completed.

Term

  • Up to 60 Month Term

  • Must have occupancy permit within term

Purpose

  • New Construction

  • Value Add

  • Stabilization/Bridge to Perm

Property Type

  • Market Rate Multifamily, Age Restricted

  • 55+, Mixed-Use, Student Housing, Repositioning / Conversions/ Condo/tel

Total Units

  • Up to 250 Units (5 Stories Maximum)

Loan Size

  • Min $10.0 MM

LTV

  • 65% LTV; 65% + LTV

LTC

  • 85% LTC Standard

  • 90% LTC

DSC

  • Minimum 1.2

Borrower Financials

  • 100% Acquisition Equity

  • 5% of Loan Amount Liquidity Post Closing

  • 10% of Loan Amount Liquidity for Max or

  • Outside of Standard Loan Underwriting

Borrower Experience

  • Proven track record with a similar scope project.

Borrower Credit

  • FICO Minimum 700

General Requirements

  • All lending for investment purposes only

  • Interest calculated on drawn balance

  • Construction draws based on inspection report

  • No rural properties

  • 1st Lien Position at all times

Documentation Requirements

Borrower/Guarantor

  • Signed Loan Application

  • Operating Agreement & Articles of Incorporation

  • 2 Month Bank Statements - Each Guarantor & Business

  • Valid Credit Report on Guarantor(s)

Project

  • Appraisal

  • Preliminary Title Report

  • Flood Certification

  • Purchase Contract on Property (if applicable)

5-star Customer Reviews