Apartment Loans

Ready Mortgage has over 75 banks, lenders or financing sources and nearly 2,000 apartment loan programs available in all 50 states ranging from small 5 unit properties to large apartment complexes with hundreds of units. To qualify for most of these loan programs the property has to debt service with a minimum of 1.15 %. This means that the Net Operating Income for the property (Gross income minus all operating expenses and property taxes, except any loan payments) needs to be enough to make the fully amortized payment on the new loan 1.15 times. Ex: For a loan payment of $1,000 per month, the Net Operating Income needs to be $1,150 per month. The calculations for this can be difficult so we suggest you simply fill out the quick quote form and we will have one of our loan specialists calculate all the numbers for you.

Reduced debt servicing programs are available for select properties with well qualified borrowers. Call our toll free number for more information about whether your property fits the parameters.