APARTMENT BUILDING FINANCING OPPORTUNITIES AVAILABLE
Fannie Mae Small Loan Program Excellent Apt. financing - Up to 80% LTV - 5+ units - Loan amounts from $1,000,000 to $3,000,000 - 10 yr. fixed rates with 30-year amortization. 20% Commercial influence allowed. Rates for 10-year fixed loans are currently around 5.2%. This is the best financing available for apartment buildings if the property and the borrower qualify.
Nationwide Program This program offers excellent interest rates from 5.5% to 6.5% (varies depending on market). Loan amounts from $500,000 to $5,000,000. Limited cash-out refinances with less than 24 months ownership. 60-70% LTV, 30-year amortization and reasonable closing costs. Borrower must have market experience and minimum 680 credit. No significant deferred maintenance. A solid alternative to local bank financing. Local Banks Available for New England area only. Loan amounts from $250,000. Up to 75% LTV with rates from the high 5's with up to 35-year amortization. Up to 70% LTV for cash-out refinances with just one-year seasoning required. Rehab money available. HUD 221d4 Rehab Loan Program Available for rehab of vacant or mostly vacant apartment properties (You can also use this program on Mill and Mercantile buildings). You can finance up to 90% of both hard and soft costs. It is a straight 40-year fixed mortgage and it is non-recourse. Rates are currently in the mid 6's. You can work out prepay burnoff after 5 years. Minimum loan amount is $5,000,000.
<HUD 223-f Loan Program Available for permanent apartment financing. Minimum loan amount is $4,000,000. Up to 85% LTV with 35-year fully amortizing fixed terms. This program with allow the seller to hold a second mortgage up to 7.5% of the purchase price for a combined LTV of up to 92.5%. Rates are currently in the mid 5's.
The most important step in purchasing a property is to find the Lending Institution that will finance your purchase. We work with many Lending Institutions who will work with you to achieve your goal.
Not all lenders finance commercial properties, but we are able to provide you with Lenders who either have financed other commercial properties in the area you plan to buy or Lenders who have informed us they are able to finance a certain property.
Let us help you with your goal of purchasing an investment property.
The form below can be used to provide us with more detail as to the loan or specific property you wish to acquire. Please complete the form with as much detail as possible.
Cawley Realty Group, a subsidiary of Partners Investment Properties 2012 All Rights Reserved Note: Material, pictures and information pertaining to properties listed is for the sole and exclusive use of our clients and may not be reprinted or reproduced in any manner, in whole or in part, without the specific written permission of Partners Investment Properties, LLC. Any infringement will be subject to legal redress. Disclaimer
