Commercial Multifamily Mortgage Programs
As a Commercial Mortgage Multifamily Mortgage Lender and Broker FBC Funding offers a variety of Multifamily property and Mixed Use property loan programs. We not only offer Hard Money and Bridge loans, we also offer Agency, CMBS, Bank, Alternative, Soft Money and Private Money Small Balance Commercial Mortgages loans including ground up construction programs. When we discuss Commercial Multifamily Mortgage Programs we are specifically referring to residential multifamily properties with five or more units. If you are looking for financing on a multifamily property of two to four units that would be covered under our residential program. The down payment, rates and closing costs are lower for a residential two to four unit multifamily property than they are for a commercial multifamily property with five or more units. Ultimately, whether residential or commercial multifamily mortgage programs, we have many options for apartment loans.
Agency Commercial Multifamily Mortgage Programs
Agency Multifamily Commercial Mortgage Programs are for residential multifamily and residential mixed use properties, where the minimum loan is $1,000,000 the loan to value is between 70% and 85% plus the rates are usually the lowest rates in the market. These full document loans are almost always lower costs and lower rates than Bank programs and are non recourse. If you currently are financed through your local bank and want better terms consider our Agency financing program. The Agency Multifamily Commercial Mortgage Programs are conventional financing for apartment buildings and mixed use properties that are primarily residential.
Bank Commercial Multifamily Mortgage Programs
The Bank loan programs are for commercial real estate Multifamily and mixed use properties. Most bank programs have a minimum loan amount of $250,000 for Residential Multifamily and Mixed Use properties. Loan to values range from 65% to 80% depending on location, loan purpose, cash flow, credit and experience. Rates are good and compete favorably even with local bank programs. Our Nationwide Multifamily Commercial Mortgage Programs offer opportunities where local banks may have limited funds or stricter guidelines or do not lend at all. FBC Funding specializes in commercial residential multifamily and mixed use property types. CMBS Commercial Multifamily Mortgage Programs have similar guidelines to bank and agency programs except they generally require a minimum loan amount of $500,000.
Alternative Commercial Multifamily Mortgage Programs
Alternative multifamily, mixed use and commercial mortgage loan programs are provided through portfolio small balance funds that create their own guidelines that are more liberal than Banks and Agency financing. They offer stated income, bank statementand full document programs for borrowers with good properties and good credit. There are many good real estate investors and cash flowing properties that do not meet agency and bank guidelines that are better risk than hard money and bridge loans. The loan to values range for this program is 65% to 80% depending on property type. The best rates and highest loan to value options are for multifamily and mixed use properties. Rates are typically 1 to 3 points higher than Bank and Agency Programs. These funding options are a good alternative to Hard Money, Private Money and Bridge Loans. These are also include Soft Money Commercial Multifamily Mortgage Programs. Alternative funding programs start at $100,000 and go to $5,000,000. Th
Commercial Multifamily Mortgage Programs: Hard Money – Bridge – Private Money
These loan programs are the same category of financing. These are all short term, asset based real estate funding programs. Usually credit is less of an issue, the focus is on the property. Often used to rehab, lease up and / or stabilize property until the borrower can refinance the property into lower rate permanent financing. Most often used by investors who improve the value and then sell or refinace the properties or who just need quick close with less documentation. When we refer to Hard Money loans are short term loans where there could be an element of renovation for value add to the properties. Whereas bridge loans are generally short term loans without renovation. Often the properties do not have stabilized cash flow to qualify bank or agency financing.
Commercial Multifamily Fix and Flip Mortgage Funding
For purchases or refinances, we can fund Multifamily and Mixed Use fix and flip projects. These are short term loans to rehab multifamily or mixed use properties and the refinance or sell them. Non cash flowing and vacant properties are acceptable. No minimum debt service coverage ratio. Low minimum credit score options available in our Multifamily Commercial Mortgage Programs for Fix and Flip Real Estate Investors. The terms are based on Experience, LTV, percent of occupancy, and cash flow and credit.
Commercial Multifamily Mortgage Programs: Ground up Construction
We fund ground up construction financing of Multifamily properties where we can offer up to 100% of the vertical construction costs. For these Ground Up Construction Multifamily and Mixed Use Funding Programs there are many options primarily depending on the property type and the borrowers experience. Experience is very important for these programs.
Call FBC FUNDING today at 888-848-3114 or email info@fbcfunding.com
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