MIXED-USE AND MULTI-FAMILY MORTGAGES
From Gibraltar Bank
Strong, Well-Capitalized, providing real estate financing to New Jersey borrowers for over 100 years.
Gibraltar Bank has competitively priced loan programs for the Purchase or Refinance of mixed-use and multi-family properties. Our real estate professionals bring value added expertise to the lending process and help facilitate the matching of a loan request to a loan program, based on the unique property characteristics and tenant mix. Our goal is to efficiently take a sound loan request to closing so that you have your funds in the quickest time possible.
- Multi-family: 5-15 residential units
- Mixed-use: income producing property with both residential tenants/use and commercial tenants/use (i.e. retail stores, offices, studios, fitness centers) within the same building or parcel of land.
- New Jersey
- $100,000 to $1,000,000 Cap
Maximum Loan to Value ratio (LTV)
- 70% - 75% Based on Property Type
- Application Fee: $495, may be higher depending on property
- Points: 1 point, depending on the loan parameters
- Third Party Costs: The borrower is responsible for all third party costs, including but not limited to: appraisal, environmental site assessment, fees, bank attorney fees (in addition to your attorney fees)
- 10, 15, or 20 year amortizing ARM (Adjustable Rate Mortgage)
- 3 and 5 year ARM rates set daily. Treasury with 5-2-5 caps Margin 3%
- Loan Rates are quoted based on loan characteristics, call Jim Brown at 732-245-5121 or 888-472-1819