- One rental property, one loan
- Loans from $75K to $2.5M
- Flexible term and interest rate options - Interest Only or Fixed
- Up to 80% LTV on purchase, up to 75% on rate/term refi and cash out
- No personal income requirements
- 1-4 units
- Rates as low as 7.15%
- No pre-payment penalty options available
Debt & Structured Finance
Commercial Real Estate Loans
We professionally manage connections between our investor clients, our partners and their customers, providing exceptional results for all.
See Bank Loan Terms
Eligible Properties:
Multifamily, Office, Retail, Warehouse/Industrial, Hospitality, Medical/Healthcare, Self-Storage
Loan amount range:
Minimum $1,000,000
Interest Rate:
Fixed rates vary. Floating Rates from 2.30% over
LIBOR. See current Libor Rates
Loan Term:
3 to 15 years
Amortization:
10 to 30 years
Maximum LTV:
80%
Minimum DSCR
1.20x
Minimum Debt Yield:
7-8%
Recourse:
Can be non-recourse, limited-recourse or full recourse.
Prepayment:
Can be no prepay penalty, step-down, or flat-rate.
Non-Qualified Mortgages (Non-QM)
Surest offers a variety of options for investors of properties with 1-4 units. Weather your investing in fix and flip deals, improving areas with infill development, or building a rental portfolio. Surest offers mortgage options to help you accomplish your investment goals.
See Non-QM Loan Terms
Rental Properties
Surest offers smart, flexible loan programs that can be customized to fit your investment plan and exit strategy. Our rental investment loans are versatile, giving you the leverage you need and the reliable capital you want to acquire one property or a portfolio.
Single Family Rentals
Portfolio Loans
- Two or more rental properties, one loan
- Fixed-rate, ARMs, fully amortizing, or interest-only
- Flexible pre-payment penalty
Fix & Flips
Looking to buy an investment property, rehab, and sell quickly? With a simple financing approval process, our FixNFlip loans enable you to close quickly, fund your rehab, and pivot when necessary.
- Up to 92.5% LTC & 75% LTV
- 100% of rehab budget with 4-day draws
- 13, 19 & 24-month term options
- 1 - 4 Units
- Loans from $75K to $5M
- Rates as low as 8.45%
- Defer the payment of your origination fees to when you exit the property
Bridge Loans (4 Units or Less)
Rent or Build to Sell? We specialize in vertical construction financing on infill, shovel-ready, fully entitled land on single builds or developments.
- Fast closing
- Exterior valuations*
- No prepayment penalty
- Up to 80% LTV
- 13 & 19-month term options
- Cash-out options available
- Loans from $75k to $5M
New Construction
Build to Rent or Build to Sell, we specialize in vertical construction financing on infill, shovel-ready, fully entitled land on single builds or developments.
- Up to 90% LTC, 70% LTARV
- Loans from $100K to $5M
- 19- and 24- month loan term options
- Interest-only new construction loans, paying only on drawn funds
- Fast draw process, funds in as little as four days
- 1 - 4 Units
- Rates as low as 10.2%
- Cash-Out Refinance Option Available
- Use Fix & Flip experience to qualify for new construction financing
See CMBS Loan Terms
Eligible Properties:
Multifamily, Office, Warehouse/Industrial, Mixed Use, Retail, Medical/Healthcare, Self Storage
Loan amount range:
Minimum $2,000,000
Interest Rate:
Fixed rate throughout term and priced over corresponding swap rate.
Loan Term:
5, 7, and 10-year fixed
Amortization:
25-30 year amortization with up to 10 years of interest-only available in select instances.
Maximum LTV:
75%
Minimum DSCR:
1.20-1.25x
Minimum Debt Yield:
7-8%
Recourse:
Non-recourse except industry-standard "bad boy act" carve-outs.
Prepayment:
Typical 2 to 3 year lockout, defeasance or yield maintenance thereafter.
Reserves:
Taxes, Insurance, Replacement Reserves, Tenant Improvements and Leasing Commissions typically required.
Fannie Mae Mortgage Loans
Fannie Mae Multifamily loans may prove to be a feasible way of obtaining lower costing financing.
Utilizing the Fannie Mae lending platform allows investors to purchase and refinance a variety of commercial housing properties, including market rate multifamily, affordable housing, senior housing, student housing, 5 or more unit low-rise apartments, and numerous other styles.
See Fannie Mae Loan Terms
Eligible Properties:
Multifamily properties including student housing, apartments, affordable housing, assisted living, mobile home parks, and health care facilities.
Loan amount range:
Minimum $1,000,000. Fannie Mae DUS program minimum is $3,000,000
Interest Rate:
Fixed rates vary. Floating Rates from 2.30% over
LIBOR. See current LIBOR RATES.
Loan Term:
5 to 30-year fixed-rate loan terms are available
Amortization:
Up to 30 years
Maximum LTV:
80%
Minimum DSCR:
1.25x
Minimum Debt Yield:
7-8%
Recourse:
Non-recourse with standard “bad boy” carve outs
Prepayment:
Yield maintenance. No prepayment premium from final 90 days
See Bridge Loan Terms
Eligible Properties:
Multifamily, Office, Retail, Hospitality, Student and Senior Housing in strong markets
Loan amount range:
Minimum $1,000,000
Interest Rate:
7% or Higher over index
Loan Term:
12 months 36 months. Extensions are possible
Amortization:
Generally Interest with some exceptions
Maximum LTV:
75% of cost (LTC) capped at 70% of the completed or stabilized value.
Recourse:
Non-recourse except industry-standard “bad act” carve-outs.
Prepayment:
Generally allowed
Loan Exit:
Fannie Mae, Freddie Mac, FHA or CMBS Loan.
See Life Insurance Loan Terms
Eligible Properties:
Multifamily, Office, Warehouse/Industrial, Mixed
Use, Retail, Medical/Healthcare, Self Storage, Hotel/Motel
Loan amount range:
Minimum $1,000,000
Interest Rate:
Fixed rates vary.
Loan Term:
5 to 30 year terms available
Amortization:
Up to 30 years
Maximum LTV:
70%
Minimum DSCR:
1.25 - 1.35x
Minimum Debt Yield:
8-10%
Recourse:
Can be non-recourse, limited-recourse or full recourse.
Prepayment:
Typical yield maintenance fee, Break Funding or a Declining “step-down” premium
FHA HUD Agency Mortgage Loans
FHA 223(f), FHA 223(a)(7), FHA221(d)(4), FHA 241(a), FHA232, FHA242
FHA loans offer some of the most generous terms of any commercial real estate loans. The higher leverage, low interest rates and long available terms means there are very few other loan programs match what HUD and the FHA offer.
See FHA/HUD Loan Terms
FHA 223(f), FHA 223(a)(7), FHA221(d)(4), FHA 241(a), FHA232, FHA242
FHA 223(f)
HUD/FHA 223(f) loans offer long-term, fixed-rate financing for non-new multifamily properties.
Qualifying properties must be a minimum of 3 years old (new construction doesn’t qualify), and there can’t have been any major renovations in the past 3 years. Additionally, the average occupancy rate must be at least 85%, and commercial space can’t account for more than 20% of gross revenues or 25% of square footage.
For qualifying properties, the long duration and fixed interest rate that FHA 223(f) financing offers makes these loans well-suited for being a primary mortgage.
FHA 223(a)(7) Loans
HUD/FHA 223(a)(7) loans are exclusively used to refinance existing debt on multifamily properties.
Qualifying properties must already be financed through a HUD/FHA loan program, and the FHA must again approve the property holder for financing. Other than these basic requirements, there are few other major requirements that must be met.
Investors often use FHA 223(a)(f) loans to improve a property’s cash flow. These loans might have a lower interest rate if the current market rates are more favorable than when the initial loan was taken out. The program also offers extended amortization schedules that reduce monthly payments.
FHA 221(d)(4) Loans
HUD/FHA 221(d)(4) loans offer some of the lowest costs of any commercial real estate loans.
The terms for FHA 221(d)(4) include a fixed interest rate, 40-year amortization schedule, 3-year interest-only introductory period (for construction), and maximum 90% LTV. These terms allow investors to keep monthly costs as low as possible, and to spread out almost all of a purchase price over four decades. Both greatly ease cash flow.
Because of the introductory interest-only period, 221(d)(4) financing is particularly well-suited for new construction of multifamily properties. The fixed rate and long amortization are ideal for a primary mortgage on a new property.
FHA 241(a) Loans
HUD/FHA 241(a) loans offer supplemental financing that can assist with major improvements to properties.
241(a) financing can be used to install needed safety features, energy-efficient infrastructure or similar improvements. Improvements often don’t qualify if they’re solely to raise the value or rents of a property, but other improvements that focus on safety, energy efficiency and similar aspects can qualify.
In select cases, FHA 241(a) loans can be used to expand a property. A loan might help cover the cost of additional land on a new construction property, or a loan might help finance hard and/or soft construction costs when expanding an existing property.
FHA 232 / 223(a)(7) Loans
HUD/FHA 232 loans and HUD/FHA 223(a)(7) loans are used to finance senior housing and assisted living properties.
FHA 232 financing can be used for new construction or “substantial rehabilitation” of qualifying senior or assisted living properties. Substantial rehabilitation is defined as rehab projects that either exceed 15% of a property’s value, or require replacing at least two major building components.
FHA 223(a)(7) financing is mainly used to refinance senior and assisted living properties. The loan program can refinance FHA 232 loans, or other loans that are the primary mortgage.
FHA 242 Loans
HUD/FHA 242 loans provide uniquely specialized financing for hospitals and similar healthcare facilities. Compared to other FHA loans, the 242 loan program is an outlier but important.
FHA 242 financing can be used by hospitals for capital projects, acquisitions, renovations, equipment purchases and refinancings. The loans provide low interest rates and flexible requirements, provided they’re restricted to healthcare facilities (and not assisted living facilities). Rural hospitals, urban medical centers, university hospitals and other facilities can get these loans.