Apartment Mortgage Loan Requirements for Southern California Property
Apartments (5 or More Units) Mortgages in Southern California
Minimum loan amount is: $50,000
In Most Cases 24 hr Commitment and 4 Day Funding
Most banks and other conventional lending sources all over the country often turn down small amount, sub-par credit loan requests for apartments (5 plus units) financing. Many times the the property is sound and well-occupied. Conventional lenders just don't want to handle a small loan.
Our loan officer will be in contact with you through the entire process from origination to closing to answer any question that you may have. Please understand, each apartment loan is different and we hope we have provided enough preliminary information for you to make Lantern Financial your choice for financing. You can contact us with any additional questions or concerns you may have.
|Geographic Region||Southern California|
|Loan function||Loans for purchase, refinance and cash outs of Apartment buildings of 5 or more units.|
|Rates||Very competitive - Call for quote.|
|FICO score||We work with all credit levels|
|Loan types||Interest only, partially amortized, fully amortized and fixed rate loans.|
|Loan-to-Value ratio (LTV)||Up to 60 % LTV.|
|Subordinated debt||Seller carry back (2nd) position allowed up to 100% (CLTV).|
|Buyer down payment||As little as 10% with seller carry back.|
|Collateral||Senior or junior trust deed loans available.|
|Appraisal||Appraisal might be paid out of proceeds - no upfront fees possible.|
|Fast Commitment and Closing||In most cases, 24 hour commitment and 4 day funding|
Call 1-800-504-0100 Today for a Free Loan Evaluation or better yet, fill out the No-Obligation, Free Application Form to see how we can help your situation.
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Lantern Financial Sponsors
"A Divine Gift" !
Lantern Financial and their team can be defined in these terms.
Our Ministry financial needs were pressing and immediate; and the means to continue an extensive building project where great but incomprehensible to conventional lending institutions.
Conventional Banking was insensitive to our needs, schedules and showed little understanding of Church operations and needs. This is where Lantern Financial excelled.
They are time sensitive and possess great understanding of Non-profits.
Lantern's financial Team met our total need and consolidated loans to meet our extended needs. We have not only a lender but a relationship with Lantern Financial.
Our Ministry is most appreciative because of Lantern's understanding, belief and working expertise. They are "A Divine Gift."
A . Turner, Pastor, and President
Covenant Worship Center Ministries