Key Facts About Our Multifamily Commercial Loan Program
- Purchase, refinance, refinance cash-out or value-add/rehab
- 12-to-24-months, fixed rate, interest only loans
- Unlimited unit count, min $35,000 per door
- 5+ unit Multifamily
- Class A, B and C grade. Class D (case-by-case)
| Multifamily Bridge Loan | |
|---|---|
| LOAN PURPOSE | Multifamily bridge loans for purchase or refi of small and middle-market investment properties (5+ multifamily units) that are stabilized or in need of renovation/value-add. |
| LOAN AMOUNT | $500K – $5MM |
| LOAN TERM | 12 to 24 months |
| BORROWER RECOURSE | Recourse and Non-recourse. Non-recourse option will have standard carve-outs; availability will be determined on a case-by-case basis. |
| EXPERIENCE | Prior multifamily property ownership experience is required |
| MAXIMUM LEVERAGE LOAN-TO-COST (LTC) LOAN-TO-VALUE (LTV) COST IS PURCHASE PRICE AMOUNT | Up to 75% of purchase price and 100% of renovation costs subject to 80% total (LTC) | 70% of stabilized value (LTV) Cash-out refi 65% |
| FOREIGN NATIONALS | Allowed with established US credit subject to 55% stabilized LTV max |
| PROPERTY TYPE | 5+ unit Multifamily, min $35,000 per doorAcceptable properties are Class A, B and C grade. Class D properties will be considered on a case-by-case basis |
| MARKETS | Primary, secondary and tertiary |
We look forward to working with you and assiting you on your upcoming multifamily commercial loan. Call us today for a free consultation or click here to get pre-approved. We pride ourselves on customer service and will work with you every step of the way.
Thanks,
Michael Meyer
President Spartan Commercial Mortgage Services
mike@spartancommercialmortgage.com
(860) 876-0572