Multifamily Term
Roc Capital Makes Multifamily Term Loans Easy
Multifamily Term Terms
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Property Types
5-8 Unit Residential Properties
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Loan Amount
$250,000 - $3,000,000
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Loan Types
30-Year Fixed Rate Mortgage, OR 5/6, 7/6, 10/6 hybrid ARMs (Partial IO or Fully Amortizing)
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Recourse
Full Recourse or Non Recourse with bad-boy carveouts and Pledge of Equity of Borrowing Entity
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Term Length
30 Years
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Max LTC
If Owned <3 months, 70% of Total Cost Basis
If Owned between 3 and 6 months, additional 5% haircut on Max Eligible LTV -
Maximum Loan to As-Is Value (subject to minimum FICO)
Purchase/Rate-Term Refinance: 70%
Cashout Refinance: 70% -
Minimum Debt Service Coverage Ratio
1.20x - 1.40x, based on subject market classification (Top, Standard, Small, Very Small).
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Minimum Guarantor FICO
Mid-Score of 680
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Lease Requirements
Minimum Occupancy Rate of 90% by Unit Count
- Leased Units: Lower of (i) In-Place Rent & (ii) Market Rent
- Unleased Units: 90% of Market Rent (Purchase Loans only)
Attractive alternative to traditional bank and agency financing
Common sense underwriting
Funding for mixed use properties, including singles and portfolios
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