Competitive class A, B, C, and D apartment Loans for the Twin Cities, MN area.
These property types include:
- Multifamily of 5 units or more
- Mixed-use commercial
- Mobile Home Parks
Multi-tenant underwriting boils down to three main things:
-Debt Service Coverage Ratio, Global ratios and Loan to Value. Banks confirm that both the property and service the debt at a 1.25 Debt Service Coverage Ratio and the guarantor can personally service the debt as well. Most underwriters feel most comfortable with loans not exceeding 75% loan to value but with exceptions may go as high as 85%. If is a fact that highly leveraged properties are more likely to default.
For more information about applying for a commercial loan please contact:
Dax Dickson
Commercial Real Estate Companies, LLC
651-447-6300
1 comments:
Do you only do broker apartment loans in Minneapolis & St Paul area or do you work in out state Minnesota?
Is the financing you broker only good for apartments or can you do anything on mixed-use properties?
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