When Banks Reject, We Accept!!
Faster Approval and Funding • Creative Financing Options
6.65% - Current estimated rate
- When Banks "Say No" - We are an alternative to banks!
- Competitive Rates
- Credit Union Funds
- Smaller Markets
- Reasonable Closing Cost
- Surety of Closing!
Call Paul to size loan (248) 265-3935
Bristol Capital Group specializes in apartment loans in Michigan. We pride in our ability to pay off underlying bank loans, CMBS, life insurance loans and existing agency loans funding with new long term, fixed rate low interest mortgages. We offer alternative non-bank loans at very competitive rates!
We steer our clients through the apartment loan process and are extremely hands-on. Apartment loans can be funded within 45 to 60 days. Timeliness for acquisitions given high priority.
Apartment Loan Program Highlights
- Term: 5-Year fixed rate
- Amortization 20 to 30 years
- Maximum LTV 80%
- Debt Service Coverage: 1.20
- Fee to Lender: 2 Points including Bristol Fee
- Third Party Reports: Appraisal, Environmental
The following is requested to size an Apartment Loan:
- Current Rent Roll
- Trailing 12-Month Rent Collections
- 3 Years Historical Operating Statements (Income and Expenses)
- Current Year-to-date Operating Statement
- Description of Property - Location, Number of Units, Year Built, Amenities, etc.
- Property Offering Photos
- Underlying Mortgage Balance if ReFi
- Purchase Contract if Acquisition
- Amount of Loan Requested