7 Construction Apartment Loan Programs – over 100 Direct Sources
With 7 Construction programs to pick from, and over 100 direct financing sources, Apartment Loan will match you because of the Multifamily construction loan system that is correct for your needs.
Apartment Loan Store has specialized in commercial construction financing since 1997. We do construction loans for: Apartment Buildings, Senior Housing/55 and older Communities, Student Housing, and Independent/Assisted residing Senior Housing.
Do you really Be Eligible For A commercial construction loan?
Apartment/Multifamily Construction Loan Programs (5 + Devices)
1. FHA New Construction or Major Rehabilitation – 85% – 87% of price, Non-Recourse Construction and Perm Loan
Minimal Loan: $5,000,000 Maximum Loan $25M and above
85% of Cost for Market Rate Developments, 87% of Cost for Affordable Housing
Construction Loan rolls over seamlessly to 40 fixed rate perm loan year
Perm Loan Term: 40 Years, Amortization 40 years
Extremely Low 40 12 months fixed price
18 months after completion for absorbtion/stabilization
Perm loan rate is locked ahead of construction
Non-Recourse construction and perm loan
No Taxation Statements Required
FF&E might be financed
Draws (average bi-monthly)
No minimum Web Worth Requirement
Minimal Post Closing Cash Requirement
Good Credit Required
2. Personal Institutional Construction Loan – Tall LTC. Seamless Roll Up To Perm
Minimal Loan $4,000,000, Maximum Loan $50,000,000
1 thirty days Libor plus 4.00per cent to 5.00per cent (interest just)
Subordinate Mezzanine financial obligation may be permitted up to 90% CLTC