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Forums » Mortgages & Lending » Multifamily Funding

Multifamily Funding Subscribe to Multifamily Funding

4 posts by 3 users

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Tag Tags: funding multifamily nonrecourse lending


Kevin Yeats

Real Estate Lender · Fort Pierce, Florida


Forum_avatar_avatar-kyeats

Icon_minipost Feb 08 '10, 04:19 AM

One of my business contacts recently notified me of the availabilty of funding for Multifamily Properties.

Details

Apartment building loans - for purchase and refinancing

85% Loan-to-Value
35 Year Amortization
35 Year Term (no balloon)
No maximum loan amount
Fixed interest rate, based on spreads over 10-Year Treasury Yield
No personal liability (non-recourse)
Third-party expenses and loan costs can be financed.

This business partner needs a summary of the project before he can be any more specific.

Contact me. email on profile.

Edited: 06/26/2010 at 11:33AM by Kevin Yeats


Anthony Larson

Real Estate Investor · Las Vegas, Nevada


Forum_avatar_avatar-tonyrei

Icon_minipost Feb 08 '10, 09:15 PM

I had a question and hopefully you could clear this up for me.
If the value of a property is five hundred thousand and you purchasing it for 350000.
Could you take a loan out for 350000 and not need a down payment????

Edited: 06/26/2010 at 11:34AM


Jon Holdman

Real Estate Investor · Denver, Colorado


Forum_avatar_avatar-wheatie
ModeratorPro

Icon_minipost Feb 09 '10, 12:17 AM

Will your partner do the same 85% LTV non-recourse loans for an IRA?

Edited: 06/26/2010 at 11:34AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Kevin Yeats

Real Estate Lender · Fort Pierce, Florida


Forum_avatar_avatar-kyeats

Icon_minipost Feb 09 '10, 03:51 AM

Anthony,

The short answer is no. This lender wants all of the borrowers to have "skin in the game."

In their view (and mine) by purchasing a property "worth" $500,000 for $350,000 you establish that the value really is $350,000.

Edited: 06/26/2010 at 11:35AM by Kevin Yeats


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