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At Team Aguilar, we have all the experience and expertise you need if you are considering an apartment loan. We know all about the apartment industry in San Diego and can help you find all the options available to make your apartment loan very quick and easy. Whether you are purchasing an apartment building or just need some help with refinance, let us help you out and reduce the anxiety of getting a loan.
We will go over everything you will need to determine your loan amount but these are all very easy things and you probably have everything already. Of course we will need to know the income potential, how many apartments are rented and pictures of the apartment building. Rates can vary depending on many different factors such as maintenance, overall look, and location. These are just a few of the many factors that have to be considered before choosing a loan program.
There are many types of apartment loans so we can help you decide what payments are right for you and how many years you will need financing. We have worked with people just like you for many years in San Diego and we guarantee you the best rates possible.
The apartment financing industry is very competitive and many companies will give you a quick spiel that sounds good but might not tell you every detail. At Team Aguilar, we pride ourselves in helping you understand the ins and outs of current rates and what will happen in the near future. We also know everything you could possibly need to help choose the perfect loan program for you.
Here are the main questions we will need to know
- Those initial basic questions are as follows:
- Location / address of Apartments?
- Number of Apartments and what combination, Studio, 1 Brm, 2 Brm, 3 Brm, etc ?
- When were the Apartments originally built and do you have Current Rent Rolls?
- Is this a Purchase or a Refinance?
- If a Purchase, what is Purchase Price and do you have a Signed Contract?
- If a Refinance, how long have you owned these Apartments?
- If a Purchase – is this a “Distressed Sale”?
- Are there any Liens on the Apartments now and, if so, how much, and to whom?
- What is your Management Experience in Apartment operations?
- How is / will the property be held – LLC, Trust, Partnership, Sole Proprietor, etc?
- What is your current NET WORTH – and do you have a Personal Financial Statement?
- What is your current Liquidity?
- What is your current Credit Score?
- How soon do you need this loan to close – and what would be LTV?
- Do you have Two Years of Tax Returns, Financials and/or Net Operating Income (NOI) information available?
Please contact us with questions.