Multifamily properties have a variety of mortgage options that can be very favorable to the borrower. These apartment loans can depend on multiple variables that determine the rate and terms. Financing can be designed for first-time investors or borrowers with extensive multifamily history. Our Alico underwriting department will assist you in preparing the best-suited loan product for your current property or acquisition.
|Loan Type||Term Options||Average Rate||Loan to Value||Amortization|
|Conventional Multifamily Financing||3 - 15 Years||10.846% - 10%||85% - OO / 75% - Investment||15 - 30 Year|
|CMBS Multifamily Financing||5 - 10 Years||6.03% - 7.22%||75% - Investment||30 Year|
|Agency Multifamily Financing||5 - 30 Years||0% - 5.33%||80% - Investment||30 Year|
|USDA Multifamily Financing||5 - 30 Years||8% - 11%||80% - OO / Investment||30 Year|
|Insurance Multifamily Financing||5 - 30 Years||5.88% - 7.89%||70% - Investment||30 Year|
|Bridge Multifamily Loan||6 - 36 Months||9.17% - 18.18%||80% - Investment||I/O|
|Construction Multifamily Loan||6 - 36 Months||9.49% - 14.5%||75% - Investment||I/O|
|Mezzanine Multifamily Loan||5 - 10 Years||7.72% - 11.53%||75% - Investment||30 Year|
Bridge loans are designed to provide re-stabilization capital for renovation and or stabilization. These are generally short term loans designed to carry the property and or business to a viable exit strategy.
|Term||Fixed Rate||Maximum Loan to Value||Amortization|
|35 Years||5% - 6.26%||83.3% - Investment||35 Years|
|40 Years||5.15% - 6.36%||80% - Construction||40 Years|
Multifamily properties are also eligible for FHA loans. The Department of Housing and Urban Development of the Federal Housing Authority has federally insured the multifamily product, which is a large-balance, non-recourse mortgage product (HUD). For seasoned investors with large-scale structures and larger loan amounts, it is a very attractive alternative. For this program, you must have significant multifamily expertise or prior HUD ownership/management experience. It might be applied to new construction or existing buildings.
A USDA multifamily loan is normally issued by a financial institution and subsequently insured by the US Department of Agriculture, however it can also be made directly in specific situations. It is aimed towards people with low incomes, the elderly, and those with disabilities. Multifamily dwelling may be purchased or built using this product in qualifying rural regions with a population of 50,000 or fewer.
|Term||Floating Rate||Fixed Rate||Loan to Value||Amortization|
|5 years||5.99% - 7.49%||Contact us||80%||30 years|
|7 years||5.96% - 7.46%||Contact us||80%||30 years|
|10 years||5.88% - 7.38%||Contact us||80%||30 years|
|Term||Fixed Rate||Adjustable Rate||Loan to Value||Amortization|
|5 Years||5.05% - 5.29%||80%||30 Years|
|7 Years||5.09% - 5.33%||80%||30 Years|
|10 Years||5.00% - 5.24%||80%||30 Years|