Apartment Building Financing
June 28, 2017 | Posted by: UBU Financial
Financing of up to 85% of the appraised value of your apartment building is possible at rates as low as 2.5% for a 5 year term!
Borrower must have a net worth equal to at least 25% of the loan amount, with a minimum of net worth of $100,000. For corporate borrowers, additional personal and/or corporate guarantees are required over and above the loan covenants. The amount of additional guarantee is 2% of the loan amount for each percentage in LTV ratio above 60%
Current operating statement for the subject property and/or copies of property taxes, insurance and utilities invoices for the most recent 12 month period as well as copies of current lease agreements.
While additional documentation can always be provided later in support of a file, based on UBU Financial's relationship with lenders, we avoid unnecessary delays by submitting applications with minimum documentation to get you approved and funded quickly!