Borrowers Save Time and Money on Apartment Loans Under $5 Million

Apartment Bank, a division of BofI Federal Bank, simplifies the process of obtaining an apartment loan under $5 million. Borrowers save time and money through a streamlined loan process. Apartment Bank is designed specifically for commercial real estate investors, and therefore has devised a structure that meets the specific needs of this unique market.

This streamlined loan process is meant to be able to provide fast close times, most in under 45 days. Reduced document requirements and streamlined third party reports make the process possible.

At the start of receiving an apartment loan, the borrower submits a loan deposit to speed the process along. This deposit is later credited against the closing costs of the loan. An unbiased appraisal is performed by a third-party to determine the value of the property. Additionally, an environmental report and a property inspection are performed by unbiased third parties.

The team at Apartment Bank makes the rest of the process surprisingly easy. A loan expert is assigned to each individual’s case to help determine the optimal loan structure. They also handle the appraisal, title work, taxes, insurance, and getting the current loan paid off (if refinancing).

To apply for quick, affordable apartment and commercial mortgage loans call (877) 433-4003.