Loans for Multifamily Commercial Properties – Long-term Financing
Looking for long-term financing for a multifamily commercial 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 at Speritas Capital Partners is on multifamily loans from $2 million and up to $75 million.
For certain types of multifamily properties we can arrange Freddie Mac, Fannie Mae and FHA loan programs.
Commercial mortgage-backed securities (CMBS) are also an option for multifamily financing.
Multifamily Lenders & Agencies
Multifamily lenders use underwriting criteria specific to 5+ unit properties. These criteria focus on appraised value, rental cash flow and occupancy. Typically, 5+ commercial mortgages are available through specialty lenders.
Several federal agencies offer loan guarantee programs designed to support multifamily property investments and development.
Eligible properties range from small multifamily apartments (Freddie Mac, Fannie Mae, FHA) to large nursing home facilities (HUD).
The specialty lenders can structure loans that meet federal agency requirements, which leads to low interest rates and relatively long maturities and amortization schedules.
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.
Questions? Call or text 203-247-4358
Refinancing a Multifamily Property with long-term debt
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.
Recently Funded Multifamily Deals by Speritas Capital
Check out more of our recently funded deals.
Long-term Multifamily Commercial Property loans arranged by Speritas Capital typically feature:
Loan sizes from $500,000 and up
Used for acquisition, refinancing and cash out
Freddie Mac, Fannie Mae, FHA and CMBS 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 1.1-1.4x, market dependent
Up to 80% LTV
10-30 year maturities and 25-30 year amortizations
Multiple prepayment options
Bridge to permanent loans available for properties requiring rehab
How Does Speritas Capital Help?
Because Speritas Capital is a debt advisory firm, we have access to a wide variety of Commercial Real Estate lending structures. We’re not beholden to any one lender or structure so we can use our creativity and experience to design a structure that truly fits the needs of our clients.
You may be in research mode and unsure about the best financing options for your multifamily project. We can help you think through your options and package the required information (property, cash flow, credit, project costs) in a way that optimizes your chances of approval.
Questions for Us?
You need a strategic, cost effective solution to your financing needs and a financing advisor you can trust. And one who never takes upfront fees. Let us put our decades of banking and structuring experience to work for you – email Speritas Capital Partners with your questions about Multifamily Commercial Real Estate Financing today.
Call or text Jeff Bardos, CEO
directly at 203-247-4358
or schedule a call with Jeff
