A commercial loan for multifamily properties can either be a long-term or short-term loan. The funds can be used for buying, developing, or rehabilitating a multifamily real estate with more than five units.

Depending on the lender, you can get anywhere from $500,000 to tens of millions of dollars. Term rates, interest rates, down payment requirements, and loan limits also vary per the financing program.

Commercial Multifamily Loan Rates
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Commercial real estate multifamily loan rates will vary per lender, but they are usually dependent on the asset class, location, DSRC, leverage, and other factors. The best way to know is to contact reputable lenders for a quote and compare their offers. It is also important to keep in mind that commercial multifamily loan rates change daily. Spreads depend on the lender and your preferred product, and their range is determined by factors like property class, type, and income.
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Commercial Multifamily Loan Processes
A commercial loan for multifamily properties will provide the capital you may need to build or complete your project. You must be able to meet the terms to qualify for the loan. In general, you should be able to pay back the whole balance within one or two years after completing the project. If approved, you should be able to get your commercial multifamily loan funded within a few days.