Apartment Loan in

Orlando

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Apartment Loan in Orlando:

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 Orlando. Caffrey & Company LLC has a special focus in Orlando 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 Orlando suburbs including Kissimmee and Sanford.

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 Orlando.  Therefore, this will help to achieve the best pricing and loan terms for your multifamily building or 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 Orlando 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 Orlando.  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.

Orlando Multifamily Market Report 4th Quarter 2020:

During the pandemic, Orlando witnessed a loss of 232,600 jobs with unemployment sitting at 21.4%.  Throughout 2020 as firms began to reopen there was a bit of a resurgence with employment eventually settling around 9.4%.  Orlando struggled to recover unemployment more than other areas due to the heavy reliance on tourism in the area.  Tourism plummeted during the pandemic and the hospitality and retail sectors have struggled to recover as travel and tourism has been one of the last aspects to return normalcy in the current pandemic.  However, the unemployment due to tourism is set to have less of an affect on the multifamily market than the other markets.  Professional and business services has seen with greatest growth with 71,200 jobs being filled during the third quarter of 2020.  Multifamily is set to benefit from that resurgence as residents will be in high demand for apartment and rental living.  The majority of construction in the multifamily sector is shifting outward from Central Orlando into more suburban areas with the most units going into Kissimmee.

By the numbers

In the third quarter, 1700 new units were completed with the Kissimmee and Osceola submarkets receiving most of the new supply.  By 2022, there are 16,000 new units scheduled to be completed.  Vacancy fell to 4.7 percent with net absorption of around 2,200 units.  Class A vacancy sits at 6 percent. Effective rent sits at $1,262 per month with Class A and C sitting at $1,469 and $959 per month, respectively.  Average sale price is down 2 percent with average cap rates in the area around 5 percent.

Growth is expected to continue in Orlando:

With the introduction of a high-speed rail service between Orlando and cities along the corridor to Miami coming on line in the next few years will help unit the west and east coasts of Florida.  Very significant infrastructure improvements have been completed with more planned which will aid in the continued growth.  Major investors continue to consider this area for its continued growth and further economic diversification.

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:   Multifamily Loan Interest Rates.

Keep Caffrey & Company in mind when searching for a Florida 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]
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