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 Apartment Loans: 21+ Units by Tom Markel

If you’re looking to purchase a commercial building with over twenty-one residential apartments or office units, chances are you’ve had some experience in obtaining commercial mortgages before. Very few make such a large investment their first time out, so we’re going to assume that you’re somewhat seasoned. There are some fairly significant differences between a commercial mortgage for a smaller building with less units and a larger, multi-floor apartment or office building with over twenty. If this is your first time involved in a venture this large, there are a few things you need to know.
As far as the bank is concerned, larger commercial mortgages are no more risky than very small ones. In fact, lenders are often less likely to approve a commercial mortgage for a 1-4 unit building than they are for a 21+ unit building. The proposals they receive for larger structures are typically from more experienced investors and the buildings themselves either have tenants or the developer has a plan in place to get tenants. Smaller buildings can easily end up with 100% vacancy, leading to early foreclosure on the mortgage.
Another significant difference in the purchase of a larger building is the amount of actual liquid cash presented up front as a down payment. That cash represents significant risk on the part of the investor, more than in a smaller real estate deal. The bank is more likely to approve a commercial mortgage for an individual or group that puts up large amounts for a down payment. For this reason, many of the purchases of larger commercial buildings are made by groups of investors, diversifying the risk and solidifying the guarantee to the lender that the mortgage will get paid.
Here at, we’ve spent the past few years compiling a list of lenders who specialize in offering commercial mortgages to investors just like you. It doesn’t matter to us whether you’re flying solo or are the point person for a large group. There is someone out there who will give you the money you need to make that purchase. Prepare a solid business plan and fill out our application form. You’ll be pleasantly surprised at the number and quality of different options that are available to you.

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