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Large Balance – 3M – 30M+

  • Home / Large Balance – 3M – 30M+

Multifamily Apartment Mortgage Lender - Small Balance

Low, fixed mortgage rates & permanent long-term financing for apartment buildings. We also offer direct “in house” underwriting approvals for shorter-term, bridge financing solutions. –Hard money loans for apartment buildings and manufactured housing communities located in average to above-average locations on a nationwide basis.

Direct Money Lenders’ small balance multifamily mortgage ranging from $500,000 – $3,000,0000. Our firm offers many advantages over your local bank. First, we are a lender. Second, we will not string you along for weeks without a decision. Third, we have about a dozen of the top national small balance apartment capital sources available today. (There are not many remaining). Direct Money Lenders does not charge any upfront fees prior to Loan Terms. Our turnaround time and expertise can’t be beat. Most bankable or “A” deals are jointly underwritten with one of the capital partners we understand would like your situation. – Purchase – Refinance – Cash out options available.

In today’s economic climate, many regional/national banks and other conduit lenders have severely limited their lending activities or stopped lending altogether. Direct Money Lenders is actively providing small balance multifamily apartment loans, nationwide. We have established excellent, long-term relationships with reliable lending institutions, and our reputation is untarnished within the lending community. A lot of time is spent maintaining these bank relationships in order to provide you the most current market conditions, information, and programs.

Direct Money Lenders’ experts will give you a quick and HONEST answer.

Call us today – 800-838-1889 – Virtually all Commercial Property Types Considered!

CRE-7-403x218

Small Balance Apartment Mortgage General Guidelines:

Eligible
Properties
Average to above-average multifamily, mobile home park and manufactured housing properties
Minimum Loan Size $500,000 – $3,000,000+
Pricing Tiered pricing based on LTV and DSCR
We can work with many document types and FICO scores
Loan Terms 1 – 30 year fixed terms with 20 – 25 – 30 year amortization – Interest only payments
Prepayment None – Defeasance – Yield Maintenance – Declining
Personal Guarantees Recourse or Non-recourse with standard carve outs
Minimum DSC 1.25 – 1.35
New Equity (cash) Requirements
Typically no new cash for Refinance or cash out – Purchase minimum – 10% – 20% of total projected cost
Loan-to-Value 1.25 – 1.35
Occupancy Requirements Stabilized or not stabilized properties considered – 12 month trailing cash flow should support minimum DSCR requirements for max LTV.
Third Party Reports Appraisal
Phase I environmental or insurance
Property inspection
ALTA land survey
Preliminary Submission Package For Multifamily Financing: Include the following in your request for a Apartment 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 preferred)
4. Personal and business tax returns – (2 – 3 years preferred)
5. Current rent rolls
6. Sources & uses
7. Sponsor’s resume