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Buying Apartment Properties

Important Borrower Strengths, Part 1

Published January 14, 2012

Prior to 2008, which we could refer to as the “good old days,” it was so much easier to qualify for a multifamily loan. Now don’t get discouraged, apartment loans are being done every day. It’s just that the loan standards for multifamily financing have become more demanding. And the key is that the borrower’s strengths are now as important, if not more important, than the required strengths for the property.

Important Borrower Strengths, Part 2

Published January 19, 2012 

Last week we covered part one of “The Borrowers Strengths Are Most Important to Qualify for a Multifamily Loan.” In getting multifamily financing, we shared five strengths needed to get your apartment loan. They are being strong in credit scores, liquidity, net worth, income, and a lender may require that you have multifamily experience (ownership of a multifamily complex of 5 or more units) to get an apartment loan.

Commercial vs. Residential Loans

Published January 28, 2012

Commercial loans have historically been made foremost to the property, whereas residential loans are made primarily to the borrower. For a commercial loan, the net operating income of the property is foremost in the commercial lender’s mind, then the condition and location of the property. However, since the recession started, the quality of the borrower is just as important as the merits of the property.

Important Borrower Strengths, Part 3

Published January 28, 2012

The last two weeks, we covered parts one and two of “The Borrowers Strengths Are Most Important to Qualify for an Apartment Loan.” In getting multifamily financing, we shared five strengths needed to get your apartment loan. They are being strong in credit scores, liquidity, net-worth, income, and a lender may require that you have multifamily experience (ownership of a multifamily complex of 5 or more units) to get an apartment loan.

Commercial Loans & 30-Year Fixed Rates

Published February 4, 2012

In 1933, in the aftermath of the Great Depression, President Franklin D. Roosevelt established, with Congress, The Home Owners Mortgage Act by selling government bonds to lenders. The purpose was to help remedy high foreclosure rates and to make it possible for more people to own their own homes. It was mandated that these loans had to be fixed for 20 to 25 years and be fully amortizing (term and amortization match). Eventually this was pushed up to 30 years, with the idea that most people would work for 30 years and then retire with a paid-off home.

Important Borrower Strengths, Part 4

Published February 4, 2012

The last two weeks, we covered part one through three of “The Borrowers Strengths are Most Important to Qualify for an Apartment Loan.” In getting an apartment loan, we covered strengths needed. They are being strong in credit scores, liquidity, net worth, and a lender may require that you have multifamily experience (ownership of a multifamily complex of five or more units) to get an apartment loan.

Non-Bank Sources of Commercial Loans

Published February 11, 2012

If you have recently been turned down by your bank for a commercial real estate loan, don’t take it personally. Many banks today are simply not making commercial real estate loans to anyone. In most cases this is not because they do not have the money, but because they already have too much commercial real estate on their books, or because they want to play it safe and make less risky loans.

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