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Apartment Loan
Quick Links |
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Today's Apartment Loan Rates |
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Fixed |
Rate |
Term |
Amort |
LTV |
| 10 yr |
5.56 |
10 yr |
30 yr |
55 |
| 10 yr |
5.72 |
10 yr |
30 yr |
65 |
| 10 yr |
5.86 |
10 yr |
30 yr |
80* |
| 30 yr |
7.45 |
30 yr |
30 yr |
55 |
| 5 yr arm |
4.41 |
5 yr |
30 yr |
55 |
| 5 yr arm |
4.61 |
5 yr |
30 yr |
65 |
| 5 yr arm |
4.79 |
5 yr |
30 yr |
80 |
| 35 yr |
5.73 |
35 yr |
35 yr |
85 |
| 5 yr |
6.51 |
6 yr |
30 yr |
75 |
| 7 yr |
6.81 |
8 yr |
30 yr |
75 |
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CommercialBanc
Banc-Series
Apartment Loan
Program
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CommercialBanc's
Banc-Series™ Small Balance
Apartment Loan
Program provides
competitive, low
cost apartment
financing for five
plus individual
multifamily units,
mixed-use commercial
properties with less
than 25% of revenue
generated from
commercial use and
mobile home park
communities. |
Banc-Series Apartment
Loan Program
Overview
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Apartment Loans from
$500,000 - $5
Million
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15 and 30 Year
Amortizations
3, 5, 7, 10, 15 Year Fixed
Rate Terms
No
Defeasance or Yield Maintenance
Interest Only Payment Option
New!
No Lender Points
No
Commitment Fees
Limited Appraisal - No
Environmental
No Replacement Reserves
Monthly / Annual Leases
Acceptable
Substitute Leases With Bank
Statements
3% Seller Concession Allowed
on Purchases
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No
Balloon or Call Provisions
Maximum
LTV 80% / 85% CLTV
Step Down Prepayment
Minimum DSC of 1.20:1
Standard
1 Fee Closing Cost
No Outside Legal Fees
60 Day Rate Lock
Limited
Impound Requirements
Section 8 - Subsidized
Rents OK
Assumable at Lender Discretion
A, B and C Property Types
Considered
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3% Seller Concession Allowed
on Purchases |
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10% Seller 2nd Considered on
a Case by Case Basis |
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Mixed-Use
Commercial/Residential
Acceptable to 25% Commercial
Use |
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Property
management experience is generally required for properties with 12 or
more units, or property management letter and resume may
be substituted. |
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$5,500 capped 1 fee closing cost for
apartment loans to $5 million. Costs
include standard third party reports
including inspection, appraisal,
engineering, environmental, lender
fees, document fees, and in-house
legal. |
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Borrowers that
require
higher leverage apartment financing, CommercialBanc
combines its Banc Series™ traditional apartment loan program
with Mezzanine financing to offer up to 85% CLTV. Benefits include: |
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Mezzanine Loan Sizes $100,000
- $400,000
In-House Mezzanine
financing simplifies
the transaction
Larger loans sizes
and easier
qualifying with
combined DSCR of
1.07
Banc-Series
traditional
apartment loan
retains program
integrity
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Banc-Series Traditional to
80% LTV
Combined DSCR of 1.07
A
Note 360 Month Amortization
A
Note Step Down Prepayment
1% Origination Fee on B Note
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Mezzanine B Note to 85% CLTV
5 / 7 / 10 Year Fixed Rate
Terms
B
Note Amortized to Term
B
Note May Be Retired
Separately
B
Note Yield Maintenance
Prepay
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The Banc-Series™
small balance
conduit apartment
loan option offers
borrowers the lowest
fixed-rates of the
three Banc-Series™
program options.
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Apartment loan sizes
$500,000 - $3,000,000 / $5,000,000 in select markets
Tiered risk based
pricing provides
exceptionally low
rates for lower LTVs
May
use
additional sources of
income to help qualify in
low CAP
areas
Available on 5+
unit multifamily and limited
mixed-use properties
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25 or 30
Year Amortization Option
Subordinate Loans OK - Min. DSCR 1.25
Non-Recourse for Lower LTVs
No Prepay Last 90 Days of
Loan Term
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80% LTV Purchases
5 / 7 / 10 Year Fixed Rate
Terms
Interest Only Payment Option
1.15
DSCR in Low CAP Areas
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