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This program is ideal for unstabalized multifamily propeties with a minimum of 5 units. 80% loan-to-value financing with up to an additional 20% of the loan amount for rehab (up to 40% on an exception basis). Loan amounts of $1,000,000 to $10,000,000. Loan terms are interest only during the rehab and lease up period (usually up to 18 months) and then converts to permanent financing for the balance of 3 or 5 years. Current interest rates for both the 3-year and 5-year terms are approximately 7.75%.
Since it's founding in June of 1998 Gomberg Financial Services has originated over 400 commercial loans.
If you would like more information on any of our commercial loan programs, please contact our office by phone (781-631-7929) or send us an email. | |
