To
apply for a multi-family mortgage ...
Multi-Family - From
five to five hundred units - Garden, Low Rise, or High-Rise apartments -
nationwide these properties are among our specialty mortgage areas. Purchase or
refinancing we can arrange the lowest interest rate combined with the ideal
term and the longest amortization available in the country for your property, Typically
the LTV will be 80% with a 30 year amortization, providing your property
qualifies.
While we expect that you know
the requirements for obtaining a mortgage for any of the above properties, to
enable us to generate a Letter of Interest "LOI" from a preferred lender for
your loan, here is a basic list of documents you will need to submit to
us.
-
* Completed
Loan Request (1003 form for under $5mil., Apartment App. for over $5mil)
-
A minimum of Five
digital photos of the subject property sent to us via email.
-
If a purchase, a
signed legible copy of the purchase contract.
-
*
The year-to-date and past two years income and expenses on the property.
-
*
A Current rent roll with rent terms start and end dates.
-
.Your Resume - If you are purchasing
the property, you will need to provide your resume as all lenders need to
know if you have the experience to own and manage the subject property.
-
Your current
personal financial statement
* We
provide these forms on our
loan forms page.
Once we have received an
acceptable L.O.I. we will ask you to fill out our Brokerage Fee Agreement which
simply states that we are paid at closing and our agreement is non-exclusive.
Our standard fee is one percent of the loan amount.
Plan on a 60 day process, and
remember when the lender submits an L.O.I. to you, they want to make the loan
so be prepared to act quickly and provide the information as soon as you can.
You make the difference in the speed in which the lender can process your
mortgage. . . fast or slow, it's up to you.
Please call us for additional
information or any clarifications.