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Multifamily Mortgage

Multifamily Refinance

We offer a variety of solutions for multifamily financing including stated income loans and bridge financing for multifamily apartment housing communities.  In addition, we have low fixed & ARM multifamily rates for permanent portfolio financing such as Fannie Mae, Freddie Mac, HUD, FHA agency financing for properties located in average to above-average locations Nationwide.

  • Blanket loans for SFR’s
  • Student housing
  • Senior housing
  • Manufactured housing communities
  • Assisted living facilities
  • A – B – C class considered

    Rates and pricing for multifamily complexes depend on a variety of factors including:

  • Strength of sponsor (Credit/track record/etc)
  • Current DSCR & occupancy
  • Historical income documentation
  • Class of the apartment
  • Type of housing
  • LTV & location

    As you can see, we have a wide range of multifamily financing solutions available. If you have any questions on where you think you or your apartment may qualify, please contact our office for further details. One of our specialist are available today. – 800-838-1889.

Underwritten and approved “in house” our specialist are eager to learn your situation. Stated income multifamily apartment loans are available for 2017 with very competitive rates.

  • No Tax Returns Required
  • No 4506T
  • No W2 Income Necessary
  • Property Based Income Decisions

Money for Purchase, refinance, cash out is possible for quality properties and borrowers. Direct Money Lenders is actively funding stated income multifamily mortgages Nationwide with loan amounts ranging from $100,000 – $2,000,000+

Conduit lending (CMBS) is about like it was in the early 2000’s – There’s a tremendous momentum in the lending environment with aggressive LTV’s and rates hitting 80% for multifamily conduit loans.

Hospitality and Mobile Home Park Conduit loans are also being considered once again. Interest only is available for low LTV – Pricing is extremely aggressive using a 5 or 10 year term.  Both recourse and non-recourse transactions are options. Loan amounts $1,000,000 and up.

$100,000 – $500,000 – Providing capital in the often times, overlooked/ignored micro balance multifamily mortgages. Fixed rate options for those properties that just fall outside of traditional bank guidelines –

No Tax Returns – No 4506 – No W2’s – Flexible underwriting guidelines, performing and slightly under performing multifamily and commercial properties Nationwide.

Learn more about our stated income mirco balance apartment mortgage

$500,000 – $5,000,000 – Attractive multifamily mortgage rates with reasonable underwriting. Highest LTV’s for apartment refinance, purchase, cash out solutions from a reliable capital partner you can trust.

Stated Income – Core product

More well qualified borrowers and properties:

Direct Money Lenders provides intelligent executions from portfolio multifamily lenders, Fannie Mae, HUD, FHA, Life Insurance, & Credit Unions

$5,000,000 & up – Ultra competitive debt and equity structures for serious multifamily apartment properties/investors including high equity leverage bridge, Tax Credits, Construction, Conduit, LIHTC, Bond Credits, & Life Insurance quotes.
» Large Balance Multifamily Loans – A successful submission

$2,000,000 & up – Competitive financing for high quaility MHC’s – 50 minimum pads – prefer high double wide ratio. – We have solutions for parks with larger ratios of single wide in select areas. Fixed rate or ARM – 5 to 30 year terms – 85% LTV.

» Manufactured Housing Communities – Greater understanding

Senior Housing – Stated Income – Assisted Living Mortgages

Rental residential healthcare properties. – Acquisition and refinancing of existing (> 3 yr) established senior housing – Up to 75% of the fair market value – New construction is starting to rise however, underwriting and approvals are sometimes difficult depending on the sponsor and location.

Student Housing Loans – Stated Income Mortgage

Available for medium to large universities Nationwide with emphasis on the underlying demographics of the universities local market. Portfolio, Fannie Mae, FHA, and HUD available with loans ranging from $100,000 to $3,000,000.

There are only a few multifamily refinance options that are mostly available in today’s market and we pride ourselves on being a leader in the industry with best of breed lending products to empower the professional real estate investor.

Understanding which lender to represent your multifamily loan request is HUGE with expecting a successful closing. Direct Money Lenders offers competitive bridge loans for multifamily refinances as well as longer term Fannie Mae, FHA, conduit, or portfolio programs Nationwide.

Stated Income Property Lender

Stated Income Lenders (Commercial Mortgage Backed Security) multifamily lenders that were around several years ago are for the most part gone.
CMBS lenders are greatly dependent on a secondary marketplace that is actively trading these securities. Most of the conduit market took a massive hit during the financial crash of 2008 – 2009.
We are proud to be back entering the market with a best of breed stated income mortgage with realistic and responsible underwriting practices that base the decision on the properties ability to support the loan.
Please visit our commercial loan for stated investor section for additional information regarding this product.

Conventional Multifamily Refinance

Conventional portfolio lenders for multifamily apartment buildings are going through the some re-discovery times as the conduit or intuitions are as well, however, there are some local and national banks that are still able to stay liquid enough to be interested in multifamily refinance loans with acceptable terms. The biggest problem is that most investors or property owners are not able to determine which banks are still lending, liquid and able are actually closing loans. Mortgage rates, terms, and amortizations can change from one lender to the other, mostly depending on the strength of their operational sheet, knowledge of the local market, and willingness to accept new loans applications.

Government Backed Multifamily Lenders – Fannie Mae – FHA – HUD

By far the best program out there today!!! – Fannie Mae multifamily loans that synced with the Uncle Sam backed programs are very much still alive and viable. In fact, this method of financing it is one of the more preferred way of getting qualified apartment deals at the customary terms. Loan to Values approaching 80% to 90% financing on multifamily refinancing and 75% -85% ltv’s on refinance are very much still available. DSCR or (Debt Service Coverage Ratios) can be very aggressive and year fixed rates are 30 or 35 year fixed. FHA and HUD loans are the most competitive multifamily apartment mortgage rates available today.

Government programs have taken heavy criticism historically and more recent times due to the long time to close and high front end expenses for third party expenses and inspections however, if your plan is to keep the property long term, there is quite frankly no better option available. The various agencies have gone through a re-tooling in recent times to improve the system. It is common to get multifamily loans closed in a typical of 60 day time frame, although it is always good to plan for 90 days and more realistic.

The expenses for a FHA 223f or HUD apartment loan can be great. A principal can expect up to a $20,000 up front cost (after detailed Loan Terms sheet is issued) and up to 3% of the loan amount to be paid upon closing.. However, there is simply no other non-recourse, long term, loan out there in today’s lending climate..