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Updated almost 6 years ago on . Most recent reply
Agency financing for apartment complexes - where to start?
I'd like to firm up on agency financing and am looking for a clear and concise source to learn from. I'd like to learn more about the individual programs available for multifamily loans (apartments) of $1mm up to $10mm. Also looking to learn about the process in obtaining agency financing, the costs associated with it, and timeline expected to fund. Thanks!
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@Account Closed Hello.
Here is a link to Fannie Mae for their Small Balance Loan program for multifamily. Straight from the source and pretty much what all lenders will be going by for the program. It's not an easy loan to get but the rate is very attractive and the fees are relatively low, as they are regulated.
I have access to the program as a Mortgage Broker but have yet to do one. Expect probably 60+ days to close on it and a lot of conditions to be met by you and the seller. You are welcome to reach out to me for specific questions and I will do my best to find the answer.