We specialize in apartment building financing on a nationwide basis. We have a special program for loans of $1,000,000 to $5,000,000 that I’d like to discuss with you today. These loans are available for purchase or refinance and allow for cash-out refinancing. Some of the features and benefits of our program include:
- We offer fixed rate loans for 5, 7, and 10 year terms.
- At the conclusion of this term, our loan converts to an adjustable. This eliminates the balloon payment.
- We amortize our loans for a full 30 years.
- Interest only loans are available for several years at the beginning of the loan term.
- Loan to Value ratios up to a full 80% are considered
- We offer Non-Recourse financing. No personal guarantee is required.
- Easy stepdown pre-payment penalties and no yield maintenance formulas!
- Simplified application and underwriting. We do not require tax returns!
- Loans available nationwide. We lend in all markets, including rural areas.
- Fast closings. Most loans close within 45 days from formal application
- Free rate locks. We lock your rate for 35 business days from application at no additional cost.
- Low 3rd party costs. We cap our third-party costs which can save you thousands of dollars.
- Extremely competitive rates. Our rates are among the lowest available.
- No cost and no obligation rate quotes. Apply simply and get pre-approved in 24 hours!
If you would like to discuss a loan scenario, please call me at 516-596-8537 or visit Select Commercial at www.selectcommercial.com today!