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- Lucas Group (copy 02)
Lucas Group (copy 02)
New Multifamily Construction Refi At 2.95%
You No Longer Need To Wait 3 Years To Qualify For HUD Rates On Multifamily!
It used to be that multifamily buildings needed 3 years of seasoning before they could qualify for HUD loans. At the beginning of 2020, this no longer stayed the case. With the changes in rules, multifamily construction projects that are recently completed can get these amazing rates.They're able to lend at rates starting at 2.95% on a 35-year amortization schedule, and they'll go up to 80% LTV on recently completed multifamily apartment complexes nationwide.So, if you want to lock super low rate financing on your newly finished apartment complex we should chat.Check out their criteria below:
Deal Size:
$8M minimum - No Max
Leverage:
Up to 80% LTV
Rate:
Starts at 2.95%
Mortgage Insurance + .25 - .6%
1 point lender origination fee
Less if above $40-50M
Term: 35 Years - Fixed
Recourse:
Non-Recourse
Property Type:
Multifamily
Assumable for 0.5pt
Geography: Nationwide
If you have a deal that fits these criteria then send us an email and let’s start chatting today!
P.S. If you're brand new to the EN Capital newsletter; each week we promote a new capital source for a variety of commercial real estate properties. So if the above lender is not relative to you, the chances are high that we'll have the perfect capital source for you soon.P.P.S. If you have a commercial real estate deal, unrelated to the above, that needs capital right now reach out to us and let's chat!
Be sure to connect with EN Capital on Linkedin. and visit our website here.
Connect with EN Capital President, Nate Whigham on Linkedin Here
Connect with EN Capital Associate, Justin Ashcraft on Linkedin Here
Nathan WhighamPresidentCA DRE Broker License: 01793655EN Capital Contact Info:www.encapital.com[email protected]Justin Direct Line: 323-521-4766