Seeking apartment loan

[Jimmy Stainback]

I have a quad-plex under contract that is stabilized. I have 20% down payment ready but I do not have any more conventional loans left. I am looking for a DSCR option or possibly a bridge loan. I have great credit and income. Any suggestions or referrals would be great.

Thanks!!

[David Bilandzija]

@Jimmy Stainback DSCR is a great route. Rates are at or above 7% presently for 30 year fixed DSCR loans. Lenders may offer 75% max LTV for 4 units but the building will need to generate enough cash flow to qualify. If max leverage is the goal and cash flow is an issue you still have options. There are also lenders in the investment loan space that will ignore DSCR, trade-off being a higher rate but you can still get 30 year fixed financing or long term interest only options based on a 30 year term. Good luck!