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.
Is the Orlando Multifamily a good place to invest and for lenders to make a loan? Let’s see read the following Orlando Apartment market information as of the second quarter of 2024:
In Orlando, the young renter population is on the rise as construction activity begins to ease. Leasing activity has picked up, coinciding with the peak in construction. The net absorption in Orlando hit its highest quarterly total since 2021 in the first quarter of the year, signaling positive momentum for the market. Additionally, the multifamily construction appears to be hitting its cyclical peak as project starts have slowed, resulting in a smaller pipeline delivering in 2025 and 2026. Renter demand is being driven by the age 20 to 34 cohort, and the city’s second-lowest average effective rent among major Florida markets, coupled with faster-growing household incomes than the national rate, are likely to attract younger individuals to the metro, supporting standout growth for this demographic.
Looking ahead to 2024, Orlando expects more new units this year than any other major Florida market, with approximately 3.8 percent stock expansion. However, around two-thirds of the new apartments are expected to come online in three submarkets. The average effective rent in Orlando is projected to slide for a second straight year, reaching $1,742 per month by December, which is a 32 percent increase from 2019. Employment is expected to expand by a smaller margin of 1.4 percent during 2024, with growth being driven by leisure, hospitality, education, and health services-related hiring.
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.
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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