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. For purchase, refinancing rehabing, we can arrange the lowest interest rate combined with the ideal term and the longest amortization available for your property, Typically the LTV will be 75% to 80% with a 30 year amortization, providing your property qualifies. In certain circumstances we can find an 85% LTV.
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.
* We provide these forms on our loan forms page.
Plan on a 60 day process, and remember when the lender submits an L.O.I., 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.