Multifamily lending parameters
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At CWMC, we are experts in multi-family and apartment building lending. Historically, multi-family and apartment mortgage loans have constituted the largest portion of our total business volume. Whether you are looking to finance a small apartment building, a complex with hundreds of units, or a co-operative looking for an underlying mortgage, we can help you find the optimal financing solution to meet your individual needs. Our company has access to multiple capital sources, including: Fannie Mae, Freddie Mac, HUD, numerous local and national banks, Wall Street conduit lenders, Agency lenders, credit unions and insurance companies. We will entertain loan requests of all sizes, beginning at $500,000.

Our Benefits

•Rates start as low as 3.44% (as of 5/29/13)

•No upfront application fees

•Simplified application process

•Financing up to 80% LTV

•Terms and amortizations up to 30 years

•Long term fixed rates

•Loans for purchase and refinance, including cash-out

Specific loan parameters

Amounts: $500,000 - $5,000,000

Fixed Rate Balloon Loans: 5, 7, 10 year loan terms with up to 30 year amortization

Loan to Value up to: 80% Purchase or Refinance

Minimum Debt Service Coverage Ratio: 1.25x Interest Rates: low spread over treasury rates - fixed lower spreads for lower loan to values and higher Debt Service Coverage

Financing Fee: 1% Property Requirements: 5 or more multifamily units

Stabilized Occupancy: 90 percent or better physical occupancy (85 percent economic) for the preceding 12 months

Eligible Borrower Structures: Corporation, Limited Liability Company, Limited Partnership, General Partnership, Trust, Co-Tenant, Individual. The Borrower is not required to be a single asset entity

Borrower / Key Principal Financial Eligibility: Generally, post-closing liquidity equal to or greater than nine (9) months of debt service and Aggregate Key Principal net worth equal to or greater than the subject loan amount

Borrower / Key Principal Real Estate Experience Requirements: Minimum of 3 years ownership with two multifamily properties (5+ units) OR Five years or more with the subject property Borrowers need good track record, portfolio at least a few properties, good credit and a multi-year History of operating apartments



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Multifamily
Any additional questions, please feel free to visit our F.A.Q. and glossary pages to clear up any confusion. Of course you can contact us immediately if you should have any questions.

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