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Overview of Multifamily and Senior Healthcare Loan Programs

(1) FHA/HUD

  • Nationwide
  • 2.75% fixed 35 years fully amortizing
  • Our fee is included in the interest rate
  • $3.5 Million to $100 Million+
  • No tax returns required
  • Multifamily, mixed-use, mobile home parks (15+ pads), affordable, student, assisted living, nursing homes and skilled nursing care facilities
  • High LTV: refinance and cash-out 80% of appraised value; finance 90% of purchse price
  • Best terms FHA-HUD loans close in 6 months; Fannie Mae & Freddie Mac loans close 2 months
  • Fast Track Program closes in 45 days; FHA-HUD loan pays off Fast Track when ready to close)
  • No balloons
  • Nonrecourse
  • Assumable
  • Property condition important; must be 90%l eased
  • 50,000+ population within 5 miles;
  • FHA-HUD more flexible about propety location than Fannie Mae and Freddie Mac
  • Debt Service Coverage Ratio 1.25X+
  • Must have equivalent multifamily ownership experience in last 3 years
  • 660+ credit 
  • Borrower net worth greater than loan amount (all key principals combined) 
  • Borrower liquidity: 10%+ of loan amount (all key principals combined)
  • No bankruptcy, short-sales or foreclosures in last 5 years
  • Eagle is a correspondent lender for the largest FHA-HUD commercial lender in USA. We close more than half of all FHA-HUD commercial loans. All the banks and other lenders close less than the other half. We rank in top 8 to 10% for FNMA and Freddie MAC.
  • No upfront Eagle fees

(2) Fannie Mae and Freddie Mac stabilized multifamily loans

  • Nationwide
  • Loans close in 2 Month Close
  • 3% to 3.75% Fixed-Rate
  • $3 Million to $100 Million+
  • Term: 5, 7, 10, 15 year balloon options or 20, 25 or 30 year fully amortizing permanent loans
  • Interest only option
  • Cash-out and refinance 80% of appraised value; if property owned less than 12 months, finance lower of 80% of appraised value or purchase price + value add rehab + closing costs
  • Finance 80% of purchase price
  • DSCR1.25x+
  • Non-recourse
  • Assumable
  • Must close in a USA single asset LLC or corporation
  • Prepay: Yield maintenance with no lockout, defeasance or fixed step-down schedules
  • MAI appraisal, physical needs assessment, environmental phase I & seismic report in zones 3 & 4
  • Reserves: tax, insurance, repair and replacement required unless less than 65% LTV 
  • Application fee: $15,000 for 3rd party reports, processing and underwriting costs
  • Origination fee built into interest rate
  • Legal fees: $8,000 to $12,000
  • Rate lock after commitment issued; streamlined rate lock option within 4 weeks of application
  • Assumable with approval of proposed replacement borrower

(3) Low rate multifamily private money loans for credit worthy investors with stabilized properties who want a better alternative than bank financing…

  • Nationwide 
  • 5+ units (A, B & C property types)
  • 100,000+ population
  • $1 Million to $50 Million
  • 3.25% to 4.85%+
  • Low points and loan costs
  • 5 Year Fixed
  • Amortization 25 years for low monthly payments 
  • Interest only option (12 to 36 months)
  • Finance 75% of purchase price
  • Refinance and cash-out 75% of appraised value
  • Experienced borrowers who have owned similar sized properties with last 3 years
  • 660+ credit 
  • Prepay: flexible options
  • Non-recourse
  • Property must be well maintained and 90%+ leased 
  • Net worth combined for all key principals greater than loan amount  
  • Liquidity combined for all key principals greater than 25% of loan amount
  • No bankruptcy or foreclosures in last 3 years
  • DSCR 1.25+
  • PRE-APPROVAL LOI in 48 business hours
  • Loans funded 4 weeks after receipt of your loan docs
  • No upfront Eagle fees. We are paid when your loan is funded at closing

(4) $500,000 to $5 Million private money loans | 650+ Credit | no tax returns  or income verification required… 

  1. Nationwide
  2. $500,000 to $5 Million 
  3. 6.75% to 8.99%+
  4. Amortization 30 years for lower monthly payments
  5. Refinance and cash-out 70% of appraised value
  6. Finance 70% of purchase price
  7. Term: 5 to 10 years
  8. Prepayment: 3/2/1/ or 5/4/3/2/1 
  9. Property 80%+ occupied with current tenants rent
  10. Annual leases paid monthly
  11. Debt Service Coverage Ratio: 1.25X+
  12. Experienced borrower on title with similar multifamily sized property(s) last 3 years 
  13. No bankruptcy, foreclosures, delinquincies or charge offs last 3 years
  14. Full recourse and personal guarantee
  15. Low loan costs
  16. Points: 3+
  17. PRE-APPROVAL LOI in 48 business hours 
  18. Loans funded 4 weeks after receipt of your loan docs
  19. No upfront fees. We are paid when your loan is funded at closing.

(5) Bridge loans: an immediate solution to urgent problems…

  • Fast cash-outs
  • Quickly refinance expiring loans 
  • Rehab to qualify for permanent financing   
  • Stabilize low occupancy property so cash flow qualifies for a permanent loan
  • Partner buyouts
  • Pay off tax liens, judgements to avoid foreclosure

Hard money multifamily bridge loan likey terms:

  • Nationwide 
  • $2 Million to $50 Million
  • 12 to 36 months
  • 7.99% to 10.75%+
  • Interest only
  • Prepayment penalties: none after 6 months interest paid
  • Finance 60% to 70% of purchase price
  • Refinance and cash-out 60 to 70% of appraised value
  • Finance rehab & construction up to 75% LTC to 70% ARV
  • No minimum credit scores
  • Loans close 3 to 6 weeks after receipt of loan docs

Get your free multifamily or healthcare PRE-APPROVAL LOI in 48 Business Hours by clicking the blue Multifamily Loan Link. It takes you less than 6 minutes to click through. No upfront fees, Social Security Numbers, credit checks or credit cards required.

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