Announcing Our Best Apartment Building Loan Program Ever!
Select Commercial is pleased to announce a new program for the purchase or refinance of apartment buildings with the lowest rates and best terms we have ever offered!
Here are the features and benefits of these loans:
- 5 year fixed rates as low as 3.05% today.
- Nationwide lending. Metropolitan markets preferred.
- Rates fixed for 5, 7, or 10 years.
- Adjustable rate option after conclusion of initial fixed rate.
- 30 year amortization.
- Interest Only payments allowed.
- Easy step-down prepayment penalties (no yield maintenance or defeasance).
- Up to 80% LTV ratio.
- As low as 1.20x debt service coverage ratio.
- Many prepayment options to choose from.
- Free rate lock for up to 90 days.
- Loans from $1,500,000 and up.
- Conventional multi-family (5+ units), including housing with tax abatements and Section 8 vouchers.
- Loans for purchase or refinance.
- Cash-Out refinances acceptable.
- Non-Recourse
- Tax escrows, Insurance escrows, and Replacement Reserves may be waived (subject to applicable guidelines).
- Credit scores as low as 650 acceptable.
- Very low application fees.
If you have a deal to discuss with us, please feel free to call us at 1-877-548-9454 or click here to complete an online inquiry.
Author
Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC. Mr. Sobin has over 35 years’ experience originating commercial real estate loans. He formed Select Commercial to offer commercial mortgage banking and real estate capital advisory services to his clients on a national basis. His goal was to become an advocate for his clients and to help them navigate the ever-changing economic conditions facing the banking industry and to assist them by providing access to commercial real estate funds despite the uncertainty of the capital markets. The company was founded on the belief that most small to medium sized property and business owners lacked the expertise and sources to obtain the best financing options in the $1,500,000 to $10,000,000 range. While large real estate companies often have in-house finance professionals, most small to medium sized borrowers do not have the same access to professional advice and sources of funds. Mr. Sobin focuses on providing those services to this segment of the market.