MortgageDepot has been the top choice when it comes to financing on apartment buildings. We have one of the best-priced programs for 2-4 unit multi family and apartment buildings loans. Contact us for pricing and guidelines at (800) 220-LOAN.
RATES AND TERMS:
- Five years fixed 5.50% with 30 yr am
- Ten years fixed 6.50% with 30 yr am
- Step down pre-payment penalty
- Term Sheet to closing is 45 days
GUIDELINES:
- 75% LTV
- Minimum DSCR of 1.20x
- 5+ residential rental units at a time
- Properties don’t have to be contiguous
- At least 90% must be leased
- 680+ mid credit score
ELIGIBLE PROPERTIES WITH 5+ Units:
- Single Family Residences
- Multi-Family Properties
- Condos
- Townhomes
- 2-4 Unit Properties
- Mixed Use Residential/Commercial where the residential is at least 60% of the floor space
- Minimum Eligible Value of $50K per Unit
- No Modular or Manufactured Housing
We are very aggressive in the commercial lending platform, give us a call to discuss your project at (800) 220-LOAN.
*This product is not regulated by the New York State Department of Financial Services
Have questions or need help?
Call us now at 800-220-LOAN
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