Banc Series West Coast Apartment Loan Program


Banc Series West Coast Multifamily Loan Program Overview

Customized apartment financing and mobile home park financing available for properties located in core markets of California, Oregon and Washington. The Banc Series West Coast program provides highly competitive terms delivered through a streamlined "deal making" underwriting process.

  • Aggressive pricing - won't be beat on rate
  • DSCR calculation based on P&Ls, not on tax returns
  • Fast local decision making
  • Fixed rate terms up to 15 years
  • Low LTV interest rate reductions
  • Lower DSCR (1.20) maximizes loan dollars
  • 90 day rate lock at Letter of Intent
  • 30-year amortizations
  • Limited prepayment penalty

Banc Series West Coast Program Guidelines

  • $1,000,000 - $10,000,000
  • 1.20 minimum DSCR
  • Up to 75% LTV
  • 90 day interest rate lock at time of LOI
  • 3, 5, 7, 10, and 15-year fixed rate terms
  • 30-year amortization
  • Step down prepay (e.g. 3,2,1)
  • Personal recourse required (non-recourse considered for lower leveraged deals)
  • 660 minimum credit score
  • Loan converts to adjustable rate at the end of fixed term based on 6-month LIBOR
  • .50% quarterly rate cap
  • Interest rate floor is equal to start rate
  • 10% lifetime interest rate cap
  • 90% minimum occupancy required
  • HAP regulatory agreement properties okay
  • Limited seismic reports
  • Mixed Use with up to 20% commercial income and square footage acceptable. A minimum of 5 residential units required
  • Mobile home parks acceptable
  • Impounds for tax and insurance not required
  • Replacement reserves not required
  • A, B, and C property types considered
  • 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.
  • Minimum 2 star quality park for MHP

Got 5 minutes? Request a custom quote today!

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

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Unbeatable Rates
Unbeatable Terms

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Simplified Loan Process



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What you need to know about the Banc Series West Coast 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 West Coast Apartment loan program that program guidelines and highlights don't tell you.


  • Quick (at application) extended rate locks
  • Fairly flat approval process (i.e. no multi-level committee meetings, etc.)
  • Lower rates for lower leveraged loans
  • Terms rarely change from LOI
  • Limited inspections (e.g. no engineering report)
  • DSCR based on P&Ls, not on tax returns
  • Use annualized rent roll, not historical income, for recently stabilized properties


  • Tertiary markets ineligible
  • Tax returns required
  • Global DSCR calculation
  • Minimum liquidity and net worth requirements
  • Property condition and location are important
  • Annual financial reporting requirements