Multifamily Conduit - Apartment Lending Solutions
The conduit market is similar to what is was in the early 2000’s today. Reasonable underwriting practices are the norm. Rental income is computed by using market rents. Interest only is possible for low leveraged (LTV) opportunities.
Direct Money Lenders is well established within the lending community. We have relationships with companies that have direct access to the Wall Street trading desks that offer the lowest conduit multifamily mortgage loan offerings. Our experience equals your lending partners! You will gain confidence once you speak with one of our professional loan officers.
The target market for our multifamily conduit product is from $1,000,000+
Conduit lending (CMBS) is only for “A” and “B” type properties located in top 250 metro MSA’s –
Conduit Loan for Multifamily Apartment Advantages
Advantages of a conduit loan can be greatly benificial. Some reasons to consider a conduit loan: All are non-recourse with interest only options for low LTV’s – High CLTV with mezzanine piece available to 90% – 5 – 20 year terms with 25 and 30 year amortizations. Conduit loans provide the low permanent fixed rate multifamily apartment financing. Conduit multifamily loans are available in today’s credit market but like HUD – FHA loans, are expensive to enter.
Call us today – 800-838-1889 – Quality Conduit Property Types Considered – Commercial and Multifamily!
Apartment Conduit Loans General Guidelines
multifamily apartment and mobile home parks and manufactured
housing properties with a minimum of 10 pads or sites.
|Minimum Loan Size||$2,000,000+|
|Pricing||Tiered pricing based on LTV and DSCR|
|Loan Terms||5 – 20 Fixed terms with
25 – 30 year amortization
|Prepayment||Defeasance – Yield Maintenance|
|Personal Guarantees||Non-recourse with standard
carve outs for grantor fraud or other bad behaviors
|Minimum DSC||1.25 – 1.45|
|Occupancy Requirements||Stabilized properties only|
|Third Party Reports||CALL|
Package For Conduit Loans:
|Include the following in
your request for a Conduit Mortgage quote:
1. Property description, address, & current debt structure
– Well written summary
2. Representative color photographs – (6 – 7 preferred)
3. Operating statements – YTD & prior – (2 – 3 years
4. Current rent rolls & leases
5. Sponsor’s resume