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:
✅ Deal economics (see: DSCR Calculator) ✅ Borrower track record of experience ✅ 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
- Get a quote (takes 1 minute)
- Complete processing action items in your My Loans portal
✅ Credit & Background Check ✅ Personal Financial Statement ✅ Schedule Of Real Estate Owned (track record of experience) 📄 Download your pre-approval letter 📄 Download your loan terms ✅ Upload entity docs ✅ Authorize title order ✅ Authorize appraisal order - Schedule closing
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