Gomberg Express Program




	Financing Programs Available



	HUD 221d4 Rehab Program NEW


	HUD 223-f Permanent Financing Program NEW


	Bridge Rehab Program

	Fannie Mae DUS Program




	Rooming Houses

	Local Bank Programs

This Nationwide program is your alternative to the Fannie Mae 3-Max Express Program. It has been streamlined by our banking partners with lower costs and faster closings. It is the best money available for the purchase or refinance of apartments with loan amounts of $750,000 up to $3,000,000. Eligible properties include apartment buildings with 5+ units and mixed-use properties with up to 22.5% commercial influence.

Fannie Mae has made many changes to their underwriting requirements over the past 6 months. Prominent changes include:

1. Minimum DCR to be considered for 80% LTV has been raised from 1.2 to 1.3

2. 90% occupancy requirements have been lengthened from 90 days to 1 year

3. The minimum loan size has been raised from $500,000 to $750,000

4. Tertiary markets with populations under 250,000 by county or MSA are not eligible

5. Average FICO score was 680, now all three FICO scores must be 680+

6. Out of state buyers are subject to much more stringent requirements

Current Interest Rate for the 10-year fixed product: 6.02%

Program Highlights Include:

Available Nationwide (Subject to pre-review states and tertiary markets)

Loan size from $750,000 to $3,000,000

Up to 80% Loan-to-Value (Must be very strong transaction and have 1.3+ DCR)

Only 65% Loan-to-Value in "Pre-review" states

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

22.5% commercial influence allowed

45-50 day loan process from start to close

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:

	$1,041,300, 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.