Looking for apartment loans with higher loan to values and lower interest rates has become a struggle for many multifamily residential operators with smaller properties of lower loan balances. However, recent programs provide for LTV ratios as high as 80% with rates below 4% in many cases.
Apartment loans for multifamily residential developments purchases or refinances, even for cash out refinances, now have excellent rates for loan amounts from $1 million up to $5 million. This covers a lot of properties not previously covered under what has become typical apartment loan options.
Small Balance Multifamily Loans
These apartment loans or as they coming to be known, Small Balance Multifamily Loans are great for those B to C class properties that have been left out of the refinance boom and are typically subject to much higher interest rates. Now instead of 6, 7 or 8% rates, investors are successfully achieving rates almost half that of what they were receiving before.
Additionally, the small balance multifamily loan is non-recourse! With non-recourse, higher LTV ratios and unbeatable interest rates, smaller operators and investors in apartment buildings an small multifamily developments now have an alternative to higher interest rate loans.
Furthermore, with the collapse of the CMBS market and its sluggish, if non-existent return, those with CMBS loans coming due need not fear, there is a solid alternative to the CMBS market that they can use to refinance out of those loans and maybe even improve their rate in the process.
Find out more about these and other great options for apartment loans (click here).
These loans are generally made in all 50 states with a focus on the major metropolitan areas and surrounding markets in the following major cities: Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, Fort Lauderdale, Orlando, San Diego, New York, San Francisco, Phoenix, Atlanta, Tampa Bay, Detroit, Minneapolis-Saint Paul, Charlotte, Dallas / Fort Worth, Portland, Seattle, Cleveland, Oklahoma City, Jacksonville, Indianapolis, Nashville, Kansas City, Louisville, Milwaukee, New Orleans, Philadelphia, Raleigh, Sacramento, Salt Lake City, San Antonio, San Jose, Saint Louis, Tucson, Austin, Baltimore.