Multifamily Construction Lending Guidelines
If you are seeking construction bridge financing for multifamily and apartment projects, we are here to assist. In most cases, we can get a construction loan approved for you for 70% of the total value of the property, or 80% of cost. We are a commercial bridge construction lender and offer bridge loans for construction of apartments Nationwide.
Term: Up to 36 months preferred
Target Loan Size: Up to $75,000,000
Structure: Interest only, paid monthly (We can provide an interest reserve)
Rate: Floating rates with a floor of between 7.5% and 9%
Fees: Typically up to 1% per year (To be paid at closing)
Loan to Cost: Up to 80% of cost
Loan to Value: Up to 70% of value Collateral: First lien deed of trust/mortgage on the property
Guaranty: Limited recourse in the event of specific bad acts and Completion Guarantees required.
Payment Guarantee: TBD based on the project and sponsor.
Borrower Equity: The Borrower is to invest required equity into the project prior to funding
Prepayment: Varies by Project Underwriting: Based on experience of the sponsor, fundamentals of the business plan, location and underlying value of the property
Target Markets: Austin, Dallas/Fort Worth, Houston, San Antonio, Phoenix, Nashville, Denver, Colorado Springs and other major metropolitan areas across the United States