Apartment Loan Store

(503) 376-7303 Nationwide Since 1997

 

Everyday 8am to 9pm Eastern

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Loans $750,000 to $500,000,000
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Construction Loans/Financing - Apartment/Multifamily in Arlington, Texas

Construction Loans/Financing - Apartment/Multifamily

7 Construction Apartment Loan Programs – over 100 Direct Sources

503-376-7303

With 7 Construction Apartment Loan programs to choose from, and over 100 direct lending sources, Apartment Loan Store will match you with the Multifamily construction loan program that is right for you.  Call one of our friendly Multifamily Construction Loan Specialists to determine which of the programs below is right for your development.

Apartment Loan Store has specialized in commercial construction lending since 1997.  We do construction loans for:  Apartment Buildings, Senior Housing/55 and older Communities, Student Housing, and Independent/Assisted Living Senior Housing.

 

Do You Qualify for a Commercial Construction Loan?

 

Apartment/Multifamily Construction Loan Programs (5 + Units)

1. FHA New Construction or Major Rehabilitation – 85% - 87% of Cost, Non-Recourse Construction and Perm Loan

  • Minimum Loan: $5,000,000   Maximum Loan $25M and above

  • 85% of Cost for Market Rate Developments, 87% of Cost for Affordable Housing

  • Construction Loan rolls over seamlessly to 40 year fixed rate perm loan

  • Perm Loan Term: 40 Years, Amortization 40 years

  • Exceptionally Low 40 year fixed rate

  • DSCR: 1.176

  • 18 months after completion for absorbtion/stabilization

  • Perm loan rate is locked prior to construction

  • Non-Recourse construction and perm loan

  • No Tax Returns Required

  • FF&E may be financed

  • Draws (average bi-monthly)

  • No minimum Net Worth Requirement

  • Minimal Post Closing Cash Requirement

  • Good Credit Required

 

2. Private Institutional Construction Loan – High LTC. Seamless Roll Over to Perm

  • Minimum Loan $4,000,000, Maximum Loan $50,000,000

  • Loan to Cost: 80%

  • 1 month Libor plus 4.00% to 5.00%  (interest only)

  • Subordinate Mezzanine debt may be allowed up to 90%  CLTC

  • Term up to 36 months

  • DSCR: 1.25

  • Recourse

  • Mini perm not needed

  • Roll over to Fannie Mae or Freddie Mac perm loan

  • Draws bi-monthly to monthly

  • No Pre-payment Penalty

  • Net Worth required equal to the size of the loan for all key principals combined

  • Post closing liquidity requirement:  10% of the loan amount

  • Good Credit Required

 

3. National Bank Program – Lowest Construction Loan Rates, Seamless Transition to Perm Loan

  • Minimum Loan $10,000,000   Maximum Loan $100,000,000

  • Up to 70% Loan to Cost

  • 1 month libor plus 3.00% to 4.00% interest rate

  • Subordinate debt mezzanine loan allowed up to 80% CLTC

  • DSCR: 1.25

  • Term 24 – 36 months

  • Recourse

  • No mini perm needed

  • Roll over to Non-Recourse Fannie Mae or Freddie Mac Perm Loan

  • Draws bi-monthly to monthly

  • Net Worth requirement 1.5 times the loan amount

  • Post closing liquidity requirement equal to 15% - 20% of the loan amount

  • Excellent Credit Required

 

4. Regional Bank Program –  Loan tailored to your needs, great service

  • Minimum Loan $4,000,000,  Maximum Loan: $18,000,000

  • Up to 75% of Cost

  • No subordinate debt allowed

  • Term 24 months

  • 1 month Libor plus 4.00% or prime rate plus 1.00% to 2.00% Interest Rate (Interest only payments)

  • DSCR: 1.25

  • Recourse

  • Usually no mini-perm needed. 

  • Roll over to perm loan of your choise

  • Draws weekly to bi-weekly

  • Net Worth Requirement equal to greater than the loan size

  • Post Closing Liquidity Requirement equal 15% or greater than the loan amount

  • Excellent Credit

 

5. Community Bank Program – Best in Service, Local Construction Monitoring

  • Minimum Loan: $2,000,000   Maximum Loan:  $12,000,000

  • Loan to Cost up to 75%

  • No subordinate debt allowed

  • Term 18 months

  • Prime pluse 1.50% to 2.00% rate (interest only payments)

  • DSCR:  1.25%

  • Recourse

  • Mini-perm available if need for absorption and stabilization

  • Roll over to perm loan of your choice

  • 48 hour draws available

  • No prepayment penalty

  • Net Worth Requirement equal to 50% to 100% of the loan amount

  • Post Closing Liquidity requirement equal to 10% of the loan amount

  • Good Credit Required

 

6. Life Company Program –  Very Low Rates, Roll Over to Long Fixed Rate Perm

  • Minimum Loan $15,000,000, No Maximum

  • Loan to Cost up to 70%

  • Subordinate Mezzanine debt may be allowed up to 80% CLTC

  • Term 36 months

  • 1 month Libor plus 2.75% to 3.50%

  • DSCR:  1.20

  • Non-recourse

  • Mini-perm not needed

  • Roll over to very low rate 10, 15, 20 or 25 year fixed rate perm loan

  • Bi-monthly to monthly draws

  • Net Worth Requirement equal to 1.5 to 2 times loan amount

  • Post Closing Liquidity Requirement equal to 20% of the loan amount or greater

  • Excellent Credit Required

 

7. Hard Money Apartment/Multifamily Construction Loan – Easy to Qualify,Fast, Low Documentation, low hassle, Poor Credit Ok

  • Minimum Loan $1,500,000  Maximum Loan $25,000,000

  • Loan to Cost: 75% to 85%

  • Subordinate debt may be allowed

  • Term: 12 – 18 months with extensions

  • Rate: 7.00% to 12.00% interest only

  • Weekly to bi-monthly draws

  • No Net Worth to Loan Ratio

  • Very low Post Closing Liquidity required

  • Poor Credit Ok 

About the Arlington, Texas Real-Estate Market

$53,055 is the median annual household income in the city of Arlington, Texas.

$197,800 is the home value in the city of Arlington, Texas. 9.3 percent is the amount the worth of houses in Arlington has increased in the last year. It has been forecasted that in the following year, the home value will increase 9.2 percent.

This kind of increase in the value of homes makes it very difficult for many of those who wish to purchase a home to enter the housing market. This is especially so for young people new to the work force and who do not have a big income or much savings.

The list cost median is $121 In Arlington, per square foot. The Metro Area of Dallas-Fort Worth-Arlington has a higher per square foot list cost median of $137.

For houses listed presently in Arlington, $240,000 is the cost median. $198,800 is the cost median for homes that have already been sold.

In Arlington, $1,550 is the rent cost median. Dallas-Fort Worth-Arlington Metro Area has a rent cost median which is higher. It’s $1,695.

Pertaining to the real estate economy, the foreclosure rate is important. The higher the foreclosure rate, the lower the home value. The lower the foreclosure rate, the higher the home value.

For each 10,000 homes in the city of Arlington, 0.1 percent of homes go through foreclosure. The Metro Area of Dallas-Fort Worth-Arlington has higher foreclosure rate of 0.5 percent.

1.4 percent is the percentage of mortgage delinquencies in Arlington, TX. The nation has a lower mortgage delinquency rate of 1.1 percent.

The recession of 2008 had very negative consequences for the economy of the real estate market as well as the economy of the United States. One of the consequences was that the home value dropped more than 20% in the United States.

And this has caused a lot of homeowners to presently be underwater in regards to their mortgage. Being underwater on a mortgage means the homeowner has a bigger mortgage debt than the value of their home.

In Arlington, 3.9 percent of home owners are now experiencing being underwater on their mortgage. The Dallas-Fort Worth-Arlington Metro Area has a higher underwater rate which is 4.4 percent.

Being underwater on a mortgage is a very negative experience. This especially holds true for families who are having a hard time paying bills, but yet need to sell their homes.

The problem is that being underwater means that the homeowner is likely going to have to pay the bank money in order to sell their home. On top of that there are expenses for selling a home, which could be pretty steep. And there is also the cost of moving.

Moving on to commercial real estate, we are going to look a little at the industrial building market in Dallas-Fort Worth in which Arlington is part of.

Importantly, the industrial building market in Dallas-Fort Worth is like a Ferrari firing on all cylinders. There is nothing that indicates a slowdown.

In the Dallas-Fort Worth area, in the third quarter, 19 million square feet of warehouse space was under construction. This is such a large amount of space that it equals around 12 skyscrapers located in downtown Dallas.

The pipeline of total current warehouse construction is so large, that it is greater than the combined remainder of Dallas-Fort Worth’s commercial construction.

Cintas, a uniform company and Leer, a vehicle accessory firm in the industrial District of the Great Southwest as well as VistaPrint that is located in southern Dallas, have some of the biggest leases of D-FW warehouse real estate in the third quarter of 2018.

 

 

Other Cities in Texas served by Apartment Loan Store

  • Houston
  • San Antonio
  • Dallas
  • Austin
  • Fort Worth
  • El Paso
  • Arlington
  • Corpus Christi
  • Plano
  • Laredo
  • Lubbock
  • Garland
  • Irving
  • Amarillo
  • Grand Prairie
  • Brownsville
  • Pasadena
  • Mesquite
  • McKinney
  • McAllen
  • Killeen
  • Waco
  • Carrollton
  • Beaumont
  • Abilene
  • Frisco
  • Denton
  • Midland
  • Wichita Falls
  • Odessa
  • Round Rock
  • Richardson
  • Tyler
  • Lewisville
  • College Station
  • The Woodlands
  • San Angelo
  • Pearland
  • Allen
  • League
  • Longview
  • Sugar Land
  • Edinburg
  • Mission
  • Bryan
  • Baytown
  • Pharr
  • Missouri
  • Temple
  • Atascocita
  • Harlingen
  • Flower Mound
  • North Richland Hills
  • Victoria
  • New Braunfels
  • Mansfield
  • Conroe
  • Rowlett
  • Spring
  • Port Arthur
  • Euless
  • DeSoto
  • Cedar Park
  • Galveston
  • Georgetown
  • Bedford
  • Pflugerville
  • Grapevine
  • Texas
  • Cedar Hill
  • San Marcos
  • Haltom
  • Wylie
  • Keller
  • Coppell
  • Huntsville
  • Duncanville
  • Sherman
  • Channelview
  • Rockwall
  • Hurst
  • Burleson
  • Mission Bend
  • Texarkana
  • Lancaster
  • The Colony
  • Friendswood
  • Weslaco
  • Del Rio
  • Lufkin
  • San Juan
  • La Porte
  • Nacogdoches
  • Copperas Cove
  • Socorro
  • Deer Park
  • Schertz
  • Rosenberg
  • Waxahachie
  • Fort Hood
  • Cleburne
  • Farmers Branch
  • Kyle
  • Big Spring
  • Lake Jackson
  • Harker Heights
  • Southlake
  • Leander
  • Eagle Pass
  • Kingsville
  • Little Elm
  • Greenville
  • Weatherford
  • Seguin
  • Paris
  • San Benito
  • Alvin
  • Corsicana
  • Balch Springs
  • Marshall
  • Watauga
  • University Park
  • Cloverleaf
  • Colleyville
  • West Odessa
  • Denison
  • Kerrville
  • Plainview
  • Brushy Creek
  • Canyon Lake
  • Benbrook
  • Sachse