Apartment Loans

Small Apartment loans:

Loan Sizes $500,000 - $5 Million -- Highly competitive apartment loans for multifamily properties with 5 or more individual units, including mixed-use commercial and mobile home parks, through a low cost, streamlined and simplified loan process. Low closing costs, up to 85% LTV, limited impounds.

Seniors Housing Loan Program

Student Housing Loan Program

Affordable Housing Loan Program

Stated Income Apartment Loan Program

Manufactured Community Housing Loan Program

Senior Housing loan program:

Loan Size: $1,000,000- No Maximum
Maximum LTV: 75-80%
We arrange flexible financing terms for single asset or multi-asset fee managed or leased properties. Tax-exempt financing available through Bond Credit Enhancements with both fixed and variable rate options amortized for 25 years. Eligible properties are those can provide Independent Living, Assisted Living with or without Alzheimer's care. Bond Credit Enhancements available for non-profits and owners of affordable seniors housing facilities.

Student Housing:

Loan size: $500,000 - No Maximum
Location: Nationwide
Maximum LTV: 75%
Eligible properties:

• Typically located at or near a college or university with a minimum of 10,000 students, the majority of which are full time.

• Existing, stabilized properties that have a student tenant base and are not readily convertible to conventional multifamily housing.
• Properties typically have undergraduate or graduate students comprising a minimum of 80% residency that were specifically constructed as student housing facilities, or built as conventional multifamily housing that function as dedicated student housing.

Affordable Housing:

Agreat Financial works closely with Fannie Mae, Freddie Mac, developers, nonprofit organizations, foundations, and other agencies and lenders to provide both debt and equity solutions for the financing of affordable rental housing properties for low and moderate income families. We arrange permanent financing for the acquisition or refinance of existing, stabilized multifamily properties - as well as funded and unfunded forward commitments for construction and substantial rehabilitation of affordable housing properties - that meet or exceed the income and occupancy restrictions of the federal Low-Income Housing Tax Credit (LIHTC) program.
Loan Size: $500,000-No Maximum 30 Amortization, 10 year fixed rate available
Maximum LTV: 90%
Minimum DSCR: 1.15
Eligible borrowers are Owners and Operators interested in the affordable housing rental market
Eligible properties are well-built, well-maintained stabilized rental properties with a minimum of 7 years left of LIHTCs (Low Income Housing Tax credit)
LIHTC Guidelines:

• At least 20 percent of all units must have restricted rents affordable to households earning no more than 50 percent of AMI (area median income); or
  
• At least 40 percent of all units must have restricted rents affordable to households earning no more than 60 percent of AMI; or
  
• There is a compelling public purpose -- namely continued affordability -- which is furthered by the property.
  

Manufactured Community Housing:

Agreat Financial arranges manufactured community housing loans with flexible financing terms and competitive fixed rate pricing for ground lease manufactured housing communities. Our professionals understand the complexities of financing manufactured community housing properties. They can structure customizable financing terms including fixed or variable rate pricing, MBS or cash execution, flexible prepayment options, and other options to help borrowers achieve their multifamily financing objectives.

Loan Size: $500,000-No Maximum
Location: Nationwide
Amortization: 5 or 30 years on a case by case basis with fixed or variable rates
Maximum LTV: 75%--80%
Minimum DSCR: 1.5

Stated Income:

Loan Size: $100,000- $1,000,000
Amortization: 15,25, or 30 years with 6 months, 1,2,5, year fixed
LTV: up to 85%

Stated Income Apartment Loan Program provides competitive apartment financing for borrowers requiring a reduced document or stated income option.

• No personal or business income tax returns required
• No personal financial statements required
• No monthly/annual reporting req.
• Up to 85% financing for good credit borrowers
• Good property condition required
• 575 Minimum Credit Score for the borrower

Property Eligibility:
Multifamily: Structures containing five or more dwelling units with common area facilities such as entrances, lobby, elevator, stairs, mechanical space, walks or grounds. Units must be rented on a non-transient basis such that tenants consider their unit their permanent residence.
Mixed-Use: Mixed-use properties must contain at least one commercial unit (retail, office, etc.) and at least one residential unit. To be considered mixed-use multifamily, the primary use must be residential.

Large Apartment Loan:

$5 million to $100 million With funding sources including insurance companies, REITs, conduits, and both the Fannie Mae DUS(tm) Lender program and Freddie MAC, we arrange the nation's most competitive and aggressive apartment financing for apartment loans above $5 million. Highly competitive, flexible financing solutions for multifamily properties including seniors housing, student housing, affordable housing, and manufactured community housing properties.

Contact Agreat Financial at 1-888-841-1998 to learn more. Get a free, no obligation quote.