Apartment Lender: Albuquerque
Since April of 2000, Caffrey & Company LLC has been helping real estate investors nationwide find the best loan product from Apartment Lender for Albuquerque. Call for great rates for an apartment building loan in Albuquerque, New Mexico. Caffrey & Company LLC has a special focus in providing loan products for Albuquerque Multifamily properties. The most attractive, non-recourse loan terms start at $1,000,000 for multifamily properties. Therefore, if you are looking for low interest rates, a non-recourse loan up to 80% of value (Over $6 million leverage up to 83% to 85% is available), you are at the right place. We can provide a free loan quote in 24 hours.
Loan Underwriting for Apartment Lender in Albuquerque:
Each loan product has unique underwriting requirements. Above all, how the loan data is presented to the lenders can have a negative or positive impact on pricing and loan proceeds. We offer this expert loan underwriting for Albuquerque apartment building loans to help achieve the best pricing and loan terms for commercial real estate investment. We encourage our clients to submit key property level data for a free loan underwriting review. This initial loan underwriting normally takes less than one business day for us to respond with several apartment loan options for you to consider. Here is a short list of property level data that would aid in providing a loan quote:
Required Underwriting information needed for an Apartment Lender: Albuquerque :
- Last two years and Year-To-Date detailed Profit and Loss statements (in addition a trailing 12-month P&L is best if available) on the apartment complex.
- Current Rent Roll
- Brief narrative description of the property.
- If available a few electronic photos. Or a copy of the real estate agent’s marketing package.
- What is the purpose of the loan? Acquisition, Refinance, cash out, re-position the property (renovations).
Next we will need to know your objective, how much do you wish to borrower on the apartment complex? Is this a long term investment or short term investment? In other words outline your loan request.
We understand the financing of an apartment complex is a very important component of the investment. Therefore, we encourage our client to send us details on the property before finalizing the purchase and sale contract for an indication of the type of loan that might be available to a particular property.
Fixed Rate Loan Terms are Available from Apartment Lenders for the Albuquerque Market:
Loan terms are available from 3 years up to 35 years (40 years for new construction on loans over $5 million). The loan products we work with include lenders for Fannie Mae, Freddie Mac, HUD, and CMBS. The Apartment buildings can be Garden Style, High Rise, Age Restricted, Student Housing, Section 8 Tenants, and subsidized properties. There must be at least 5 units. If you have several buildings, all with five or more apartment units that you wish to place under one loan (minimum $2 million), the buildings should be within 3 to 5 miles of the other properties for the best loan terms.
How long will it take to close the Loan?
The closing process normally takes between 45 and 55 days to close the loan. Closing costs vary between loan products. Before you put any funds out, we will provide a detailed estimate of the anticipated closing costs. At this stage, you will know the loan product, the loan terms, and the anticipated closing costs to allow you to make an informed decision before moving forward.
On our website, you can read about specific loan products. Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS), and other loan products. Want more details and sample interest rates for an apartment? Check out Interest Rates for Apartment Loans also on our website: Apartment Loan Interest Rates.
Keep Caffrey & Company in mind when searching for a New Mexico lender for apartment loans. Have a question. Please call: Mike Caffrey (913) 402-7077 or email: Mike@CaffreyLoans.com
On our website, you can read about specific loan products. Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS) and other loan products. Want more details and sample interest rates for an apartment check out Interest Rates for Apartment Loans also on our website: Apartment Loan Interest Rates.
Keep Caffrey & Company in mind, we will try to place the best loan for your multifamily investment when searching for a New Mexico lender for apartment loans. Have a question please call: Mike Caffrey (913) 402-7077 or email: Mike@CaffreyLoans.com.
On our web site you can read about specific loan products: www.caffreyloans.com/loan-products, offered by Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS) and other loan products. Want more details on sample interest rates for apartment check out Interest Rates for Apartment Loans also on our web site: www.caffreyloans.com/apartment-loans.
Have a question please contact
Mike Caffrey
Telephone: (913) 402-7077
Mike@CaffreyLoans.com
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