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                           Multifamily New Construction Loan 


               Multifamily New Construction Loan Details:

  • 85% Loan-to-Cost

  • Interest-only construction loan that automatically converts to 40-year permanent financing

  • 40 Year Amortization

  • 40 Year Term (no balloon)

  • No maximum loan amount

  • Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield

  • “Developer’s Fee” of 10% of cost allowed to be used towards equity requirement

  • No personal liability (non-recourse)

  • Negotiable pre-payment terms

  • 1:20 Minimum Debt Service Coverage

  • This loan is always assumable

  • Third-party expenses and loan costs are financible

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