Commercial Capital - Apartments


	Commercial Loans
	About Us
	FAQs
	Contact Us
	Sitemap

Commercial Loans for Real Estate and Working Capital Loans for Business are available now. Apply Now!

Click below for information pertaining to loans $1,000,000 and up

» Debt Financing
» Equity Financing
» Bridge Loans
» Mezzanine Loans
» Construction Loans
» Property Types
» Capital Sources
» Underwriting
» Capital Structures

Loan Programs under $1,000,000

» Multi-Family/Stated Income
» Multi-Family/Commercial
» Apartment Program

Broker Program

» Information for Brokers

Multifamily Program - Apartments
From $300,000 to $999,999

Program Details

Eligible Properties

Existing apartment properties with 5+ units, mixed-use, and condominium properties. Deferred Maintenance not to exceed 5% of the property’s value.

Loan Terms

Fixed & Variable rate up to 30 years fully amortizing.

Loan Amount

Minimum loan amount of $300,000 to a maximum of $999,999.

Interest Rates

Adjustable and fixed rate options available.

			Prepayment Penalties
			Year
PLAN	RATES	TERM*	1	2	3	4	5	6	7	8	9+
LA1	6.250%	1-year ARM, 25 or 30-year term	3%	2%	---	---	---	---	---	---	---
LA3	6.625%	3-year Fixed, Fully Amortized 25 or 30-year term	4%	2%	---	---	---	---	---	---	---
LA5	6.625%	5-year Fixed, Fully Amortized 25 or 30-year term	5%	4%	3%	2%	---	---	---	---	---
LA7	6.875%	7-year Fixed, Fully Amortized 25 or 30-year term	5%	5%	4%	3%	2%	1%	---	---	---
LA10	7.250%	10-year Fixed, Fully Amortized 25 or 30-year term	5%	5%	4%	4%	3%	2%	1%	1%	---

FX3	6.875%	3-year Fixed, Fully Amortized 25 or 30-year term	4%	2%	---	---	---	---	---	---	---
FX5	6.875%	5-year Fixed, Fully Amortized 25 or 30-year term	5%	4%	3%	2%	---	---	---	---	---
FX7	7.125%	7-year Fixed, Fully Amortized 25 or 30-year term	5%	5%	4%	3%	2%	1%	---	---	---
FX10	7.500%	10-year Fixed, Fully Amortized 25 or 30-year term	5%	5%	4%	4%	3%	2%	1%	1%	---
F15	7.375%	15-year Fixed, 15-year Full Amortization	5%	5%	4%	4%	3%	2%	1%	1%	---

MIXED-USE loans are available on a case-by-case basis. Rate, term and fee adjustments will be made. -Thirty-year loan terms are available on newer properties.

One Year ARM - Plan LA1: After 12 months fixed rate, loan will adjust every 12-months to 2.5% over the 12-month LIBOR index. Maximum initial and subsequent adjustment caps are 2%. Lifetime cap is initial interest rate plus 6%. Floor rate is initial interest rate minus 0.50%.

ARM Plans (LA3, LA5, LA7, LA10): After fixed rate term expires, loan will adjust every 12-months to 2.5% over the 12-month LIBOR index. Maximum initial adjustment cap is 5%. Subsequent adjustment caps are 2%. Lifetime cap is initial interest rate plus 6%. Floor rate is initial interest rate minus 0.50%.

FLEX Plans (FX3, FX5, FX7, FX10): After initial fixed rate term expires, rate options will be offered at our prevailing market rates for 1-Year, 3-Year, 5-Year, 7-Year & 10-Year programs; no adjustment caps. If 3, 5, 7 or 10 Year rollover option is selected the prepayment penalty is reinstated.

Minimum DSCR

Minimum Debt Service Coverage Ratio = 1.20 based on net income available for debt service.

Loan-to-value

Up to 80% LTV.

Escrows

Required for taxes and insurance. Vacancies may be escrowed if excessive. NO replacement reserves required.

Recourse

Full recourse, limited recourse, and non-recourse available depending on Loan-to-Value.

Prepayment

Declining prepayment penalty. Please see our Schedule of Rates for specifics.

Timing

Approximately 45-60 Days.

Estimated Closing Costs

Closing costs, including third party fees, are the responsibility of the borrower.

Costs for registration of the loan will be paid prior to closing. Appraisal and Inspection fees will be paid out of the registration fee.

Registration Fee:	5-69 units - $2,500 to $7,250 depending upon size and location of property.
Document Preparation	$1020
Processing Fee	$750
Origination Fees	1.0%
Title/Recording/Etc.	Set by title company
Termite Inspection	$110 per building (not required in all states)

The borrower is responsible for any additional closing costs including, but not limited to, a survey, wood destroying insect inspection, title policy, escrow and recording fees, & flood certificate(s). An environmental site assessment and/or engineering evaluation may be required on any property where a potential condition has been identified.

All information presented on this page is subject to change without notice.