Updated almost 6 years ago on . Most recent reply
Ask Anything! Fannie / Freddie Multifamily Lending
Ask any question regarding multifamily lending with Fannie and Freddie. Topics may include proper expense guidance, COVID-19 escrows and their releases, net worth and liquidity requirements or non-recourse elements. I’m here to provide as much information as possible.
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@Kevin Owens I have a couple questions based on a this scenario. Lets say you are looking at a 30 unit apartment building that costs $2M and has 4% CAP rate.
What minimum percent down payment is required?
Can a down payment come from a HELOC?
What net worth or other factors are you looking for in an investor?
What information do you need on the property?
What type of interest rate and term is available (ballpark)?
How much time do people usually allow for closing after an offer is made?
When you meet with a banker, what type of information do they want so see? Property details, net worth statements, etc.