Our team can offer extremely competitive loans for Class A, B, C and D property types in the Minneapolis, St Paul and surrounding metro area.
These property types include:
- Multifamily of 5 units or more
- Mixed-use commercial
- Mobile Home Parks
Multi-tenant underwriting boils down to three main things:
-Debt Service Coverage Ratio, Global ratios and Loan to Value. Underwriters confirm that both the property and service the debt at a 1.25 Debt Service Coverage Ratio and the guarantor can personally service the debt as well. Most underwriters feel most comfortable with loan not exceeding 75% loan to value but with exceptions may go as high as 85%. If is a fact that highly leveraged properties are more likely to default.
For more information about applying for a commercial loan please contact: