Class A, B, and C Grade. Class D on a case-by-case basis.
Underwritten to Agency Takeout
LOAN PURPOSE: Multifamily bridge loans for purchase or refi of small and middle-market investment properties (5+ multifamily units) that are stabilized or in need of renovation/value-add.
LOAN AMOUNT: $500K - $5MM.
TERM: 12 - 24 Months.
BORROWER RECOURSE: Recourse and Non-recourse. Non-recourse option will have standard carve-outs; availability will be determined on a case-by-case basis.
MAXIMUM LOAN-TO-VALUE (LTV): Up to 75% of purchase price and 100% of renovation costs subject to 80% total (LTC).
MAXIMUM LOAN-TO-COST (LTC): Up to 75% of purchase price and 100% of renovation costs subject to 70% of stabilized value (LTV).
WHEN DO WE USE LTV VS LTC?: Generally, we use the lesser of LTV or LTC calculation.
REHAB/CONSTRUCTION FINANCING: Funding up to 100% rehab budget up to % Approved LTV of Total Costs.
FOREIGN NATIONALS: Allowed with established US credit subject to 55% stabilized LTV max.
PROPERTY TYPES: 5+ unit Multifamily, min $35,000/Door. Acceptable properties are Class A, B and C grade. Class D properties will be considered on a case-by-case basis.
Why Choose a Fairmount Multifamily Loan?
Up to 100% financed renovation with a completed project and future rental value analysis.
Grow with Fairmount: As you fund more property loans with us and gain experience, your terms may improve.
Provides short-term placement with an outlook for permanent financing at the end of the term of the loan.
