Multifamily Bridge Loans
Short-term interest only rehab loan for multifamily, apartment.
- RATES STARTING AT
10.99%
*
Our business purpose program can be used to finance existing small and middle market investment properties and apartments that are stabilized or are in need of renovation with value-add or repositioning strategies.
Key Facts About Our Multifamily Commercial Loan
- Purchase, refinance, refinance cash-out or value-add/rehab
- 12-to-24-months, fixed rate, interest only loans
- Unlimited unit count, min $35,000 per door
- 5+ unit Multifamily
- Class A, B and C grade. Class D (case-by-case)
- Underwritten to Agency takeout
|
|
Multifamily Bridge Loan
|
|---|---|
|
LOAN PURPOSE
|
Multifamily bridge loans for purchase or refi of small and middle-market investment properties (5+ multifamily units) that are stabilized or in need of renovation/value-add.
|
|
LOAN AMOUNT
|
$500K - $5MM
|
|
LOAN TERM
|
12 to 24 months
|
|
BORROWER RECOURSE
|
Recourse and Non-recourse.
Non-recourse option will have standard carve-outs; availability will be determined on a case-by-case basis. |
|
EXPERIENCE
|
Prior multifamily property ownership experience required
|
|
MAXIMUM LEVERAGE
LOAN-TO-COST (LTC) LOAN-TO-VALUE (LTV) COST IS PURCHASE PRICE AMOUNT |
Up to 75% of purchase price and 100% of renovation costs subject to 80% total (LTC) | 70% of stabilized value (LTV)
Cash-out refi 65% |
|
FOREIGN NATIONALS
|
Allowed with established US credit subject to 55% stabilized LTV max
|
|
PROPERTY TYPE
|
5+ unit Multifamily, min $35,000 per door
Acceptable properties are Class A, B and C grade. Class D properties will be considered on a case-by-case basis |
|
MARKETS
|
Primary, secondary and tertiary
|
Loan Purpose | Multifamily (5+ units) bridge loan for purchase/delayed purchase of primary and secondary market residential investment properties that are stabilized or in need of renovation/value-add. |
Loan Term | 18 - 24 months, up to 36 months at lender discretion |
Loan Amount | $2M - $5M, $100K minimum value per unit |
Maximum Loan-to-Purchase-Price (LTPP) | Up to 75% LTPP |
Maximum Loan-To-Value (LTV) | Up to 75% LTV |
Maximum Loan-To-Cost (LTC) | Up to 70% LTC |
Minimum DSCR | 1.25x exit DSCR |
Recourse | Full Recourse |
Minimum FICO | 725 |
Renovation Ratio | Limited to 50% or less of the purchase price |
Occupancy | Minimum 50% of units occupied for properties with unit count ≥ 10 100% residential, no mixed-use or owner-occupied units |
Markets | Available in select Northeast markets |
Channel | This product is currently only available as a retail or director-to-borrower loan. |
Foreign Nationals | Not eligible |
Over $8 Billion in loans for Real Estate Investors
Why Choose a Multifamily Loan?
- Up to 100% financed renovation with a completed project and future rental value analysis
- Provides short-term placement with an outlook for permanent financing at the end of the term of the loan
We have the product to meet your needs.
READY TO SUBMIT A LOAN?
HAVE MORE QUESTIONS?
Complete the form below and a member of our experienced sales team will reach out to you directly to discuss your goals and answer any questions you may have.
Prefer to speak with someone now? Click the button below to start a live chat with one of our reps.
Already have a Facolending account?