Multifamily value-add bridge loans for properties that need light, cosmetic rehab stabilization loan program
A, B, C Apartments, affordable and workforce housing with 5+ units
$1 Million to $20 Million
Finance 85% LTC of purchase/refinance plus rehab up to 75% of ARV
Cash-out options available
Rates as low as 5.75% on drawn funds
Interest only
No upfront fees, tax returns or income verification
Fast, streamlined funding in 4 to 8 weeks
- Nationwide (primary, secondary and tertiary markets)
- 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 penalties: none (minimum interest 6 to 12 months)
- Non-recourse for 25 to 50 bps
- In place DSCR N/A; Takeout DSCR >1.20x with agency debt assumption of 2 year proforma
- Must close in LLC or corporation name
- Liquidity required: 9 months of loan payments + 20% of rehab budget
- Net worth must equal loan amount
- No bankruptcy last 7 years
- No foreclosure, deed in lieu or short sales last 4 years
- Subordinate debt not permitted
- Foreign nationals with leverage reduction
- Fast, streamlined due dilligence and funding
- In-house servicing
To submit your online loan request, please click the blue GET STARTED Link for your PRE- APPROVAL Term Sheet within two business days. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL.
