Multifamily Loans
Acquisition, Refinance, Cash-Out and Bridge Financing for Apartment Buildings and Mixed-Use Properties Nationwide. Have questions about financing? Call the CMAC Financing Assistant 24/7 at (917) 809-6595
Commercial Mortgage Acceptance Corp provides and arranges multifamily loans for investors purchasing, refinancing or repositioning apartment buildings with five or more units. Through direct lending and an extensive network of banks, institutional lenders, debt funds and private capital sources, CMAC structures financing for stabilized properties, value-add projects and properties in transition.
Multifamily loans are underwritten primarily on the property’s net operating income, so the building’s rent roll and operating history drive the loan. Whether you are acquiring your first apartment building, pulling cash out of a stabilized property or replacing a maturing loan, CMAC works with you from initial review through closing. Building from the ground up? See our Multifamily Construction Financing. Financing 1-4 unit rentals or a smaller apartment building loan under $1 million? See our DSCR Loans.
A multifamily loan is commercial real estate financing for residential properties with five or more units, such as apartment buildings, apartment complexes and mixed-use buildings with apartments. Properties with two to four units are typically financed with residential investment loans or DSCR loans.
Multifamily loans are underwritten primarily on the property’s net operating income, measured by the debt service coverage ratio, along with the loan-to-value, the property’s condition and occupancy, the local market, and the borrower’s experience, liquidity and credit.
CMAC provides and arranges acquisition loans, refinances and cash-out refinances, agency loans, bridge and value-add loans, and long-term permanent financing through direct lending and a network of banks, agency lenders, institutional lenders, debt funds and private capital sources.
CMAC multifamily loans start at $1,000,000 with no maximum loan amount. Maximum loan-to-value depends on the property’s debt service coverage ratio. Cash-out refinances are typically limited to 80% loan-to-value, and agency purchase loans can go as high as 90% loan-to-value. For multifamily loans under $1 million, CMAC offers financing through its DSCR loan program.
Yes. Bridge and value-add loans can finance properties in lease-up, with below-market rents or in need of renovation. These loans are typically refinanced into long-term permanent financing once the property stabilizes.
Yes. Owners of stabilized multifamily properties often refinance to pull out equity for renovations, new acquisitions or other investments. Cash-out refinances are typically limited to 80% of the property’s appraised value, depending on its debt service coverage ratio.
Yes. CMAC finances apartment buildings and mixed-use properties in all 50 states, from small apartment buildings to large apartment communities.
CMAC can close as soon as your loan documents are in and the third-party reports, such as the appraisal and environmental review, are complete. Bridge loans often close in a matter of weeks. CMAC works to keep every transaction moving efficiently from application through closing.
Whether you are buying an apartment building, refinancing a maturing loan or pulling equity out of a stabilized property, CMAC can help structure multifamily financing around your property’s income and your investment goals.
Commercial Mortgage Acceptance Corp
40 Wall Street, 28th Floor #2868, New York, NY 10005
212-537-9200
