Long-term Financing for Multifamily Properties
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.
Multifamily is generally defined as properties with 5+ residential units. Property types include apartment buildings, apartment complexes, nursing homes, assisted living facilities, rehab centers and others.
Our focus is on multifamily loans from $500,000 and up. On the smaller side, we have access to private commercial mortgage lenders. For loans over $750,000, we can access Freddie Mac, Fannie Mae and FHA loan programs. In either case, you can expect 20+ year loans with 20-35 year amortization schedules. Fixed, floating and hybrid rate options are available.
Non-Health Care Multifamily Loan Features:
- Loans from $500,000 and up (no max)
- Available for acquisition or refinancing (including cash out)
- Nationwide lending
- Fannie Mae, Freddie Mac and FHA non-recourse programs
- Private mortgages available based on property value and borrower credit
- Adjustable rate and fixed rates, rate locks available
- Debt service coverages ratios from 1.2-1.4x in most markets
- Up to 80% LTV
- 20-30 year maturities and amortizations
- Declining prepayment terms, including yield maintenance options
- 90% occupancy generally required for 3 months prior to loan closing
- Bridge to permanent loans available for properties requiring rehab
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)
- 80-85% LTV
- Debt service coverages ratio of 1.45x
You need a strategic, cost effective solution to your financing needs and a funding partner you can trust. Let us put our decades of banking and structuring experience to work for you – contact Speritas Capital Partners about multifamily property financing today.