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Interim Multifamily Financing and Apartment Loans

Interim Multifamily Financing and Apartment Loans

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It all starts with your information request. Since every situation is unique, we make sure to directly focus on and understand our customer’s individual needs. After submitting your request, within 24 hours we will reach out to you to discuss your commercial loan options. Since 1996, our loans have helped more than 50,000 businesses stay current with what they want from a commercial lender.

It all starts with your information request. Since every situation is unique, we make sure to directly focus on and understand our customer’s individual needs. After submitting your request, within 24 hours we will reach out to you to discuss your commercial loan options. Since 1996, our loans have helped more than 50,000 customers stay current with what they want from a commercial lender.

If an interim loan doesn’t meet your needs and situation, consider:

While every multifamily property owner would love to take out a straight-forward conventional loan, many traditional banks reject applications when the property is undergoing change. Builders and remodelers are now turning to stop-gap measures such as interim loans to keep construction on schedule. These short-term loans can provide owners and builders with the breathing room to make the capital improvements that gets the income flowing again! Apply today for a bridge or construction loan to keep your project on track!

Bridge Loans for Multifamily Properties

First Financial offers apartment building loans that are bridge loans. We use the equity from your current property to finance a short-term loan for a new apartment complex. While their terms are limited to one year or less, these temporary loans enable you to get cash immediately. These types of loans are great for those aiming to upgrade from a smaller apartment building to a larger one. If you simply don’t have the cash available to make a down payment on a new building, but you haven’t yet sold the smaller building yet, the bridge loan gets you the new property.  

Bridge Loans for Small Apartment Buildings:

This loan amount usually doesn’t exceed $5 million, and the loan term is about 12 months with an amortization interest.

Bridge Loans for Mid-Large Apartment Buildings:

These loan amounts tend to be up to $30 million, and the loan can be up to 3 years with amortized interest.

Construction Loans for Multifamily Properties

Lately, increased regulations governing the multifamily construction loans as well as the rising cost of labor and land has made securing a construction loan difficult. At First Financial, though, we can maneuver you through the process with ease, and secure you the funds necessary to build or remodel the apartment complex you’ve always wanted.

A+ Rated First Financial Finesses Your Interim Apartment Building Loan

If you need a reliable institution help you realize your real estate investment dreams, First Financial is here for you. We walk you through the complicated process, and secure the necessary funding to purchase your apartment building. Some of the perks of securing your apartment loan through First Financial include:

  • Amortizations from 30 years
  • High Loan-to-Values Percentages
  • Fixed Rates from less than 4%
  • Quick closings (45 days)
  • 24/7 Loan Officer Customer Service Assistance
  • Competitive Fees
  • Banking-level Security
  • Simple application process

If you‘re not sure if you qualify for one of our interim apartment building loans, or if you want to find out more about First Financial’s multi-family financing perks, contact us today.

Trends in construction and bridge loans:

High demand for affordable housing is driving multifamily property investment. This trend is not just limited to certain regions – it’s nationwide.

Increased competition in this sector has resulted in traditional banks and lending institutions to double down on the basics. They’ve streamlined their loan approval process and focused more on the individual needs of the client with the goal of providing excellent customer service. Regional banks have become the most willing to finance these high risk bridge loans as they are most familiar with the housing market in the area and feel more comfortable. A new administration, interest rate hikes and a stock market at an all time high as some fearing an inevitable correction. However, due to the very large volume of loan applications in the housing market and continued investment indicates that demand is high enough to sustain this growth.

 

Interim apartment loans from First Financial provide the space to upgrade your properties when demand is at an all-time high. We take a different approach to lending by focusing on the client first and making what can be a complicated application process as simple as can be. We further separate ourselves from our competitors by offering competitive rates, high loan to value percentages and quick closings. Apply today and see for yourself how First Financial helps turn you into a successful real estate investor.


First Financial

First Financial ® Corporate Headquarters 2850 Womble Road Suite 100-604 San Diego, CA 92106

Client Service Center: Main: 1-800-315-7791 Fax: 1-800-215-0217 (Monday–Friday 5:00am–6:00pm Pacific or 8:00am–9:00pm Eastern)

Merchant Services / High Risk Merchant Accounts: 1-800-950-0212 Fax: 1-800-215-0217

 

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