Lender · Houston, TX · Member since 2026 · 104 posts · 22 votes
If you bought or repositioned a 5+ unit or mixed-use property on bridge debt, the usual exit is a 30-year fixed loan with no balloon. Programs I'm seeing go from about $100,000, up to 75% LTV on purchases (70% for first-time investors), and some have no minimum credit score.
The piece that slows most refis down isn't the rate. It's the paper. The long-term lender wants a clean rent roll and real occupancy history before the appraisal is ordered. If you start documenting the day the building stabilizes, the refi goes faster.
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For those who've refinanced out of bridge debt on a small multifamily: how many months of stabilized occupancy did your lender ask for?
That’s a good point about documenting occupancy from the beginning. Having a clean rent roll and a consistent occupancy history seems just as important as securing the right financing. Do lenders generally prefer 3–6 months of stabilised occupancy before considering a permanent loan?