Long-term Financing for Multifamily Properties

Multifamily loans and financing for properties with 5+ units

Looking for long-term financing for a multifamily property? Whether you are an established property owner or new to the multifamily investment world, Speritas Capital partners can help you access a wide range of options including cash out refinancing.

Multifamily is generally defined as properties with 5+ residential units. Property types include apartment buildings, apartment complexes, some mixed use, nursing homes, assisted living facilities and others.

Our focus is on multifamily loans from $500,000 and up to $50 million. On the smaller side, we have access to private commercial mortgage lenders. For loans over $1 million, we can arrange Freddie Mac, Fannie Mae and FHA loan programs. Commercial mortgage-backed securities are also an option for multifamily financing.

In most cases, you can expect 20-30 year loans with 20-40 year amortization schedules. Fixed, floating and hybrid rate options are available. Some agency programs go up to 80% LTV in major markets.

Taking cash out is just one reason to refinance. You may also want to do a rate or term refinancing, with or without taking cash out. Current rates and maturities could be better than your current refinancing. Extending your maturity at a lower rate could lead to substantially lower monthly debt payments.

Many lenders do not place any restrictions on the cash you take out. You could invest the money, use it to address deferred maintenance, buy another property or cover property, personal or business expenses.

Multifamily Health Care Property Loans:

  • HUD/FHA financing (Section 232) available for construction, rehab, acquisition and refinancing
  • Multiple use loans – refinancing coupled with new construction
  • Section 232 provides mortgage insurance to lenders for residential care facilities including nursing homes, assisted living facilities, and skilled nursing facilities.
  • Fixed rate
  • Up to 35 year maturities (max is 75% of remaining economic life)
  • Non-recourse
  • 80-85% LTV
  • Debt service coverages ratio of 1.45x

Contact Us

You need a strategic, cost effective solution to your financing needs and a funding partner you can trust. And one who never takes upfront fees. Let us put our decades of banking and structuring experience to work for you – contact Speritas Capital Partners about multifamily property financing today.