Multi-family funding- can you afford not to look at the alternatives?
Small Balance Loan program
Acquisition or refinance
Current Rates - 3.6% to 5.0% - up to 10 years fixed and up to 30 year amortization
- $1MM to $5MM in total credit needs – the property could be worth much more, however, we are restricted to a loan amount of $5MM
- No restrictions on number of loans per borrower
- 90% plus occupied for past 90 days
- No more than 50% student housing
- Maximum Loan to Value - In larger markets up to 80% , in smaller markets 70% to 75%.
- Cash out is available, owner can take cash out of the transaction if there is sufficient equity and a desire to do so.