Multifamily stabilized bridge loans for properties that need seasoning to qualify for permanent financing
No upfront fees, tax returns or income verification
Apartments, affordable and workforce housing
$1 Million to $20 Million
Finance 80% of purchase
Refinance 75% of appraised value
Cash-out options available
6.5%+ fixed (lower with buy-downs)
Interest only
Fast, streamlined funding in 4 to 6 weeks
- Nationwide (primary, secondary and tertiary markets for Class A, B and C properties)
- No rehab
- For cash-outs: no monthly payments until 4th month (3 months PITA escrowed)
- 680+ mid FICO credit score
- Term: 24 months plus 2 one year extensions
- Origination: varies
- Prepayment: none (minimum interest 6 to 12 months)
- Non-recourse for 25 to 50 bps
- In place DSCR >1.05x; Takeout DSCR >1.20x with agency debt assumption of 2 year proforma
- Must close in LLC or corporation name
- Liquidity required: 6 months of loan payments
- Combined net worth for all sponsors up to $5 Million
- No bankruptcy last 7 years
- No foreclosure, deed in lieu or short sales last 4 years
- Subordinate debt not permitted
- Foreign nationals with reduced leverage
- Fast, streamlined due diligence and funding
- In-house servicing
To submit your online loan request, click the blue GET STARTED Link for your PRE- APPROVAL Term Sheet within 48 business hours. No upfront fees, credit cards, tax returns, income verification, Social Security Numbers, or credit checks required for PRE-APPROVAL.
