Choose the program around the property
Fannie Mae, Freddie Mac and HUD programs have different eligibility, underwriting and execution requirements. Property condition, occupancy, affordability, ownership and the business plan help determine which options deserve a closer look.
Look beyond maximum leverage
A published program limit is not a proceeds commitment. Actual sizing depends on underwriting, value, cash flow and the selected program. Required repairs, reserves and transaction costs also affect cash at closing.
Compare the cost of an early exit
Prepayment provisions, assumption rights, supplemental financing options and rate-lock timing matter if you expect to sell or refinance. Compare them against your proposed hold.
Plan for the required work
A complete application and timely responses help the lender progress through underwriting and third-party review. The necessary reports, approvals and timing depend on the program and property.
What to send us
Unit mix, rent roll, operating statements, property age and condition, existing debt and a summary of any planned improvements or affordability restrictions.
How we arrange financing · Compare term sheets · Documents lenders request
Match the execution to the apartment business plan
An occupied apartment property with recurring income presents a different financing question from a property with deferred repairs or a substantial renovation ahead. The program review should start with those differences, including whether the requested loan can accommodate the work and its timing.
We help compile the operating history, rent roll, capital needs and sponsor information into a coherent financing request. Marshall’s background underwriting more than $1 billion in agency loans informs that preparation and the discussion of lender underwriting.