Nonbank Clearing

  • Compare bank and private lender options
  • Internal underwriting to quickly size Multifamily loans
  • Navigate different terms between lenders
  • We send multifamily loans to banks for best pricing, and to private lenders for no doc or higher leverage

Key Parameters

 

Multifamily Bank Loan (Term)

 
  • 20-25 year amo, 5 year fixed rate
  • 1.20 min DSCR using bank metrics (subtract for vacancy and operating expenses)
  • Full doc – 2 years personal and business tax returns, income and asset verification
  • 70-75 LTV purchase
  • 65-70 LTV refi
  • Real bank

Multifamily DSCR Loan

 
  • 30 year amo, 30 year fixed
  • 1.10 min DSCR
  • No doc or light doc
  • 75 LTV purchase
  • 70-75 LTV refi
  • Private lender

Multifamily Private Bridge Loan

 
  • 75% of purchase and 100% of rehab up to 80 LTC total
  • Experience required
  • Private lender
 

Nonbank Clearing Advantages

 
  • Compare bank and private lender options
  • Internal underwriting to quickly size multifamily loans
  • Terms vary more for multifamily, so there is more value in having competitive bids
Independence Hall