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Last updated on Jan 3, 2023
2 min read

Multifamily Hard Money Loans

Hard money loans for apartments and multifamily real estate are typically used by borrowers with bad credit, legal or financial issues, or those who need a super fast closing. Multifamily.loans offers hard money loans for real estate investors starting at just $1 million and up.

In this article:
  1. Hard Money Loans For Apartment and Commercial Properties
  2. Sample Hard Money Loan Terms for Multifamily and Commercial Property Loans in 2023
  3. Advantages
  4. Disadvantages
  5. Get Financing
Start Your Application and Unlock the Power of Choice Experience expert guidance, competitive options, and unparalleled industry expertise.
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$5.6M offered by a Bank at 6.1%$1.2M offered by a Bank at 6.0%$2M offered by an Agency at 5.6%$1.4M offered by a Credit Union at 6.1%Click Here to Get Quotes!

Hard Money Loans For Apartment and Commercial Properties

Hard money loans and private capital for hard money situations were, in the past, a rarity, but as markets evolve and capital ebbs and flows, situations may require hard money that may not have in the past. The benefit to true hard money loans on commercial real estate is that the only underwritten component is the as-is value of the property. This means fast closings and high costs.

In the past, borrowers have used hard money because of credit, legal, or financial issues. Hard money financing in commercial real estate is also used when a borrower needs a particularly fast closing because of a deadline, or because financing fell through on a property under contract. In general, hard money is still used every day and for a variety of reasons. That said, hard money may not be your only option, and before applying for a hard money loan, you should know if you have any alternatives available. We have a popular alternative to hard money financing for commercial property that we like to call soft money. 

We have no minimum credit score requirements, but we suggest you bring the process of improving your credit so you can refinance into a conventional loan.

Sample Hard Money Loan Terms for Multifamily and Commercial Property Loans in 2023

Size:                    $1 million and up

Term:                   6 months to 3 years (extension options available)

Interest Rates:    12% +

Origination Fee:  3.00% - 5.00%

Amortization:       Interest only (deferred payments occasionally available)

Maximum LTV:     65% of as-is value

Advantages

  • Loan amount determined by property value.

  • Fast closing process.

  • Limited borrower qualifications required.

  • Disadvantages

    • Highest rates.

    • Highest closing costs.

    • Short period with balloon payment.

    • Risk of losing property for a fairly small loan amount.

    • Full recourse.

    In this article:
    1. Hard Money Loans For Apartment and Commercial Properties
    2. Sample Hard Money Loan Terms for Multifamily and Commercial Property Loans in 2023
    3. Advantages
    4. Disadvantages
    5. Get Financing

Getting commercial property financing should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

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Multifamily Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

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