Apartment Loan in

Washington DC

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Apartment Loan in Washington DC:

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 Washington, DC. Caffrey & Company LLC has a special focus in Washington, DC 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 Arlington and Alexandria.

Let’s look into the Washington DC multifamily market as of mid-year 2024.

The Washington, D.C. metro area is experiencing strong demand trends, with the central business district (CBD) posting the highest net absorption of rentals among major metros. Despite the delivery of over 17,000 units in the last three years, CBD vacancy remains lower than it was three years ago. Strategic concessions have aided leasing, and occupied stock in the CBD grew by 4.2 percent over the last year. Additionally, job growth hubs such as Hagerstown, Maryland, and Central D.C. are expected to see new industrial expansions and large-scale office move-ins, which will further tighten vacancies and increase demand for rentals.

In terms of construction, stock growth in the metro area is expected to continue at a 2.0 percent pace, with the District itself and Northern Virginia each slated to account for roughly 5,000 new units. Marketwide vacancy is projected to remain at 5.3 percent, 30 basis points lower than the cyclical peak from March 2021. Rent growth momentum is expected to continue, with the local pace lifting the metric to $2,172 per month at year-end. Overall job growth is slowing relative to last year, but office-using fields are beginning to regain momentum, with companies expected to add 2,000 jobs on the net after a loss of 9,600 in 2023.

 

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 Washington, DC.  Therefore, this will help to achieve the best pricing and loan terms for your commercial real estate investment.

Free Loan Quote for Multifamily loan in Washington DC:

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 Washington, DC 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 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 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 Washington, DC.  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.

attracted to the demographic strength of the market which has driven the wave of Class-A development, particularly in evolving and emerging submarkets. Despite heightened leasing competition, rent growth remains steady with some operators reporting particularly strong growth throughout the metropolitan area.

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 Washington DC 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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