<br>

## What is a Multifamily Term Loan?

<br>

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. 

<br>

## Underwriting Criteria for Multifamily Term Loans

<br>

Multifamily term loans are based on the following underwriting criteria:

<br>

✅ Deal economics (see: [DSCR Calculator](https://www.offermarket.us/tools/dscr-calculator))</br>
✅ Borrower track record of experience</br>
✅ Borrower credit score</br>

<br>

## Multifamily Term Loan Interest Rates

<br>

Our [DSCR Loan Index](https://www.offermarket.us/blog/dscr-loan-interest-rate-index) tracks the prevailing interest rate for DSCR loans. See how OfferMarket's DSCR loan interest rate and terms compare:

<br>

<iframe width="551" height="371" seamless frameborder="0" scrolling="no" src="https://docs.google.com/spreadsheets/d/e/2PACX-1vRJPw1fYWqj_5mdlNBrD5MLne_ApqpOXlNmkmNE_sZfPgsbn9pU0mWUenEO1x6WE9237S7jzaQE2Hig/pubchart?oid=262687025&amp;format=interactive"></iframe>
<br>
<br> 

## Multifamily Bridge Loan Guidelines

<br>

<div style="display: grid; grid-template-columns: repeat(1, minmax(0, 1fr)); overflow: auto; white-space: nowrap;">
<table>
<thead>
  <tr>
    <th>Guidelines:</th>
    <th>Multifamily Bridge Loan</th>
  </tr>
</thead>
<tbody>
  <tr>
    <td>Interest Rates</td>
    <td>see index above</td>
  </tr>
  <tr>
    <td>Origination Fees</td>
    <td>1 to 2 points (% of loan amount)</td>
  </tr>
  <tr>
    <td>Property Types</td>
    <td>5+ unit and mixed use</td>
  </tr>
  <tr>
    <td>Loan Amounts</td>
    <td>$500,000 - $25,000,000</td>
  </tr>
  <tr>
    <td>Maximum LTV, ARV</td>
    <td>75%</td>
  </tr>
  <tr>
    <td>Maximum Loan To Cost</td>
    <td>Purchase: 80% of As-Is Value and 100% of rehab, Refinance: 75% of As-Is Value and 100% of rehab</td>
  </tr>
  <tr>
    <td>Term Length</td>
    <td>up to 24 months -- +0.5% for months 13 - 18, +0.75% for months 19 - 24</td>
  </tr>
  <tr>
    <td>Minimum Guarantor FICO</td>
    <td>650</td>
  </tr>
<tr>
    <td>Ownership</td>
    <td>LLC or Corporation</td>
  </tr>
  <tr>
    <td>Recourse</td>
    <td>Full recourse, Limited recourse</td>
  </tr>
</tbody>
</table>
</div>

<br>

## What is the process for getting a multifamily term loan?

<br>

**Timeline:** 15 - 30 days

<br>

1. [Get a quote](https://www.offermarket.us/loans) (takes 1 minute)
<br>
2. Complete processing action items in your [My Loans portal](https://www.offermarket.us/my/loans)
<br>
✅ Credit & Background Check</br>
✅ Personal Financial Statement</br>
✅ Schedule Of Real Estate Owned (track record of experience)</br>
📄 Download your pre-approval letter</br>
📄 Download your loan terms</br>
✅ Upload entity docs</br>
✅ Authorize title order</br>
✅ Authorize appraisal order</br>
3. Schedule closing

<br>









Multifamily term loans are asset-based for purchasing and refinancing 5+ unit residential properties. OfferMarket offers these loans to experienced investors.

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Multifamily Term Loans | OfferMarket

Multifamily Term Loans

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Related terms

<br>

An individual training to become a licensed real estate appraiser who has completed at least 75 hours of education.

<br>

## Related terms
- [Certified General Appraiser](https://www.offermarket.us/real-estate-glossary/certified-general-appraiser)
- [Certified Residential Appraiser](https://www.offermarket.us/real-estate-glossary/certified-residential-appraiser)
- [Licensed Residential Appraiser](https://www.offermarket.us/real-estate-glossary/licensed-residential-appraiser)

A Trainee Appraiser is an individual training to become a licensed real estate appraiser who has completed at least 75 hours of education.

*Quote takes 1 minute, no credit pull

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What is a Trainee Appraiser in real estate?

* Takes 2 minutes, no credit pull