Seeking Recommendations for Multifamily Refinance Lenders

[Zachary Myers]

Hi everyone,

I’m exploring options to refinance a multifamily apartment property and would love insights from those who’ve recently navigated this process. Based on my research, several lenders stand out, but I’d appreciate firsthand experiences.

Key Considerations:

• Loan Terms: Fixed rates up to 35 years, interest-only periods (e.g., 10-year interest-only options), and non-recourse structures.
• Competitive Rates: Recent transactions show rates ranging from 2.69% to 4.65% depending on LTV (55%–80%) and property type.
• Lender Specialization: Some lenders excel in specific areas:
  • Greystone and Walker & Dunlop lead in Fannie/Freddie volume and large-scale refinancing.
  • Arbor Realty Trust is praised for smaller-balance loans and flexibility.
  • CREFCOA offers streamlined refinancing with 45–60 day closings and cash-out up to 80% LTV.
  • HUD 223(f) loans provide 35-year fixed terms, ideal for stabilized properties.

Questions for the Community:

1. Have you worked with lenders like Greystone, Arbor, or Freddie Mac?
2. How was their responsiveness and flexibility?
3. For cash-out refinances, did you prioritize LTV (e.g., 75%+) or lower rates?
4. Any surprises in terms/fees?
5. Are there smaller or regional lenders (e.g., Titan Funding, CoreVest) worth considering for unique scenarios?
6. How critical was the lender’s turnaround time (e.g., 60 days vs. 90+ days) in your decision?

Thanks in advance—your experiences will help narrow down the best fit!

P.S. If you’ve refinanced in the past 12 months, sharing your rate/terms (e.g., 10-year fixed at 3.5%) would be incredibly helpful!