商业抵押贷款服务

银行

If you are looking to finance your apartment building or commercial real estate with your local bank, 你可能觉得没有理由使用中介.

但事实并非如此. 银行有自己的利基市场. 社区银行之间存在着深刻的差异, 信用合作社, 地区性银行, 和国家机构. 一些银行提供全额分期偿还的30年期贷款, 其他公司的摊销期限为20年或25年. Some lenders may cap/limit 利用 at 70% LTV whereas others will allow up to 80% LTV on some multi-family properties. 也许你更喜欢较短的提前支付期，因为你通常会再融资或出售/1031交换 每2 - 3年.

由于以上原因和更多, you will likely benefit from working with a mortgage/financing intermediary (like Realty Yield) that has a long list of banking relationships and options.  我们可以根据您的情况和需要为您购买最优惠的利率/条件的贷款.  

100万美元以下的公寓/多户贷款来源

One of the most underserved areas - and one in which securing loans is a challenge- apartment/commercial real estate loans from $500,000到100万美元.

这是因为它花费了贷款者大约相同数量的钱来产生500美元,000美元贷款变成了1000万美元贷款. 也, since most apartment/commercial loan originators are incentivized by dollar volume there is less motivation to pursue loans under $1 million, 尽管它可能加倍, 三倍, 或者四倍于他们的工作量.  伟德注册中心收益率有机会获得这种高需求的最佳贷款来源, 服务水平低下的金融/抵押贷款领域.  

人寿/保险公司

公寓物业, 寿险公司为房利美和房地美提供了另一种融资选择, 因为他们有更长的贷款期限和特殊的利率.

然而, 寿险公司在杠杆(LTV)方面竞争力较弱, 特别是在套现再融资方面. Life Companies are often the most competitive and viable option for larger balance ($10MM and up) commercial real estate loans for office buildings, 零售中心, 单租户零售和其他商业地产. 寿险公司通常关注最高级别/质量的资产, 因此，当涉及到批准融资/抵押贷款时，他们非常有选择性.

CMBS

CMBS贷款, 也被称为管道贷款, 是无追索权和提供低利率和相对较高的杠杆, 符合条件的房产ltv高达75%. (CMBS是“商业抵押支持证券”的缩写,” as these loans are pooled into securities and sold on the secondary market to investors). CMBS financing is often ideal for projects that are not a good fit for agency lenders like 房利美(Fannie Mae) or 房地美(Freddie Mac).

因为CMBS主要是基于资产的, 贷款人更有可能批准有信用或法律问题的借款人, 比如最近的破产. 这些贷款对于需要更快的结案程序的情况也是理想的, 与借款人相比，更少的繁文缛节和更关注财产收入.  CMBS贷款适用于大多数商业地产资产类别, 包括办公大楼, 零售中心, 公寓大楼, 酒店, 产业属性, 和更多的.  CMBS贷款可以为一些多户投资者提供显著的优势和利益.

注意:CMBS借款人应该理解这一点, 不像银行贷款, you will not be dealing directly with your lender after your loan has been securitized and sold to investors. 而不是, 您将与主服务程序一起工作, 专门管理(收集付款)的公司, 财产检查, 等.)管道贷款.

房利美(Fannie Mae)

当涉及到为多户房产融资时, 公寓, 学生住房, 经济适用房, 辅助生活, 卫生保健设施, 移动家庭公园和更多, 房利美通常提供最有竞争力的固定利率和浮动利率融资, (房地美可能除外).

然而, 排位赛是一个挑战, as 房利美(Fannie Mae) loans require very experienced borrowers with strong financial statements and rigorous property underwriting. 房利美(Fannie Mae) multifamily loans are particularly well suited for 经济适用房 financing and can fund 经济适用房 rehabilitation— especially when paired with the LIHTC (Low-Income Housing Tax Credit) program. 房利美(Fannie Mae) financing is also a good choice for financing properties previously under HUD legacy programs that are being converted to Section 8 housing under the Rental Assistance Demonstration (RAD) program.

房地美(Freddie Mac)

房地美(Freddie Mac) provides a diverse portfolio of multifamily loan products for both the acquisitions and recapitalizations of apartment communities.

在过去, 房利美(Fannie Mae) was the government sponsored agency of choice for higher balance multifamily lending.  然而, 为了在竞争加剧的贷款市场上变得更加激进, 房地美(Freddie Mac) released a small balance program in September 2014 to compete with 房利美(Fannie Mae). 和房利美一样，它对本金和房产有严格的承销准则. 但是一旦批准, 很少有多户贷款机构能够与之竞争, 寿险公司之外的大型平衡交易. 

HUD-Insured多户贷款

当涉及到建造、收购或再融资多户型房产时，美国财政部表示.S. Department of Housing and Urban Development (HUD) offers some of the best financing options on the market today.

胡德保险的多户贷款提供有竞争力的利率, 长条款, 高杠杆津贴, 完全摊销和无追索权. 此外，住房和城市发展部多户贷款是完全可以承担的(通过住房和城市发展部/联邦住房管理局的批准).  而住房和城市发展部的贷款对于所有类型的房产都是极好的, 包括市价公寓, 他们为经济实惠的房产提供额外的好处, 也是低收入住房税收抵免(LIHTCs)的好选择, housing located within Opportunity Zones and in conjunction with the Rental Assistance Demonstration (RAD) program, which allows certain properties under HUD legacy programs for 负担得起的 properties to convert their housing to the HUD Section 8 program. 然而, 尽管他们的好处, HUD multifamily loans do require a significant amount of paperwork and documentation-- which is why it's essential to have a trusted advisory team that can guide you through each step of the HUD multifamily application, 批准, 和关闭过程. 

辛苦钱

硬钱贷款和用于硬钱情况的私人资本在过去是罕见的. 然而, 随着市场的发展和资本的涨落, 现在可能会出现需要硬通货的情况.

The benefit to true hard money loans on commercial real estate is that the only underwritten component is the as-is value of the property. 这意味着快速关闭和高成本. 在过去, borrowers have used hard money because of credit, legal, or financial issues. Hard money financing in commercial real estate is also used when a borrower needs a particularly fast closing because of a deadline, 或者是因为合同中的房产融资失败. 一般来说，由于各种原因，硬通货仍然每天都在使用. 也就是说, 硬通货可能不是你唯一的选择, 在申请硬贷款之前, 你应该知道你是否有其他选择. 请联系Realty Yield获取更多信息.

过桥贷款

Non-Recourse Multifamily and 商业地产 Bridge loan rates and terms vary subject to sponsorship, 贷款金额, 属性类型, 利用, 以及过渡性融资需求背后的故事.

Some common uses of bridge loans are construction completion, stabilization, and rehabilitation.  Bridge loans are ideal for repositioning a property to get competitive permanent financing or sell the asset after the project is managed to stabilization or the "issues" at hand are addressed. 多户过桥贷款可以与房利美和房地美贷款一起申请, CMBS融资或其他银行贷款. Most of the same opportunities exist with commercial real estate bridge loans in general outside of 房利美(Fannie Mae) and 房地美(Freddie Mac) permanent financing options.