Multifamily
Bridge Loan
- STARTING RATE
10.99%
*
Key Facts About Our Multifamily Bridge Loan
- Purchase, refinance, refinance cash-out or value-add/rehab
- 12-to-24-months, fixed rate, interest only loans
- Unlimited unit count, min $35,000 per door
- 5+ unit Multifamily
- Class A, B and C grade. Class D (case-by-case)
- Underwritten to Agency takeout
Loan Purpose | Multifamily (5+ units) bridge loan for purchase/delayed purchase of primary and secondary market residential investment properties that are stabilized or in need of renovation/value-add. |
Loan Term | 18 - 24 months, up to 36 months at lender discretion |
Loan Amount | $2M - $5M, $100K minimum value per unit |
Maximum Loan-to-Purchase-Price (LTPP) | Up to 75% LTPP |
Maximum Loan-To-Value (LTV) | Up to 75% LTV |
Maximum Loan-To-Cost (LTC) | Up to 70% LTC |
Minimum DSCR | 1.25x exit DSCR |
Recourse | Full Recourse |
Minimum FICO | 725 |
Renovation Ratio | Limited to 50% or less of the purchase price |
Occupancy | Minimum 50% of units occupied for properties with unit count ≥ 10 100% residential, no mixed-use or owner-occupied units |
Markets | Available in select Northeast markets |
Channel | This product is currently only available as a retail or direct-to-borrower loan. |
Foreign Nationals | Not eligible |
Over $8 Billion in loans for Real Estate Investors
The Multifamily Loan Program is perfect for small balance residential properties with more than 5 units. The minimum loan amount is $500,000. With competitive rates, it’s perfect for rehabbing a multifamily property.
Why Choose a Multifamily Loan?
- Up to 100% financed renovation with a completed project and future rental value analysis
Provides short-term placement with an outlook for permanent financing at the end of the term of the loan