Multifamily Renovation Loan

The Multifamily Renovation Loan provides for minor or major renovations, upgrades and value add purchases. Prior borrower experience in similar projects is required. A great product for providing renovations and the time needed to lease-up for stabilized rent rolls. Loan amounts from $250,000 covers the smallest of projects and extends to beyond $10 million. Investors or Developers demonstrating a successful track record of multifamily development in all types of communities are encouraged to apply.

 

 

Key Points

$250,000 Minimum Loan Amount

For Rehab and Value Add

No Occupancy Requirements

No DSCR Requirements

Experience Required

 

 

Terms

$250,000 - $10 million+

LTC: up to 80% purchase money

LTC: up to 100% rehab cost

ARV: up to 70%

Interest: from 9.00%

Rate: Fixed

Term: Up to 24 months

Amort: Interest Only

No DSCR

No Pre-Payment Penalty

 

 

Purpose

Acquisition and Renovation

Refinance and Renovation

 

 

Property Types

Multifamily (5+ Units)