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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

Demonstrating a good credit score indicates reliability.

Income

Borrower’s property income and additional income sources are considered.

Collateral

Lenders may require significant collateral, such as personal assets.

Recourse vs. Non-Recourse

Experienced borrowers may qualify for non-recourse loans, which use only the financed property as collateral.

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