With 7 Construction programs to select from, and over 100 direct lending sources, Apartment Loan will match you because of the Multifamily construction loan system that’s right for you.
Apartment Loan Store has specialized in commercial construction financing since 1997. We do construction loans for: Apartment Buildings, Senior Housing/55 and older Communities, Student Housing, and Independent/Assisted Senior that is living Housing.
Apartment/Multifamily Construction Loan Programs (5 + Devices)
1. FHA New Construction or Major Rehabilitation – 85% – 87% of price, Non-Recourse Construction and Perm Loan
Minimal Loan: $5,000,000 Maximum Loan $25M and above
85% of Cost for Market Rate Developments, 87% of Cost for Affordable Housing
Construction Loan rolls over seamlessly to 40 fixed rate perm loan year
Perm Loan Term: 40 Years, Amortization 40 years
Exceptionally minimal 40 12 months fixed price
1. 5 years after conclusion for absorbtion/stabilization
Perm loan rate is locked ahead of construction
Non-Recourse construction and perm loan
No Tax Statements Required
FF&E may be financed
Draws (average bi-monthly)
No minimum Web Worth Requirement
Minimal Post Closing Cash Requirement
Good Credit Required
2. Personal Institutional Construction Loan – Tall LTC. Seamless Roll Up To Perm
Minimal Loan $4,000,000, Optimum Loan $50,000,000
1 Libor plus 4.00% to 5.00% (interest only month)
Subordinate Mezzanine financial obligation may up be allowed to 90% CLTC
Term as much as 3 years
Mini perm perhaps not needed
Roll up to Fannie Mae or Freddie Mac loan that is perm
Draws bi-monthly to monthly
No Pre-payment Penalty
Web Worth needed corresponding to how big is the mortgage for several key principals combined
Post closing liquidity requirement: 10% of this loan quantity
Good Credit Required
3. Nationwide Bank Program – Cheapest Construction Loan Prices, Seamless Transition to Perm Loan
Minimum Loan $10,000,000 Optimum Loan $100,000,000
As much as 70per cent Loan to price
1 libor plus 3.00% to 4.00% interest rate month
Subordinate debt mezzanine loan allowed as much as 80% CLTC
Term 24 – 3 years
No mini perm required
Roll over to Non-Recourse Fannie Mae or Freddie Mac Perm Loan
Draws bi-monthly to monthly
Web Worth requirement 1.5 times the mortgage quantity
Post closing liquidity requirement corresponding to 15% – 20% associated with the loan quantity
Exceptional Credit Required
4. Regional Bank Program – Loan tailored to your requirements, great service
Minimal Loan $4,000,000, Optimum Loan: $18,000,000
As much as 75per cent of price
No subordinate financial obligation permitted
Four weeks Libor plus 4.00% or rate that is prime 1.00% to 2.00percent interest (Interest only payments)
Frequently no mini-perm needed.
Roll up to loan that is perm of choise
Draws regular to bi-weekly
Web Worth Requirement corresponding to greater compared to loan size
Post Closing Liquidity Requirement equal 15percent or more than the mortgage quantity
5. Community Bank Program – Most Readily Useful operating, Local Construction Monitoring
Minimal Loan: $2,000,000 Optimum Loan: $12,000,000
Loan to price up to 75per cent
No subordinate financial obligation permitted
Prime pluse 1.50% to 2.00per cent price (interest only repayments)
Mini-perm available if requirement for stabilization and absorption
Roll up to perm loan of one’s option
48 hour attracts available
No prepayment penalty
Net Worth Requirement corresponding to 50% to 100percent associated with the loan quantity
Post Closing Liquidity requirement corresponding to 10% associated with the loan quantity
Good Credit Required
6. Lifetime Company Program – Very Low Prices, Roll Up To Longer Fixed Speed Perm
Loan to price up to 70per cent
Subordinate Mezzanine financial obligation may be permitted up to 80% CLTC
1 thirty days Libor plus 2.75% to 3.50percent
Mini-perm not necessary
Roll up to extremely rate that is low, 15, 20 or 25 12 months fixed price perm loan
Bi-monthly to month-to-month draws
Net Worth Requirement add up to 1.5 to two times loan quantity
Post Closing Liquidity Requirement corresponding to 20% for the loan amount or greater
Exceptional Credit Required
7. Intense Money Apartment/Multifamily Construction Loan – effortless to Qualify, Fast, Low Documentation, low hassle, dismal credit okay
Minimal Loan $1,500,000 Optimum Loan $25,000,000
Loan to price: 75% to 85per cent
Subordinate financial obligation might be permitted
Term: 12 – 18 https://www.checkmatepaydayloans.com/ months with extensions
Rate: 7.00% to 12.00per cent interest just
Weekly to bi-monthly draws
No Web Worth to Loan Ratio
Extremely Post Closing Liquidity that is low required
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