5+ Unit Mixed Use Program
Get Money To Rehab Small & Large Apartment Buildings
We have funded over 5,000 fix and flip rehab loans in the last 7 years and want to fund your next deal.
Rehab & Stabilized 5+ Unit Apartment Loans
If you are a real estate investor looking for Apartment Loans look no further. We have funded over 5,000 loans in the last 7 years and want to fund your next deal. With our commonsense underwriting and quick closings, you will never look for another lender again after closing your 1st deal with us!
5+ Unit Apartment Building Rehabs
- 5+ unit apartment building rehab/fix and flip
- Loan amounts from 250k and up
- 80% Purchase 80% repairs 70% ARV Max loan
- 660+ credit required
- Must be able to show recent (last 24 months) rehab experience
- Rates from 8.5-9.5%
- Points 2.25
- 2 year loan term
- Option to extend for 2 years (1 point per year to extend)
- Debt Service (pro-forma) 1.20 or better
- No pre payment penalty
- Interest on construction funds only when drawn
- No rural properties
- Add 1/2 point to rate + points for non-recourse
- Upon signed term sheet deposit for appraisal, budget inspection, Phase 1 required
- Closing time 20-25 days
5+ Unit Apartment Building Stabilized
- 5+ Unit Stabilized Apartment Building
- Purchase/Refinance/Cash out
- Loan amounts from 250k and up
- 75% Purchases, 70% Refinances w/cash out (paying off a mortgage), 55% Cash out on free and clear properties
- 660+ credit required
- Must be able to show recent landlord experience
- Rates from 7.5-8.5%
- Points 2.25
- 2 year loan term
- Option to extend for 2 years (1 point per year to extend)
- Debt Service (actual) 1.20 or better
- 6 month pre payment penalty
- No rural properties
- Add 1/2 point to rate + points for non-recourse
- Upon signed term sheet deposit for appraisal, budget inspection, Phase 1 required
- Closing time 20-25 days
We Also Lend On Mixed Use Properties!
- Mixed Use Properties (Residential/Commercial mix)
- Must be 4-5 residential units w/commercial space
- Sq footage requirements – 70% residential /30% Commercial
- Rehab and Stabilized OK – Same guidelines as the 5+ Unit Program
