Going straight to a reputable source is the best way to find anything. Whether it is financing for an apartment or to borrow money to rehab a triplex, inexperienced brokers and lenders can slow an investor down. Fortunately, Direct Apartment Lenders offers strategies to get a commercial apartment building loan without a lot of hassles. 

Is it Hard to Get a Commercial Apartment Building Loan?

For new investors or someone who is used to residential financing programs, the process to get a commercial apartment loan might seem challenging.

However, financing hurdles that seem insurmountable for some lenders might be a breeze for other firms.

Every borrower has a unique set of circumstances, too. Although, with fairly good credit, collateral and the motivation to see a deal through fruition, a favorable outcome may be possible. 

When hearing how hard of a time that an investor experienced while going through a prior mortgage loan, it is important to note that a lot of variables can change the outlook for someone else.

Speaking with an apartment lending expert about getting a commercial building loan is an ideal way to consult with a licensed industry professional.

No Tax Return Commercial Building Apartment Loan 

Many self-employed borrowers begin to cringe when a mortgage loan officer asks for personal tax returns. A similar reaction might occur if an apartment lender makes a request for a company’s tax return.

Ironically, throughout the year, many business owners will deduct a variety of expenses that ultimately lowers the company’s taxable income. Generally, this is a favorable practice. But when the time comes to show how much income a company generates to qualify for commercial apartment financing, there might not be enough money to qualify for an apartment loan.   

Now, imagine a loan program that works for an entrepreneur who writes off a large percentage of his company’s income.

We can approve and fund commercial apartment building loans without requiring a personal tax return or business tax returns.

Eliminating the need for tax returns could enable more borrowers to qualify for apartment financing.

Non-Bank Apartment Building Lender 

A growing number of real estate investors have been approaching regional banks a lot less for commercial mortgage loans. Although, banks are still offering a variety of real estate loans. 

Unfortunately, an investor might get tired of investing the time that it takes to submit a commercial mortgage loan application to a bank that has a slim chance of getting approved.

Having a generic list of loan products reduces a bank’s opportunity to compete with Direct Apartment Lenders.

As a premier non-bank apartment building lender, we are well versed in the commercial lending space and we understand the type of support that an investor needs to help increase a real estate portfolio.

What are the Best Mortgage Rates for an Apartment Building Loan?

Shopping for the best mortgage rates for an apartment loan could take some time for a borrower to complete. Many borrowers may find a promotional lending rate among several apartment lenders, however, there might be adjustments for the property type, location, borrower’s credit score, loan-to-value, debt-service ratio and other factors.

Working directly with an apartment lender to explore the best rate and fee combination for a specific project is a great way to find attractive pricing.   

Depending upon an investor’s goals and risk tolerance for a specific property, mortgage rates may be reviewed for a variety of terms.

For short-term projects, an investor might consider a 5/1 adjustable-rate mortgage. For more security, a 10/1 ARM might be the ideal financing vehicle. To get a long-term mortgage that will not be subject to interest rate changes, a 30-year fixed-rate term is a wise option.

Direct Apartment Lenders is an established and resourceful apartment lender with the financial strength to fund deals throughout the United States. Our loan programs contain many of the best mortgage rates that are offered via channels, such as Fannie Mae, SBA, CMBS and other conduit lenders.

We help investors who are searching to find great mortgage rates for commercial apartment building loans.

Apply Online for Fast Support

Submitting an application for an apartment loan is the first step toward a financing decision. 

Many borrowers who were rejected by a few banks in the past may be hesitant to contact a non-bank apartment lender. 

However, many of our current borrowers were quickly approved for apartment loans or received helpful recommendations to better prepare for the next opportunity. 

Through our website, investors can apply for a commercial apartment building loan online. 

We extend fast support for applicants who want to borrow money to buy an income-producing property.

Contact Direct Apartment Lenders today to obtain more details about commercial mortgage loans that do not require tax returns.