Bristol Capital Group specializes in apartment loans. We pride in our ability to pay off underlying bank loans, Conduit loans, life insurance loans and existing agency loans funding with new long term, fixed rate low interest mortgages. We steer our clients through the apartment loan process and are extremely hands-on. Apartment loans can be funded within 60 days. Timeliness for acquisitions are given high priority.
Apartment Loan Program Highlights
- Term: 5 - 30 Year Fixed Rate
10 Year Rate Currently +/- 4.3% - Amortization up to 30 Year
- Maximum LTV 80%
- Debt Service Coverage: 1.25
- Fee to Lender: 1 Point including Bristol Fee
- Third Party Reports: Appraisal, Environmental, Property Condition
- Non-Recourse in Most Situations
Fannie Mae / Freddie Mac Loans
Fannie Mae Over $3 Million
Fannie Mae Small Balance
Freddie Mac Over $6 Million
Freddie Mac Small Balance
The following is requested to size an Apartment Loan:
- Current Rent Roll (85% occupancy required)
- 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 Brochure/Photos
- Underlying Mortgage Balance
- Loan Request