Gomberg Report Preferred RE What New Financing Recent Deals Interest Rates
Financing Programs Available
Hedge Fund Permanent Program
Hedge Fund Bridge Program
 
CMBS
 
Local Bank Programs
 
Hard Money
 
 
   
Fannie Mae Small Loan Program

This progarm is available nationwide. The SLP offers the best rates and terms available for the purchase or refinance of only apartment buildings with loan amounts from $1,000,000 up to $3,000,000. Best potential leverage available. Eligible properties include apartment buildings with 5+ units and mixed-use properties with up to 20% commercial influence.

Current Rate for the 10-year fixed product: in the low 5's

Program Highlights Include:

Up to 80% Loan-to-Value for Purchases

Up to 75% Loan-to-Value for cash-out refinances

5, 7 and 10 year fixed terms - 30 year amortization

20% commercial influence allowed

45 day loan process from start to close

Reasonable closing costs

Special Underwriting criteria for secondary markets and pre-review cities and states

In these markets our banking partner looks very closely at historic cash flow, new household formations, and the borrower's financial strength. If the circumstances are right we can go up to 85% LTV for a purchase and 75% LTV for a cash-out refinance. All loans above 65% LTV must be preapproved by Fannie Mae. We secure the preapproval prior to the borrower paying any fees.

Pre-review states include Indiana, Florida, Michigan and Ohio. Pre-review cities include Atlanta, Cincinnati, Houston, Seattle, Las Vegas, New Orleans, Phoenix, Scottsdale, Midland and Odessa.

Property Requirements

Property must be in good condition. Up to 5% of the purchase price can potentially be worked into the purchase price for deferred maintenance in appropriate situations, on a case-by-case basis.

Borrower Requirements

Borrower must have excellent credit, appropriate experience and a net worth equal to or greater than the requested loan amount.

Recent transactions originated by Gomberg Financial Services include:

$1,350,000, 75% LTV cash-out refinance loan for this 24 unit apartment building located in Lawrence MA. The rate is fixed for 10 years at 4.25%.
$2,250,000, 75% LTV cash-out refinance loan for this 4 building portfolio containing 48 apartments located in Lynn MA. The rate is fixed for 10 yrs. in the mid 4's and amortized over 30 yrs.
$2,400,000, 82% LTV purchase loan for this 5 building portfolio containing 53 apartments located in Lynn MA. The loan is fixed for 10 yrs. at 4.4% and amortized over 30 yrs.
Three separate Fannie Mae refinance loans for a 24-unit, 25-unit and 30-unit apartment buildings located in Lynn MA.  Total loan amount of $2,647,000. The interest rates were in the high 4's, fixed for 10 years, and amortized over 30 years.
$1,041,300, 80% LTV purchase loan for this 27-unit apartment building in Springfield MA. The interest rate of 6.63% is fixed for 10 yrs. and amortized over 30 yrs.
$700,000 cash-out refinance loan for this 16-unit apartment building in Haverhill MA. The interest rate of 6.91% fixed for 10 yrs. and amortized over 30 yrs.
$640,000, 80% LTV purchase loan for this 13-unit apartment building in West Haven CT. The interest rate of 6.7% is fixed for 7 yrs. and amortized over 30 yrs.
$480,000 cash-out refinance loan for this 5-unit apartment building in Norwalk CT. The interest rate of 5.98% fixed for 7 yrs. and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$460,000, 80% LTV cash-out refinance loan for this 19-unit apartment building in Gardiner ME. The interest rate of 6.31% is fixed for 10 yrs. and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$557,000 cash-out refinance loan for two apartment buildings containing 15 units in Fall River MA. The interest rate of 6.23% fixed for 10 yrs. and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$2,008,000, 80% LTV cash-out refinance loan for an eight building, 45-unit apartment portfolio in Hartford. The interest rate of 6.46% is fixed for 10 yrs. and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$432,000, 80% LTV purchase loan for this 10-unit apartment building in Methuen MA. The interest rate of 6.21% is fixed for 5 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$504,600, 80% LTV purchase loan for a 8-unit apartment building in Lynn MA. The interest rate of 6.34% is fixed for 7 yrs. with the first two years at interest only, and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$393,000 cash-out refinance loan for this 8-unit apartment building in Biddeford ME. The borrower used part of the proceeds to purchase a neighboring 9-unit building. Both loans have an interest rate in the mid 6's fixed for 10 yrs. and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$683,600 cash-out refinance loan for this 9-unit apartment building in Stamford CT. The interest rate of 6.51% is fixed for 10 yrs. and amortized over 30 yrs. Zero points paid by the borrower. Funded by Gomberg Lending, LLC.
$1,041,600 purchase loan for a 22 unit apartment complex in Woodstock CT. The interest rate of 6.2% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$1,334,000 purchase loan for a 25 unit apartment building in Lynn MA. The interest rate of 6.18% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$1,950,926 purchase/refinance combo loan for 8 bldgs. with 54 apartments in Fall River MA. The interest rate of 5.99% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$640,000, 80% LTV purchase loan for a 7-unit mixed-use building in Dennis Port MA. The interest rate of 5.99% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$2,160,000, 80% LTV cash-out refinance loan for this 48-unit apartment complex in Goffstown NH. The interest rate of 6.2% is fixed for 5 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$737,000 cash-out refinance loan for this 14-unit apartment building in Hyannis MA. The interest rate of 6% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$490,800, 80% LTV purchase loan for a 6-unit mixed-use building in Plymouth MA. The interest rate of 6.1% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$550,000 cash-out refinance loan for two multi-family buildings with 11 apartments in Haverhill MA. The interest rate of 6.06% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$704,000 cash-out refinance loan for a 14-unit apartment building in West Springfield MA. The interest rate of 6.22% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$468,000, 80% LTV purchase loan for a 6-unit apartment building in Beverly MA. The interest rate of 6.18% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$624,000, 80% LTV purchase loan for a 12-unit apartment building in Manchester NH. The interest rate of 6.33% is fixed for 10 yrs. and amortized over 30 yrs. Funded by Gomberg Lending, LLC.
$604,000 cash-out refinance loan for a 11-unit apartment building in Pawtucket RI. The interest rate of 6.09% is fixed for 10 yrs. and amortized over 30 yrs.
$1,369,600, 80% LTV purchase loan for a 32-unit apartment building in East Hartford CT. The interest rate of 6.31% is fixed for 10 yrs. and amortized over 30 yrs.
$792,000, 80% LTV purchase loan for a 18-unit apartment building in East Hartford CT. The interest rate of 6.31% is fixed for 10 yrs. and amortized over 30 yrs.
$2,368,000 80% LTV purchase loan for a 36-unit apartment building in Lynn, MA. The interest rate is in the mid 5's and is fixed for 10 yrs. and amortized over 30 yrs. Non-recourse.
$2,000,000 80% LTV purchase loan for a 30-unit apartment building in Lynn, MA. The interest rate is in the mid 5's and is fixed for 10 yrs. and amortized over 30 yrs. Non-recourse.
$1,200,000 refinance loan for a 24-unit apartment building in North Attleboro, MA The interest rate of 5.07% is fixed for 10 yrs. and amortized over 30 yrs. Non-recourse.
$1,368,000 cash-out refinance loan for a 48-unit apartment building in Jaffrey, NH. The interest rate of 6.41% is fixed for 10 yrs. and amortized over 30 yrs.
$1,360,000 80% LTV purchase loan for a 27-unit apartment building in Lynn, MA. The interest rate is below 5.5%, fixed for 10 yrs. and amortized over 30 yrs. Non-recourse.
$728,000 purchase loan for a 12 unit apt. bldg. in Manchester, NH. The interest rate is in the high 5's and is fixed for 10 yrs. and amortized over 30 yrs.
$5,389,000 refinance loan for two properties containing 96 residential units in Lynn, MA. The interest rate is in the high 5's and fixed for 10 yrs. and amortized over 30 yrs. Non-recourse.

Since it's founding in June of 1998 Gomberg Financial Services has originated over 450 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.