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Commercial  Division

Up to $200,000,000

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Apartment Loans and Multi Family ( 5+ Units)  Lenders Financing

Apartment loans and lenders for multi-family property.

Our apartment loans and multifamily financing lenders offer excellent opportunity to analyze cost savings on commercial programs from $100,000 to $100 million and up.

These programs are part of a very competitive sector of the commercial mortgage lending market. Lenders want your business and are willing to compete on multi family units and apartment loans for financing. Maximum Financial Inc. creates a competitive environment by shopping your request for financing multifamily unit apartment loans to a wide variety of  competitive lenders. You will know the benefit of our unequaled efficiency and service with a great program and with low fees.

Apartment loans and financing lenders mortgages are available for multi-family properties 5 units and above. Maximum Financial Inc. provides competitive programs for commercial real estate ranging from $100,000 to $50 million.

Our goal is to be your primary source for the most appropriate lenders and beneficial apartment loans and financing solutions that gets you to your goals

Maximum Financial Inc. provides customized solutions for commercial investors across the nation. If you need to refinance an existing property or you need purchase money - we can help structure the terms that meets your needs.

Typical Terms Offered By Typical Lenders. ( If your need is not typical, that's where we excel. )

Note: These terms are not of any one specific lender. They represent typical terms that we normally see in the market and are not to be relied upon as a commitment to provide specific terms for specific transactions.

Maximum LTV:

Programs provide financing usually at 80% of value or cost (whichever is lower).
For amounts under $2M, there are a few lenders that will go to 85% or 90% or will allow secondary financing for a combined LTV of 85% to 90%.

Please Note: Most programs allow for the seller to carry back a 2nd mortgage behind a new first mortgage with as little as 10% (less sometimes) down.
 

Debt Service Coverage:  The cash flow from operations must be at least 1.00 to 1.20 times the mortgage payment.

Term: 3, 5, 7, 10, 15, 20 ,25 and 30 year terms are most common. Interest only and balloon notes are available.

Rates on Average:

  • 10 year fixed = 10 yr US Treasury bill rate + 1.0% to 1.5%
  • 15 and 20 year fixed = 10 yr Treasury + 1.5% to 2.0%>
  • 5 year fixed = 5 yr Treasury + 1.0% to 2.0%
  • ARM = LIBOR + 1.5% to 2.0%
  • Call for many more terms available.

Prepayment Penalties:

  • 10, 15, 20 year fixed rates - typically have prepayment based on "yield maintenance" or "defeasance".
  • 3 and 5 yr fixed rate - typically have a decreasing prepayment each year (e.g. 5%, 4%, 3%, 2%, 1%).
  • Adjustable rate mortgages- typically have a declining and smaller prepay penalty (e.g. 3%, 2%, 1%).

Recourse: Commercial programs  may or may not require recourse (personally guarantee). Case by case.

Closing Costs:

Borrowers are responsible for all due diligence and closings costs (e.g. Appraisal, Phase 1 Environmental, site inspection, title, etc)

It is important to note that for most commercial businesses, start-up or first time business owners can be difficult to arrange funding for. Apartment multi-family mortgage loans for financing is different because there is no specific industry like a bakery or retail store that requires specialized knowledge. The risk factor involved is lower for the lender due to simplicity of management of the property. This does not mean that the money is easily available to you. Good credit is still necessary. It just means you have to have the right mortgage broker with the right lender sources. He or she will have to work hard for you to find an acceptable lending source that makes sense for your purposes. We intend to package and process your funding request in a professional manner that will make the lending source want to say yes to the application request the first time. Simply submit our online prequalification form and we will reply usually within twenty four hours to discuss the opportunities available to you. We look forward to helping you solve your funding needs for all your commercial real estate projects.

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