Apartments have proven to be a nearly recession-proof asset class, and more borrowers than ever are looking for financing. Despite the availability of capital on the market, not all programs meet each borrower’s unique needs. ReadyCap delivers flexible terms and quick closings on apartment loans, which you are unlikely to find anywhere else.
Available in major markets nationwide, our apartment loans from $1,000,000 to $7,500,000 cover 5+ unit multifamily properties. ReadyCap's apartment financing is designed specifically to exceed the expectations of the experienced borrower.
- Leverage up to 80% of appraised value in top and standard markets
- Leverage up to 70% of appraised value in small and very small markets (75% of acquisitions)
- Purchase, refinance, cash out
- Step down prepay, yield maintenance
- Min 1.20x (UW NOI) top market, 1.25x standard market, 1.30x small market, 1.40x very small market
- Quick closings
The advantages of apartment loans from ReadyCap include:
- Stabilized rates and terms
- Non-recourse available
- Hold-back and earn-outs
- Foreign national borrowers
- No minimum FICO in Tier 1 Markets
- Up to 10-year fixed terms
- Common-sense underwriting and flexibility
We take into consideration all factors of the deal, and pride ourselves on delivering five-star, concierge-like service, with swift closings. Download our Commercial Loan Product Sheet, or give us a call today: 888-354-0822.