Conventional or Wholesale Apartment Loans by CLD
A portfolio or conventional loan is a loan that is made by a bank or lender that does not get sold to the secondary market i.e. Fannie Mae and Freddie Mac nor it gets packaged in a loan pool and sold as a bond in capital markets.
Conventional loans are typically made by banks and some credit unions. Because they don’t sell the loan off to Freddie or Fannie, the lender can create its own lending guidelines making this product more flexible. These type of loans usually allow cash out, offer a higher leverage point, and have less restrictions. One draw back is that the bank will usually require personal guarantees from the Principals owning 20% or more of the property and would usually ask for a depository relationship from the borrower.
Commercial Loan Direct currently offers two types of conventional loans:
Apartment Loans - Small Conventional Multifamily Mortgage
Commercial Loan Direct offers a very competitive and flexible multifamily wholesale loan program. This program is designed for Multifamily - Apartment buildings having 5 or more units and is available nationwide.
- Loan Amount: $1 Million to $5 Million Loan
- Terms - fixed rate: 2, 3, 4, 5, 6, 7 and 8 Year Loan Terms Available for Fixed Rate Products.
- Terms - adjustable rate: Maximum 5 Years
- Amortization: 20, 25, and 30 years
- Prepayment: Multiple options
- Loan to Value Ratios: 75%
- Assumable
- Recourse: Yes
- Property Types: Multifamily - Apartment buildings having 5 or more units
- Availability: Nationwide
Get a free small wholesale apartment loan quote today
Apartment Loans - Mid-Balance Wholesale Multifamily Mortgages
Commercial Loan Direct offers a very competitive and flexible multifamily wholesale loan program. This program is designed for Multifamily - Apartment buildings having 5 or more units and is available nationwide.
- Loan Amount: $5 Million to $10 Million Loan
- Terms - fixed rate: 2, 3, 4, 5, 6, 7 and 8 Year Loan Terms Available for Fixed Rate Products.
- Terms - adjustable rate: Maximum 5 Years
- Amortization: 20, 25, and 30 years
- Prepayment: Multiple options
- Loan to Value Ratios: 75%
- Assumable
- Recourse: Yes
- Property Types: Multifamily - Apartment buildings having 5 or more units
- Availability: Nationwide
Get a free Mid-Balance wholesale apartment loan quote today