Multi-Familly / Apartment

» Hard Money Loans

Avatar Financial Group funds apartment building and apartment complex purchases and refinances. We work with brokers and directly with borrowers. We offer two types of loans for apartments:

Hard Money Loans for the following apartment property types

  • Apartment Buildings
  • Apartment Complexes
  • Apartments – Duplex and Fourplex (4-plex), etc.
  • Apartments – semi detached
  • Row Houses
  • New construction (newly completed or at least 80% completed)

If you are seeking an apartment loan for the purchase of an apartment building or complex, you will want to provide us basic info about the property and the purchase agreement. For the fastest response, use our 2-minute loan scenario form. Take note of the loan ID number that is generated when you complete the form. Put that loan ID in the left corner of the subject line when you email us any supporting documents, such as photos, financials, appraisals, etc. This will help to speed your response time.

Be prepared to tell us:

  • Location of the property – city and state
  • The purchase price
  • Estimated date of closing
  • The estimated current fair market value of the property
  • The reason you are seeking hard money rather than a conventional loan
  • % of occupancy
  • Gross Rents (per annum)
  • Expenses (per annum)

Be prepared to send us color photos – inside and out – of the property as well. If you have an appraisal for the property, you can speed the review process by sending that to us.

If you are refinancing an apartment building, complex, etc. be prepared to tell us:

  • Location of the property – city and state
  • The purchase price
  • Date you purchased the property
  • The estimated current fair market value of the property
  • The reason you are seeking hard money rather than a conventional loan
  • % of occupancy
  • Gross Rents (per annum)
  • Expenses (per annum)

We will review your loan scenario as quickly as possible. On weekdays, we can generally review the property on the same day or at the most, the next day and get back to you with an LOI or a reason why we may not be a good match for that specific loan scenario. In the event that Avatar Financial Group is prepared to move forward with the due diligence process, expect an apartment loan to close in about two weeks from the time the LOI is signed by the borrower and returned with the down payment toward the third party costs of due diligence.

Things to note about Avatar Financial Group’s hard money apartment loans:

  • Avatar’s minimum loan is $1 million
  • The minimum property purchase price is $1,500,000
  • In the event of a refinance, the minimum fair market value must be $1,500,000
  • Our maximum LTV is 65-70%

 

Multi-Familly / Apartment - Apply for a Hard Money Loan