Platinum Star Financial
secures financing for apartment buildings
and mixed-use properties within two
categories.
SMALL
BALANCE APARTMENT BUILDING LOANS
Our small balance commercial
programs serves most borrowers with loan
requests from $100,000 to $5,000,000.
Through these select programs, we offer no
personal documentation loans, 90% loan to
value loans, stated income loans, second
mortgages and lines of credit up to $500,000
and loans where the property's debt service
coverage (DSC) falls below 1.00x. These
programs are very competitive and allow
borrowers the opportunity to reduce their
closing costs when compared to large balance
commercial.
APPLY NOW
To submit a loan scenario
please
click here.
LARGE
BALANCE
APARTMENT
BUILDING LOANS
Our large balance commercial
programs start at $2,000,000. Generally, the
following property characteristics must be
in place:
-
class "B" or better
property with 20 or more units
-
a debt service coverage
(DSC) of 1.15x+
-
actual and trailing
vacancy factor of less than 10%
-
2 years of operating
history unless newly constructed
These programs offer the
following:
-
competitive spreads based
on Treasury for fixed loans and LIBOR
for short term loans
-
typically 80% LTV; with
mezzanine financing up to 90%
-
non-recourse
-
negotiated commitment fees typically
less than 1.00%
-
up to 30 year
amortizations
This program is quoted on a
case by case basis. Platinum Star Financial
secures financing as a correspondent lender
with over 70 conduit lenders and life
insurance companies throughout the United
States. Our process assures the best
possible financing by using our industry
knowledge to understand the lender's
appetite for any particular scenario at any
given time. Our negotiation skills combined
with our lender relationships allows the
borrower to tap into a very competitive
source of financing.
APPLY NOW
To submit a loan scenario
please
click here.
