Multi Family 2-4 Unit Loans
For a Rate and Fees quote call
800-390-7536
Brokered Multi Family
2-4 Unit Loans
This program is designed for Borrowers who are constructing a 2-4 family residential Owner Occupied property. Non-Owner Occupied properties allowed. Please call for details.
General Guidelines*
- Self Build available
- Loan amounts from $95,000 to $5,000,000
- Loan amounts up to 75% of the appraised value. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
- Borrower must have a minimum of 25% to put down towards the land purchase/subject property acquisition
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Full and limited documentation programs available
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
*All rates and terms subject to change without notice
Rates and Fees
(Based on credit score, income, savings and LTV)
- Rates: Prime Rate plus 2.75% to 3.75%+
- Loan Fee: 1.50% to 2.00%+
- Application Fee: $295
- Fast Track Closing Fee: $1,250
- Underwriting Fee: $425
- Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)
To start the pre-approval process, download the Loan Submission Form above and include a completed 1003, Tri-Merge Credit Report and appraisal, if available.
