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Table of contents
Table of contents
Multifamily Term Loans
What is a Multifamily Term Loan?
Multifamily term loans are asset-based loans for purchasing and refinancing 5+ unit residential properties. Multifamily term loans have an interest and principal repayment (amortization) component. Investors have a few options when selecting the best multifamily term loan for a specific deal.
Underwriting Criteria for Multifamily Term Loans
Multifamily term loans are based on the following underwriting criteria:
âś… Deal economics (see: DSCR Calculator) âś… Borrower track record of experience âś… Borrower credit score
Multifamily Term Loan Interest Rates
Our DSCR Loan Index tracks the prevailing interest rate for DSCR loans. See how OfferMarket's DSCR loan interest rate and terms compare:
Multifamily Bridge Loan Guidelines
| Guidelines: | Multifamily Bridge Loan |
|---|---|
| Interest Rates | see index above |
| Origination Fees | 1 to 2 points (% of loan amount) |
| Property Types | 5+ unit and mixed use |
| Loan Amounts | $500,000 - $25,000,000 |
| Maximum LTV, ARV | 75% |
| Maximum Loan To Cost | Purchase: 80% of As-Is Value and 100% of rehab, Refinance: 75% of As-Is Value and 100% of rehab |
| Term Length | up to 24 months -- +0.5% for months 13 - 18, +0.75% for months 19 - 24 |
| Minimum Guarantor FICO | 650 |
| Ownership | LLC or Corporation |
| Recourse | Full recourse, Limited recourse |
What is the process for getting a multifamily term loan?
Timeline: 15 - 30 days
- Get a quote (takes 1 minute)
- Complete processing action items in your My Loans portal
âś… Credit & Background Check âś… Personal Financial Statement âś… Schedule Of Real Estate Owned (track record of experience) đź“„ Download your pre-approval letter đź“„ Download your loan terms âś… Upload entity docs âś… Authorize title order âś… Authorize appraisal order - Schedule closing
