Banc Series California Apartment Loan Program


Banc Series California Apartment Loan Program

California is one of the largest and most diverse markets for multifamily housing. Multifamily properties located in California require more than just a "one size fits all" approach to financing. The Banc Series California Apartment Loan program provides the most competitive rates and terms and greater flexibility in underwriting guidelines to help maximize your investment in California multifamily housing.

  • Specialized financing for CA properties
  • Industry low 1.15 DSCR
  • Interest only payment options
  • Reduced rates for lower leveraged deals
  • Rate lock at LOI
  • Reduced and no prepay options

Banc Series California Apartment Loan Program Guidelines

  • $1,000,000 - $15,000,000
  • 1.15 DSCR
  • Up to 75% LTV
  • Rate lock at approval
  • 3, 5, and 7-year fixed rate terms
  • 30-year self amortizing terms
  • Interest only up to 5 years
  • Flexible prepay structure - pay up to 20% per year without a prepay penalty
  • 660 minimum credit score
  • Loan converts to adjustable rate at the end of fixed term based on 12 MAT
  • .50% quarterly rate cap
  • Interest rate floor is equal to start rate
  • Lifetime cap is the greater of 5% over the start rate or 9.5% plus any price increases
  • 90% minimum occupancy required
  • Limited seismic reports (liquefaction report)
  • Mixed-use with up to 25% commercial income and square footage acceptable. A minimum of 5 residential units required
  • Impounds for tax and insurance not required
  • Replacement reserves not required
  • A and B property types only
  • Eligible property types include, 5+ unit traditional apartment complexes, condo properties without fractured ownership, town homes, duplexes, high-rise. Properties with more than 25%
  • Studios considered on an exception basis.
  • Properties with off-street parking only are prohibitive
  • Personal recourse required (non-recourse considered for lower leveraged deals)

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Provide some basic information about the property and the financing you’re seeking and we will provide you with a custom quote designed around your specific needs and financing objectives.

It’s really that simple.

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Eligible property types Multifamily property types: 5+ Unit Apartment Building, 5+ Unit Townhome Style Contiguous, 1-4 unit Residential Contiguous, 1-4 Unit Non-Contiguous > 5 units, 5+ unit Fractured Condominium, Mobile Home Park, Student Housing, Affordable Housing With LURA, Affordable Housing With Section 8, Affordable Housing With HAP, Seniors Housing With Care, 55+ Seniors Housing Without Care, Military Housing, Cooperative

Why Choose CREFCOA

More Choices
Better Decisions

Unbeatable Rates
Unbeatable Terms

Ease and Convenience
Simplified Loan Process



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What you need to know about the Banc Series California Apartment Loan Program

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 California Apartment Loan program that program guidelines and highlights don't tell you.


  • Most competitive program for CA multifamily properties (rates, terms, prepay, costs, etc.)
  • Typically able to obtain higher loan dollars on debt service constrained loans
  • Recently relaxed seismic requirements for both property and third party reports
  • Local underwriting and decision making


  • Select markets only
  • Best rates and best terms available. Therefore, underwriting is picky about asset quality and strength of sponsorship
  • Slightly longer processing times
  • Tax returns required
  • Global DSCR calculation
  • Minimum liquidity and net worth requirements

Eligible Locations

Financing provided for properties located in the metropolitan areas of Los Angeles, San Diego, Orange, Santa Barbara, Ventura, Sonoma, San Jose, Napa, San Francisco, Contra Costa, Alameda, San Mateo, Santa Clara and two counties in Washington State (King and Snohomish Counties).

Other markets in metro California considered on a case by case basis.

CREFCOA acts a referral agent only for properties located in California.