If you're looking to
refinance your
apartment loan and
get maximum cash
out,
Equity Plus™
provides the most
leverage with an
industry high LTV of
90%. We use a low
debt coverage ratio
of just less than 1
to 1, further
increasing the
amount of available
cash.
Equity Plus™
places no
restrictions on
use of proceeds. You
can pay off personal
debt, invest, or
just keep liquid in
a bank of your
choice!
Getting
approved for
your Equity
Plus™
Apartment
Loan
is
simple and
quick. We
have
a streamlined loan
process,
require
fewer
documents
and have less
restrictive
underwriting
guidelines.
Min Loan
Size
$100,000
Max Loan
Size
$1,500,000
LTV
90%
CLTV
95%
Amortization
30 Years
Payment Type
P/I
Fixed
Period
2, 5, 10, 15,
30 Yr.
Documentation
Full
Recourse
Full -
Limited
Prepayment
Decreasing
Term
Lock Out
No
Assumable
No
DSCR
-.55
Credit
Score
580
Points
0
1 Fee
Closing
Starts at
$5,295
Appraisal
Limited FHLMC 71
Closing
Time
20-45 Days
Rate Lock
60 Days
Impounds
Tax and
Insurance
Property
Quality
A-B-
Mixed-Use
25%
Rental Subsidies
Yes
Minimum Occupancy
90%
No
Cost - No Obligation -
Secure
▪
No Lender Points
▪
95% Financing
▪
Low Fixed Rates
▪
30 Year Terms
▪
No
Balloons
▪
No
Loan Committee
▪
No
Up-Front Fees
▪
Low DSCR of .55:1
▪
1 Fee Closings
▪
No Yield Maintenance
▪
30 Day Closings
Getting prequalified for
your
Equity-Plus™
apartment loan has never
been quicker or easier. With
our residential approach to
underwriting, we focus on
more than just the property.
We can include personal
income to support property
income and mitigate most
underwriting shortfalls with
good personal credit . To
get started, simply
complete our apartment loan
Quick
Quote™.
There
is no cost or obligation and
no up-front fees.
Apartment Loan Size:
Multifamily Property Type:
Property Location:
Rate:
LTV:
Name:
Phone
Number:
Cell
Phone:
Credit:
E-mail:
Fax
Number:
By
submitting this online
apartment loan application
to CommercialBanc, I/We
acknowledge that the
property will not be used
for any illegal or
restricted purpose, and that
all statements made in this
apartment loan application
and the attachments, are
true and complete and are
made for the purpose of
obtaining the apartment
loan.
