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Apartment Loans
Goldman & Klein consultants work hand-in-hand with leading national banks to provide long-term, low interest commercial real estate loans for qualified apartment properties and qualified construction projects. We love income properties. We love real estate. We fund loans from $1 million to $100 million and more.
Goldman & Klein has two primary multifamily programs:
- New construction or substantial rehab program.
- Refinance or purchase of existing multifamily rental properties.
Benefits of our new construction and rehab loans:
- Long-term (up to 40 years), fixed rate financing is always available
- Mortgage amount up to 90% of project replacement cost
- Rates may be fixed before start of construction
- Many developers obtain FHA insurance commitments and then pick the best time to lock the rate
- Federal guarantee results in AAA rating on financing
- Provides construction and permanent financing
- Non-recourse loans
Program Eligibility:
- Properties must contain 5 or more rental units
- Projects may be designated for elderly (age 62 or older) or handicapped residents
- Properties must comply with specified HUD and local standards
- Owner must sign regulatory agreement with FHA governing project operations
- Projects are subject to cost certification
Read SBA Loan Options »
Refinancing of Existing Properties
Goldman & Klein provides excellent long-term rates and terms for refinance and purchase loans for apartment properties. These properties usually do not require substantial rehabilitation, but may include funds for minor repairs and improvements.
Benefits:
- Long-term (up to 35 years), fixed-rate financing, with interest rates negotiated between the lender and the borrower
- Mortgage amount up to 85% of the project's value
- Federal guarantee with Ginnie Mae securitization, resulting in AAA rating on financing
- Non-recourse loans
Program Eligibility:
- Properties must contain 5 or more apartment units
- Properties must not require substantial rehabilitation (minor repairs and improvements are permitted)
- Properties must be at least 3 years old prior to filing of an application
- Projects must be continually occupied before insurance endorsement or an operating deficit escrow is required
- Eligible mortgagors (borrowers) include individuals, partnerships, corporations or other legal entities approved by FHA
- No constructionfinancing is available
- Owner must sign a regulatory agreement with FHA governing project operation
- Projects are subject to cost certification
Apply for your apartment loan »
Call 1-858-602-7800 for a free loan consultation
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