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Apartment Loan in Dallas:

Since April of 2000 Caffrey & Company LLC has been helping real estate investor’s nationwide find the best loan product for commercial real estate investment properties. Call for great rates for an apartment loan in Dallas. Caffrey & Company LLC has a special focus in Dallas apartment loans.  The most attractive, non-recourse loans 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 $7 million leverage up to 85% is available) you are at the right place.  These specialized apartment loan products are available in all of the suburbs including:

Aledo, Annetta, Annetta North, Annetta South, Argyle, Arlington, Azle, Bartonville, Bedford, Benbrook, Blue Mound, Colleyville, Copper Canyon, Corinth, Corral City, Cross Roads, Crowley, Dalworthington Gardens, Double Oak, Edgecliff Village, Euless, Everman, Forest Hill, Haltom City, Haslet, Hudson Oaks, Hurst, Keller, Kennedale, Lake Dallas, Lake side, Lakewood Village, Lake Worth, Lincoln Park, Marshall Creek, North Richland Hills, Oakpoint, Pantego, Pelican Bay, Reno, Richland Hills, River Oaks, Roanoke, Saginaw, Sanctuary, Sansom Park, Shady Shores, Southlake, Trophy Club, Watauga, Weatherford, Westlake, Westover Hills and Westworth.

Multifamily Loan Underwriting:

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 an apartment building loans in Dallas.  Therefore, this will help to achieve the best pricing and loan terms for your commercial real estate investment.

Free Loan Quote:

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:

  • 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 understand your investment objectives.  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 apartment loan in Dallas loan request.

We understand the financing of an apartment complex is a very important component of your 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.  We can review and provide some up front loan options.

Fixed Rate Loan Terms are Available for Multifamily Properties:

Loan terms are available from 3-years up to 35-years (40-years for new construction on loans over $7 million).  The Apartment buildings can be Garden Style, High Rise, Age Restricted, Student Housing, Section 8 Tenants and subsidize 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 no problem, the buildings should be within 3 to 5-miles from the other properties for best loan terms.

How long will it take to close the Loan?

The closing process normally takes between 45 and 55 days to close an apartment building loan in Dallas.  Closing costs vary between loan products.  Before you reach for your checkbook  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.

Market projections for Dallas Fort Worth:

1Q2021 Dallas-Fort Worth Multifamily Market Report

Over the past ten years the Dallas/Fort Worth market has been one of the fastest growing metros in the country with 940,000 jobs being added during that span and six different business sectors growing by more than 30 percent.  This growth was attributed to a few different factors: lenient business policies, cost of living and quality of life considerations and a large talent pool.  Like the rest of the US, the metro was forced to shutdown during the pandemic and the area witnessed a loss of 410,000 jobs and unemployment numbers reached the double digits.  Luckily, the metro had an accelerated opening and by the end of the third quarter in 2020, 224,000 jobs had returned and the unemployment rate fell to 5.4%.  The market for apartments remains in a bit of predicament.  During the pandemic and the following months after the Texas reopened, most workers were able to operate remotely.  As a result, many workers moved away from the city into submarkets such as Mesquite and others around the outskirts of Dallas.  This migration to the suburbs attributed to the 11.4% increase in median home pricing with the median home price in the area being $306,300.  As the metro is expected to continue its population growth at the same steady rate, the rising home prices are going to increase the demand for apartments.  The Dallas/Fort worth apartment inventory has grown by 17.5% in the last five years, luckily demand in the area has grown proportionately causing vacancy to remain steady throughout that period.

By the numbers

In 2021, the Dallas/Fort Worth market is expected to recover all 81,800 positions lost in 2020 with 150,000 new jobs being created.  Apartment inventory is anticipated to increase by 3.8% with 32,140 new units being completed over 2021.  Supply is expected to slightly outpace demand as vacancy is anticipated to increase by 50 basis points to 6.2%.  Effective rent is expected to increase by 0.8% to $1,192 per month.  Average sales price per unit increased by just below 7 percent which was the lowest growth in the metro since 2012.  Class A assets witnessed the highest transaction velocity in the metro.

Growth expected to continue:

The market has seen strong apartment unit growth in the urban core and key suburbs such as Frisco and Farmers Branch.  The mid climate, growing job opportunities and relative affordability index will continue to attract new residents.

In conclusion you find details on several loan products by following these links: Freddie Mac, Fannie Mae, HUD/FHA, Commercial Mortgage Back Securities (CMBS) and other loan products.  Want more details and sample interest rates for apartment check out Interest Rates for Apartment Loans also on our web site:   Apartment Loan Interest Rates.

Keep Caffrey & Company in mind when searching for a Texas lender for apartment loans. Have a question please call:  Mike Caffrey (913) 402-7077 or email: [email protected]

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
[email protected]