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Table of contents
Table of contents

Multifamily Term Loans

What is a Multifamily Term Loan?

Multifamily term loans are asset-based loans for purchasing and refinancing 5+ unit residential properties. Multifamily term loans have an interest and principal repayment (amortization) component. Investors have a few options when selecting the best multifamily term loan for a specific deal.

Underwriting Criteria for Multifamily Term Loans

Multifamily term loans are based on the following underwriting criteria:

āœ… Deal economics (see: DSCR Calculator)
āœ… Borrower track record of experience
āœ… Borrower credit score

Multifamily Term Loan Interest Rates

Our DSCR Loan Index tracks the prevailing interest rate for DSCR loans. See how OfferMarket's DSCR loan interest rate and terms compare:

Multifamily Bridge Loan Guidelines

Guidelines: Multifamily Bridge Loan
Interest Rates see index above
Origination Fees 1 to 2 points (% of loan amount)
Property Types 5+ unit and mixed use
Loan Amounts $500,000 - $25,000,000
Maximum LTV, ARV 75%
Maximum Loan To Cost Purchase: 80% of As-Is Value and 100% of rehab, Refinance: 75% of As-Is Value and 100% of rehab
Term Length up to 24 months -- +0.5% for months 13 - 18, +0.75% for months 19 - 24
Minimum Guarantor FICO 650
Ownership LLC or Corporation
Recourse Full recourse, Limited recourse

What is the process for getting a multifamily term loan?

Timeline: 15 - 30 days

  1. Get a quote (takes 1 minute)
  2. Complete processing action items in your My Loans portal
    āœ… Credit & Background Check
    āœ… Personal Financial Statement
    āœ… Schedule Of Real Estate Owned (track record of experience)
    šŸ“„ Download your pre-approval letter
    šŸ“„ Download your loan terms
    āœ… Upload entity docs
    āœ… Authorize title order
    āœ… Authorize appraisal order
  3. Schedule closing