Multifamily Loan Programs
Multifamily loans represent a powerful resource for investors seeking to finance various facets of their multifamily property ventures. These loans can be utilized for a range of purposes, from purchasing a new property, refinancing an existing property, rehabilitating a newly purchased or an existing property, or building a new property. A multifamily property is literally any residential property with 5 or more units. As an independent mortgage broker, Kram Capital Group is experienced in facilitating loans and structuring loans based on the borrower situation. Let’s delve into the details of multifamily loans.
Multifamily Loans: Types and Their Unique Advantages
Acquisition Loans (Agency & Nonagency):
Advantages: Ideal for property purchase, flexible financing options.
Minimum Loan Amount: $1,000,000
Refinancing Loans (Agency & Nonagency):
Advantages: Opportunity to secure better rates, flexibility.
Minimum Loan Amount: $1,000,000
Bridge Loans (Agency & Nonagency):
Advantages: Short-term financing to bridge gaps, rapid acquisition support.
Minimum Loan Amount: $1,000,000
CMBS Loans (Conduit Loans):
Advantages: Pooled financing with less stringent credit scrutiny.
Minimum Loan Amount: $2,000,000
Rehabilitation Loans (Agency & Nonagency):
Advantages: Capital for property upgrades, potential longer terms.
Minimum Loan Amount: $1,000,000
Construction Loans (Agency & Nonagency):
Advantages: Funding for construction, with variable terms.
Minimum Loan Amount: $2,000,000
Borrower Qualification: Key Criteria
Most multifamily loan programs have specific borrower requirements, including:
Credit History
Income
Collateral
