Multi-family property is defined as a residential property composed of five or more dwelling units in which no more than 20 percent of the net rentable areas is rented to, or to be rented to non-residential tenants. At Cohen Financial Group, we specialize in getting our clients the most competitive multi-family/apartment loans imaginable. With the wide variety of apartment real estate, we have several investment mortgage loan products to meet your individual needs.

Location:
Nationwide

Type:
Acquisitions, refinances, and new construction of apartment and multi-family properties

Loan Options:
Fixed and adjustable loans

Amortization:
15, 20, 25, 30, and 40 years

Term:
10, 20, 25, and 40 years

Loan-to-Value:
Multi-family and apartment financing: 75-90% LTV

Debt Service:
DSCR on apartment loans and multi-family properties is 1.11% - 1.20%

Collateral:
Apartment investment mortgage loans on real property

Property Types:
Multi-family apartment units with 5 units and up

Loan Types:
Conventional, FHA, Fannie Mae and Freddie Mac

Eligible Properties:
· Existing apartment properties with 5+ units; limited mixed use acceptable
· No properties with deferred maintenance in excess of 5% of value
· Mixed-use, multi-family apartment loans with retail on bottom floor
· Conduit Loans of multi-family properties with 20 or more units
· Permanent, construction or substantial rehabilitation

Loan Programs:
Highly competitive with a wide array of rate plans including:
· 3, 5, 7, 10, 15, 25, 30, 35 and 40-year fixed interest rate terms
· 10, 15, 25, 30, 35 and 40-year fixed and variable rate loan amortizations
· 3, 5, and 10-year interest-only loan structures are available

Prepayment:
Pre-payment penalties are common when searching for the best and lowest fixed rate of the market. Loan choices can range from fixed declining with yield maintenance, loan defeasance, declining 5, 4, 3, 2, 1 or 3, 2, 1 options - or no prepay penalty with higher rate and fee options are available. Apartment loans may or may not require recourse or personally guarantees.

Personal Guarantee:
Non-Recourse and Recourse options

Minimum DCR:
1.11 based on today's mortgage interest rates along the requested loan constant

Fees:
Loan amounts below $3,000,0000 (costs will range from $6,000 to $12,000). Loan amounts over $3,000,000 (costs can be $20,000 or more). Borrowers are responsible for all due diligence and closing costs (appraisal, environmental, engineering site inspection, title, etc.)

Loan-to-Value:
· 90% for construction
· 85% for purchase or refinance
· 75% for cash-out refinance

Rate Lock:
60-day lock-in is available. Advanced deposit is required and credited towards loan closing.