Financing Information

Gomberg Financial Services specializes in financing apartments buildings, retail, office and industrial properties with mortgages starting from $250,000.

As of April 2009 we are now a correspondent with a HUD MAP Lender that has 18 years of experience. They offer two excellent HUD loan programs. The HUD 221-d4 Loan Program for apartments with low occupancy and/or needing rehab and the HUD 223-f Loan Program for permanent financing. Warren Gomberg offers a wealth of experience working on HUD loans. He closed over 100 HUD loans in 1995 and 1996.

Please click on the title of the below financing programs for more information.

HUD 221d4 Rehab Loan Program NEW
Available for rehab of vacant or mostly vacant apartment properties (You can also use this program on Mill and Mercantile buildings). You can finance up to 90% of both hard and soft costs. It is a straight 40-year fixed mortgage and it is non-recourse. Rates are currently in the mid 6's. You can work out prepay burnoff after 5 years. Minimum loan amount is $5,000,000.

HUD 223-f Loan Program NEW
Available for permanent apartment financing. Minimum loan amount is $4,000,000. Up to 85% LTV with 35-year fully amortizing fixed terms. This program with allow the seller to hold a second mortgage up to 7.5% of the purchase price for a combined LTV of up to 92.5%. Rates are currently in the mid 5's.

Gomberg Express Program
Excellent Apt. financing - Up to 80% LTV - 5+ units - Loan amounts from $750,000 to $3,000,000 - 10 yr. fixed rates with 30-year amortization. 6%. 20% Commercial influence allowed. Rates are currently around 6%. Many underwriting changes have been made to this program over the last 6 months. See details on the Gomberg Express Program page.
Our own alternative to the Fannie Mae 3 Max Express Program, streamlined by our Banking Partners

Bridge / Apartment Rehab
Excellent option for apartments with low occupancy and/or needing rehab - Up to 70% LTV. Hard and soft costs 2-3 year term, 12-14%. Extreme credit qualifications required.

Fannie Mae DUS Program
Excellent Apt. financing - Up to 80% LTV - 12+ units - Loan sizes from $3,000,000 - 10 yr. fixed rates with 30-year amortization. Non-recourse terms available. Ideal for larger transactions with no more than 20% commercial influence. Rates are currently around 5.75%.

Rooming Houses
Up to 75% LTV - Rates from the mid 7's - 3-5 year terms - 25-30 year amortization

Local Banks
Available for New England area only. Loan amounts from $250,000. Up to 75% LTV with rates from the mid 6's with up to 30-year amortization. Up to 70% LTV for cash-out refinances with just one-year seasoning required. Rehab money availabe.