Cincinnati

Apartment Loan

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Loans for Apartments:

Since April of 2000 Caffrey & Company LLC has been helping real estate investors nationwide find the best loan product for commercial real estate investment properties.  Call for great rates for multifamily loans in Cincinnati, Ohio.  Caffrey & Company LLC has a special focus in providing a Cincinnati apartment loan.  The most attractive, non-recourse loan terms start at $1,000,000 for multifamily property loans.  Therefore, if you are looking for low interest rates, a non-recourse loan up to 80% of value (Over $5 million leverage up to 83% to 85% is available) for you Apartment Building Loan you are at the right place.

Apartment Building Loan Underwriting:

Each Apartment building 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 apartment building loans in Cincinnati.  Therefore this will 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:

  • 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, reposition 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 for Multifamily Properties:

Loan terms are available from 3-years up to 35-years (40-years for new construction on loans over $5 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 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.

Cincinnati Multifamily by the numbers:

Average price for units 2019 $70,301 in 2020 $64,422 a decrease of 8.4%.  The Cincinnati Apartment Market also saw a widening of Cap Rates from 6.8% in 2019 to 7.6% in 2020.  The market was hit hard from the Pandemic with 2019 employment of 1,131,500 and a decrease of 6.4% to 1,059,200 in 2020 and a 2.5% rebound prdicted brining the employment to 1,085,900 by the end of 2021.  Tne Greater Cincinnati Metro did see postive net population growth from 2,204,000 in 2019, 2,217,400 in 2020 and forecast to 2,230,400 by the end of 2021.  Medium Household Income came in at $66,367 in 2019, $68,542 in 2020 and a slight decrease expected for the balance of 2021 to $68,421.   Average occupancy for Multifamily Units in Cincinnati for the first quarter of 2021 95.8%, Effective Rents up 1.6% to $1,034.

In conclusion 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 apartment check out Interest Rates for Apartment Loans also on our web site:   Apartment Loan Interest Rates.

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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