Platinum Star Financial
specializes in originating multifamily and
offers some of the most competitive terms
and rates in the national marketplace today.
Our service in the industry is second to
none as we believe that a successful
purchase or refinance transaction can only
occur with an open and direct line of
communication with the borrower.
Platinum Star Financial
secures financing for apartment buildings
and mixed-use properties within two
categories.
MID-LARGE
BALANCE
MULTIFAMILY LOANS
Our large balance commercial
programs start at $1,000,000. Generally, the
following property characteristics must be
in place:
-
class "C" or better
property
-
a debt service coverage
(DSC) of 1.15x+
-
actual and trailing
vacancy factor of less than 10%
-
3 years of operating
history unless newly constructed
These program offers the
following:
-
competitive spreads based
on Treasury for fixed loans and LIBOR
for short term loans
-
typically 75-80% Loan to
Value
-
Secondary seller financing allowed up to
85% loan to value
-
non-recourse available
-
commitment fees typically
less than 1.00%
-
30 year
amortizations are standard and initial
interest only is available
This program is quoted on a
case by case basis. Platinum Star Financial
secures financing as a correspondent lender
with over 70 banks, 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.
SMALL
BALANCE MULTIFAMILY LOANS
Our small balance commercial
programs serves most borrowers with loan
requests from $100,000 to $1,500,000.
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.
Platinum Star Financial will
close and fund this loan product.
To submit a loan scenario
please
click here or call 866-669-2782 to
discuss.
