Leading real estate loan lender for small balance multifamily investment properties, offering extensive debt solutions through a vertically-integrated, national lending platform.
Our real estate investment loan products are flexible to meet the needs of different rental property investors allowing you to access long-term financing at a fixed rate.
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Loan Types: Interest only, fixed and adjustable rate mortgage options
Max LTC for Purchase 80% of purchase value + 100% of rehab
Max LTC for Refinance 75% of as-is value + 100% of rehab
Maximum Loan to Stabilized Value 75%
Term Length Up to 24 months + two 6-month extensions
Recourse Loans<=$2mm: full recourse Loans > $2MM: Full Recourse or Limited Recourse with bad-boy carveouts Completion Guaranty/Reserve Replenishment Guaranty when applicable
Loan Types: 30-yr Fixed Rate Mortgage, OR 5/6, 7/6, 10/6 Hybrid ARMs (Partial IO or Fully Amortizing)
Term Length 30 Years
Max LTC If Owned <3 months, 80% of Total Cost Basis If Owned between 3 and 6 months, additional 5% haircut on Max Eligible LTV
Max LTV Purchase/Rate-Term Refinance: 75% Cashout Refinance: 75%
Minimum Debt Service: 1.20x - 1.40x, based on subject market classification (Top, Standard, Small, Very Small)
Recourse Full recourse or non recourse with bad-boy carveouts and pledge of equity
Minimum Guarantor FICO Mid-Score of 680
Lease Requirements Minimum Occupancy Rate of 90% by Unit Count Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent Unleased Units: 90% of Market Rent (Purchase Loans only)
