Roc Capital Makes Multifamily Term Loans Easy
Multifamily Term Terms
5-8 Unit Residential Properties
$250,000 - $3,000,000
30-Year Fixed Rate Mortgage, OR 5/6, 7/6, 10/6 hybrid ARMs (Partial IO or Fully Amortizing)
Full Recourse or Non Recourse with bad-boy carveouts and Pledge of Equity of Borrowing Entity
Maximum Loan to Cost
If owned less than 3 months, 80% of Total Cost Basis.
If owned between 3 and 6 months, additional 5% haircut on Max Eligible LTV
Maximum Loan to As-Is Value (subject to minimum FICO)
Purchase/Rate-Term Refinance: 75%
Cashout Refinance: 75%
Minimum Debt Service Coverage Ratio
1.20x - 1.40x, based on subject market classification (Top, Standard, Small, Very Small).
Minimum Guarantor FICO
Mid-Score of 680
Minimum Occupancy Rate of 90% by Unit Count
- Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
- Unleased Units: 90% of Market Rent (Purchase Loans only)
Attractive alternative to traditional bank and agency financing
Common sense underwriting
No tax returns or borrower income information required, up to 75% LTV with cashout, easy step down prepayment penalty options.