First Commercial Mortgage, Inc. - Multifamily Flex Loan

Eligible Properties:

Existing Apartment Properties with 5+ units
Mobile Home Parks with 15+ pads
Mixed Use Properties

Loan Size: $1 million to $5 million

Location: Nationwide

Loan-to Value: 80%

Costs: Fixed at application

Rate Lock: Available at application

Prepayment: Allowed (many options) Assumable: Yes

Loan Programs:

3, 5, 7 and 10 year fixed rate up to 30 year amortization (no balloon)
15 year fixed rate, fully amortizing
Interest only structures available

Benefits:

All borrowing entities acceptable; No escrows for replacement reserves; Current rent roll used for cash flow; Only 1.20 debt coverage required; Low processing and closing costs;

First Commercial Mortgage provides this unique loan program for multifamily properties. It is called "Flex" because of the many choices borrowers have to tailor the loan to their needs. The program has closed over $2 billion since its inception. Call today to learn how this exciting multifamily loan can be beneficial to your property.

PROGRAM DETAILS