Multifamily Term Loans (5 to 10 Units)
No upfront fees, income verification, or tax returns
Nationwide in 42 States
Primary, secondary and rural
Single property loan amount: $250,000 to $3 million per property
Portfolio loan amount: $500,000 to $20 million+ ($75,000+ per property)
Cash-out, refinance and purchase to 70% LTV
Competitive fixed interest rates
Rate locks
30-year fixed or 5/6, 7/6,10/6 ARMs (partial interest only or 30-year amortization)
DSCR: 1.20X to 1.40X+ (varies with location (top, standard, small, and very small)
Credit: 680+
No vacation or seasonal rentals
Minimum occupancy: 90% by unit count
Leased units: lower of in place or market rent
Unleased units: 90% of market rent (purchase only)
Origination varies
Prepay: 5/4/3/2/1/0, 1 year and no prepay options
Appraisal required
Liquidity: cash to close and interest reserves
Loans close in LLC, corporation name
Recourse or non-recourse with bad-boy carve-outs
No bankruptcy, foreclosure, short sales or deed in lieu last 2 years
First lien; no subordinated debt permitted
U.S.A. citizens, permanent resident aliens and foreign nationals welcome
Click the GET STARTED Link for PRE-APPROVAL within 48 hours for qualified borrowers.
No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks are required for PRE-APPROVAL.