Bank Apartment Loan Program
In addition to offering loans from agency lenders Fannie Mae and Freddie Mac, we also offer many different bank and portfolio loan programs. While the agency lenders typically have the lowest rates available in the market, many times the borrower would be better off obtaining an apartment building loan from a traditional portfolio lender. Often times, a portfolio product will better serve the needs of the borrower by offering more flexible underwriting and loan terms. Some of the key advantages to a portfolio or bank loan include:
Flexible underwriting guidelines
Flexible prepayment penalties
Properties that are in need of repairs, maintenance, or updating
Properties in less than desirable markets
Properties in smaller markets
Borrowers with difficulty providing tax returns
Borrowers with past credit issues
Properties with less than stellar cash flow
Borrowers who are not citizens or Green card holders
Mixed-use properties containing commercial income
Properties that house college students in college towns
Loans that require cross collateralization with other properties
HUD contracts, HAP contracts and Section 8 tenants acceptable
Mobile home parks and manufactured housing communities
Purchases where the down payment results from a gift from family members
Loans with long-term amortization and no balloon payments
Recent TRUSTPILOT Reviews
Select Commercial Funding Reviews from TRUSTPILOT
A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"