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Banc Series Nationwide Apartment Loan Program

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Crefcoa has the knowledge, expertise and strategic relationships required to provide you with the most competitive rates and terms for your multifamily property.
  • Multiple program options
  • Competitive rates and terms
  • Knowledge and expertise
  • Certainty of execution
  • Convenient electronic loan process
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Banc Series Nationwide Program Overview

Available nationwide in most primary and secondary markets. The Banc Series Nationwide Apartment Loan program provides competitive, low cost apartment financing for properties with five or more units, mixed-use commercial properties with less than 25% of revenue generated from commercial use and mobile home park communities.
  • Nationwide lending platform (not available in all states - see below)
  • Fast decision making
  • Flexible underwriting guidelines
  • Low LTV interest rate reductions
  • Secondary financing considered
  • Customized financing for your unique situation
  • 30-45 day closings

Banc Series Nationwide Program Guidelines

  • Apartment loans from $500k
  • 1.25 minimum DSCR
  • Up to 75% LTV
  • Purchase or refinance with cash out
  • Rate lock at time of LOI
  • 3, 5, 7 and 10 year fixed rate terms
  • 30 year amortization
  • Step down prepay (e.g. 3,2,1)
  • Personal recourse required (non-recourse considered for exceptional sponsorship at 55% or less LTV)
  • 640 or better credit score required
  • Loan converts to adjustable rate at the end of fixed term based on 6-month LIBOR
  • Semi-annual interest rate cap is 1%
  • Interest rate floor is equal to start rate
  • 6% lifetime rate cap over start rate
  • 90% minimum occupancy required
  • Section 8 subsidized rents okay
  • No earthquake, tuck under parking or PML requirements
  • Mixed Use with up to 50% commercial income and square footage acceptable. Five apartment units minimum required
  • Mobile home parks acceptable
  • HAP contract acceptable with strong sponsor
  • Student housing properties acceptable
  • Foreign Nationals up to 65% LTV
  • Impounds for tax and insurance not required
  • Replacement reserves not required
  • Down payment gifts acceptable
  • Seller financing permitted on a case by case basis
  • A, B, and C property types considered
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What You Need to Know

Program descriptions, highlights and underwriting guidelines are helpful when considering if an apartment loan program is right for you and your property. However, they don't always tell the whole story. Below is what you need to know about the Banc Series Nationwide Apartment Loan program that program guidelines and highlights don't tell you.
  • Exception based underwriting
  • Storied deals acceptable for strong sponsor
  • Property exceptions (age, condition, structural)
  • Lower rates for strong sponsorship, properties located in major markets and low LTV
  • Tax returns required
  • Global DSCR calculation
  • Higher rates for properties located in smaller or tertiary markets
  • Minimum liquidity and net worth requirements

Tier l Pricing

Reduced Tier l pricing available for the following locations and sponsor profile.
  • 700 credit score / net worth > loan amount / 5% pre-closing liquidity / must own at least two other multifamily properties or have substantial additional income sources / no Bankruptcies, foreclosures, short sales, tax liens, charge-offs
  • Two year stabilization / subject property must not have more than 25% studio units and no brick or unreinforced concrete buildings
  • Property locations: Salt Lake, Chicago, Boston, DC, Seattle, Minneapolis, Denver, Portland, Dallas, San Antonio, Austin
Apartment loan availability -- including LTV, DSCR, and loan size -- may vary depending on property location, economic conditions, exposure, and other variables that may negatively influence risk. Loan programs and program guidelines are subject to change. Information provided is not an offer to make a loan and should be used for informational purposes only. Meeting the minimum program eligibility requirements doesn't automatically qualify you for a loan. Program not available in the following states: Arizona, Arkansas, California, Maryland, New Jersey, New York, South Dakota and Wisconsin.