Agree Capital Corp

• We lend from $1,000,000, to $100,000,000 (or possibly more). Loans below $2,000,000 are considered on an exception basis.

• Multifamily Rental Properties (both apartment houses and garden apartment complexes),
• Senior Independent Living Multiple Dwelling Residences,
• Assisted Living Facilities,
• Intermediate Care Properties,
• Board and Care Homes,
• Nursing Homes,
• Hospitals,
• Single Room Occupancy Residences,
• Student Housing, and
• Mobile Home Parks.

 1. Generally our loan amounts can be as high as 85% to 90% of property value. 

 

     a. If the property does not require substantial rehabilitation, we will consider commercial mortgage loans for 85% of the property value PLUS up to 85% of underwriter approved closing costs PLUS 85% of the cost of deferred maintenance repairs, if the property qualifies. This means our loan amount may be effectively as high as 87% to 92.5% of the purchase price. This loan may include Repair Money for Deferred Maintenance, subject to limitations including a maximum repair money cap equal to 15% of property value. This type of mortgage is a fixed rate commercial mortgage loan for up to 35 years, fully amortized.

 

     b. If the property requires "substantial rehabilitation", our underwriting guidelines include commercial mortgage loans for 90% of the "as is" value plus 90% of rehabilitation expense, subject to certain limitations including completed value. These loans are fixed rate commercial mortgage loans for the time necesarry to complete the rehabilitation plus 40 years, fully amortized.

 

     c. We also lend for new construction. Our new construction mortgage loan can finance 90% of the property's purchase price (or "as is" value) plus 90% of the construction costs, subject to certain limitations, including completed value. These loans are fixed rate commercial mortgage loans for the time necessary to complete the new construction project plus 40 years, fully amortized. A 40 year loan has lower monthly payments than a 30 year or 15 year loan (assuming a similar interest rate). Reducing the monthly payment increases the monthly net cash flow to the property owner.

2. We will consider "No Personal Recourse" Mortgage loans with 85% to 90% mortgage financing for all three of the above categories. 

3. Our loans are Assumable for qualified purchasers

4. Agree's longer term, low interest rate, fixed rate mortgages:

(a) Provide payment stability and reduce the monthly payments,

 

(b) Don't need to be refinanced (reducing interest rate risk and potential refinancing expenses) and

 

(c) Improve the monthly cash flow for the investor-borrower.

5. Almost all of our property types listed above will be considered for high loan amount financing.

6. Mobile Home Park financing is available for properties that need "substantial rehabilitation" or for new construction.

7. For particular mortgage loans, Healthcare Financing may include major equipment purchases.

• For Purchase and Refinance Inquiries, Click Here:   Purchase - Refi's