multifamily lender- please advice

16 Replies

Can you guys please recommend me a broker/lender who will lend on a multifamily property.

Ive been looking at few different states (Arizona, Florida, Idaho, etc)

Even if you dont have anybody state specific, may be you could let me know in general of any multifamily broker that you know of.

Thank you so much!

For smaller assets (loans under $500k) your local banks and credit unions are going to be more economical.

For anything over $1mm I would recommend reaching out to a Fannie Mae or Freddie Mac multifamily lender. They lend nationwide.

If over $2mm, reach out to a HUD multifamily lender. They lend nationwide.

Any of the above will also be able to help you size the loan or answer questions about the property.

Originally posted by @Brian Robbins :

@Mary Jay I recommend Cutt Ableson at Berkadia in Houston for anything over 50 doors. They are outstanding and handled our last Freddie Mac loan.

 Thank you..DId they make you put 20% down?

Originally posted by @David Weintraub :

What type of lending you looking for?  How many units?  Terms? 

 I was looking at two deals:

1) one is 10 units in Florida

2) Fourplex in Indiana

Originally posted by @Kyle Jean :

For smaller assets (loans under $500k) your local banks and credit unions are going to be more economical.

For anything over $1mm I would recommend reaching out to a Fannie Mae or Freddie Mac multifamily lender. They lend nationwide.

If over $2mm, reach out to a HUD multifamily lender. They lend nationwide.

Any of the above will also be able to help you size the loan or answer questions about the property.

 But those want 20% down, right?

Originally posted by @David Weintraub :

I think at 5+ everyone is going to want around 20% down.  For the 4 units or fewer, you can get less than that. 

 Thank you...

Can you please recommend somebody? You can pm me if its easier

@Mary Jay it is common for Freddie and Fannie to work between 70-75% LTV on their debt but it is different for every deal. In fact they wont tell you the exact $$ amount of the loan proceeds until late in the process and will just give you an estimate until very close to closing.

Originally posted by @Brian Robbins :

@Mary Jay it is common for Freddie and Fannie to work between 70-75% LTV on their debt but it is different for every deal. In fact they wont tell you the exact $$ amount of the loan proceeds until late in the process and will just give you an estimate until very close to closing.

 Thank u!

I can’t believe they won’t tell u in till late in the process !

If you need a lender in Texas for future deals, I am a loan officer with Capital Concepts and we specialize in investor loans so we are very efficient with multifamily deals.  Let me know if I can be of service to you. 

Originally posted by @Grant Rothenburger :

@Mary Jay There are a couple of HML's that lend long term. Higher interest but easier to qualify for it. Lima one capital is one I can think of off the top of my head.

 Thank you so much, Grant!

Originally posted by @Mary Jay :
Originally posted by @Grant Rothenburger:

@Mary Jay There are a couple of HML's that lend long term. Higher interest but easier to qualify for it. Lima one capital is one I can think of off the top of my head.

 Thank you so much, Grant!

 You're welcome!