Are You Shopping for an Apartment Building Loan?
We specialize in apartment building financing on a nationwide basis. We have a special program for loans of $1,000,000 to $5,000,000 that I’d like to discuss with you today. These loans are available for purchase or refinance and allow for cash-out refinancing. Some of the features and benefits of our program include:
- We offer fixed rate loans for 5, 7, and 10 year terms.
- At the conclusion of this term, our loan converts to an adjustable. This eliminates the balloon payment.
- We amortize our loans for a full 30 years.
- Interest only loans are available for several years at the beginning of the loan term.
- Loan to Value ratios up to a full 80% are considered
- We offer Non-Recourse financing. No personal guarantee is required.
- Easy stepdown pre-payment penalties and no yield maintenance formulas!
- Simplified application and underwriting. We do not require tax returns!
- Loans available nationwide. We lend in all markets, including rural areas.
- Fast closings. Most loans close within 45 days from formal application
- Free rate locks. We lock your rate for 35 business days from application at no additional cost.
- Low 3rd party costs. We cap our third-party costs which can save you thousands of dollars.
- Extremely competitive rates. Our rates are among the lowest available.
- No cost and no obligation rate quotes. Apply simply and get pre-approved in 24 hours!
If you would like to discuss a loan scenario, please call me at 516-596-8537 or visit Select Commercial at www.selectcommercial.com today!
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.