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Multi-family Lending Stays Hot!
For years, multi-family lending has been the darling of commercial lending. It remains the favored asset class despite years of rallying. It is not unlike the stock market, just keeps going positive. FNMA and FREDDIE Mac are the big coveted lenders in this space and we have a closing this week on that product, it is a great product. THERE ARE OTHER OPTIONS AS WELL THAT HAVE GREAT RATES ALSO AND LESS PAPERWORK.
Let’s face it, at the end of the day, Freddie and FNMA are still government backed loans, which means government led paperwork. Time frames are longer, and the documentation requirements are intense….but the rate and terms rock so the programs stay hot. But for a marginal increase in rates, you can get Conduit or Life company or even bank financing on your multi-family deal and a LOT less paperwork. Conduit loans, which are loans sold off in the secondary market, (i.e.,Wall Street), can often close in 35 days! We are still talking rates in the 4’s on Multi-family. It is a fantastic product.
Bank and life companies continue to stay aggressive in the multi-family space. For rehab projects, the bridge money available for good multi-family products can even get into the 5’s! FOR BRIDGE! We have access to all this capital at Commercial Capital. We can bring you the best rates from around the country to your project or property. From Wall Street to Main Street as I like to say. One call gets you access to it all and there is NO COST to get an approval in writing, we often can provide that within 72 hours. That’s right, a no risk pre-approval within 72 hours. So if you are looking for money for your commercial deal, or you know someone who is looking to invest in this hot multi-family market, give us a call at 512-650-8630. One call does it all. Give us a call today!
Commercial Capital, Ltd.
P.S. P.S. Although we have FHLMC and FNMA apartment loans available, we also have loans with less headaches and still fantastic rates. Along with bridge, mezzanine, and more-Commercial Capital is your one stop shop for all your commercial lending needs. We offer free pre-qualifying and can usually have you terms in writing in 48 hours or less! Give us a call today at 512-650-8630. Be blessed!
Give me a call today to discuss your deal at 512-650-8630
Commercial Capital LTD