Apartments Multi Family

Apartments and Multi Family Financing

Maximum Financial Inc. Commercial Real Estate Financing Since 1998

Our financing options for multifamily properties present a compelling chance to assess cost reductions on commercial programs ranging from $100,000 to $100 million and beyond. These programs are situated in a highly competitive sector within the commercial mortgage lending industry, where lenders actively vie for your business, engaging in intense competition to fund multifamily units and apartment loans. Maximum Financial Inc. actively cultivates this competitive environment by seeking out competitive lenders to meet your multifamily unit apartment loan financing needs. With our unmatched efficiency and service, you will benefit from our outstanding program and take advantage of low fees.

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We provide apartment loans and mortgages designed for multifamily properties with five units or more. Our comprehensive suite of competitive programs for commercial real estate starts at $100,000 and goes up to $50 million.

Our primary objective is to serve as your primary resource in identifying suitable lenders and delivering beneficial apartment loans and multifamily property financing solutions that empower you to reach your objectives. Maximum Financial Inc. excels in crafting customized solutions for commercial investors across the nation. Whether you’re seeking refinancing for an existing property or financing for a new acquisition, we can help design terms that align perfectly with your unique requirements.

Typical Terms Offered By Typical Lenders.
( If your need is not typical, that's where we excel. )

Note: These terms are not of any one specific lender. They represent typical terms that we normally see in the market and are not to be relied upon as a commitment to provide specific terms for specific transactions.

Maximum LTV:

Programs provide financing usually at 80% of value or cost (whichever is lower).
For amounts under $2M, there are a few lenders that will go to 85% or 90% or will allow secondary financing for a combined LTV of 85% to 90%.

Please Note: Most programs allow for the seller to carry back a 2nd mortgage behind a new first mortgage with as little as 10% (less sometimes) down.

Debt Service Coverage:

The cash flow from operations must be at least 1.00 to 1.20 times the mortgage payment.

Term:

3, 5, 7, 10, 15, 20 ,25 and 30 year terms are most common. Interest only and balloon notes are available.

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commercial hard money lenders

Rates on Average:

  • 10 year fixed = 10 yr US Treasury bill rate + 1.0% to 1.5%
  • 15 and 20 year fixed = 10 yr Treasury + 1.5% to 2.0%>
  • 5 year fixed = 5 yr Treasury + 1.0% to 2.0%
  • ARM = LIBOR + 1.5% to 2.0%
  • Call for many more terms available.

Prepayment Penalties:

  • 10, 15, 20 year fixed rates – typically have prepayment based on “yield maintenance” or “defeasance”.
  • 3 and 5 yr fixed rate – typically have a decreasing prepayment each year (e.g. 5%, 4%, 3%, 2%, 1%).
  • Adjustable rate mortgages- typically have a declining and smaller prepay penalty (e.g. 3%, 2%, 1%).

Recourse:

Commercial programs may or may not require recourse (personally guarantee). Case by case.

Closing Costs:

Borrowers are responsible for all due diligence and closings costs (e.g. Appraisal, Phase 1 Environmental, site inspection, title, etc)

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It’s important to understand that securing funding can be challenging for start-up businesses or first-time owners in most commercial sectors. However, when it comes to financing loans for apartment multi-family properties in the commercial real estate market, the process differs. Unlike specialized industries like bakeries or retail stores, the simplicity of managing such properties reduces the risk for lenders. However, this doesn’t imply that obtaining the funds is easy. A good credit history is still essential, and it requires the expertise of a knowledgeable mortgage broker with access to the right lenders. They will work diligently to identify a suitable lending source that aligns with your objectives. Our aim is to professionally package and process your funding request, making it compelling for lenders to approve it on the first attempt. Simply complete our online prequalification form, and within approximately twenty-four hours, we will reach out to discuss the opportunities available to you. We eagerly anticipate assisting you in fulfilling your funding requirements for all your commercial real estate endeavors.

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