Click. Quote. Analyze. It's time this industry cut out the nonsense for multifamily loan quotes.
Today marks a major milestone for the StackSource platform, as we are live with automated multifamily loans quotes at the click of a button.
Yes, real, accurate loan quotes in a few clicks, no back and forth with a loan officer and waiting for him to finish his round of golf for feedback. See for yourself:
Users of the StackSource platform can receive live soft loan quotes by entering basic information about a property (address, units, etc) and information about the property’s current income. There are two types of live loan offers now live on the platform:
For loans of $3 Million or more on stabilized multifamily assets, investors can receive live HUD loan quotes. HUD 223(f) goes up to 85% LTV (or higher for assets with affordable rents), Non-recourse, and some of the lowest rates in the industry. Example:
SBL stands for “Small Balance Loans”, which means $1 — $6 Million in this case. This Freddie Mac loan product will be a match for any stabilized multifamily properties, with a minimum occupancy of 90% and at least 3 months of seasoning. The max LTV of 80%, 30 year amortization, and Non-recourse guarantee make this one of the most attractive financing options on the market for small multifamily investors.
Example Freddie SBL quote:
By generating an instant multifamily quote in the StackSource platform, the borrower can choose to move forward uploading underwriting information to receive a term sheet, for free. Or, the borrower can seek additional market quotes (non-instant) from banks, credit unions, and life insurance companies before deciding to move forward, for a 1% origination fee at closing. Market quotes can be compared and analyzed next to the instant agency quotes to make sure you’re getting the best possible financing terms.
As we teased with the initial announcement about our Browser Extension tool, you’ll soon be able to call for instant loan quotes on any property listing across the web. That means you won’t need to go through the hassle of creating multiple loan requests on StackSource’s platform. You can use accurate financing assumptions while modeling dozens of acquisition deals in quick succession. Efficiency for the win!
These two different programs are reliable multifamily loan options to test out for this new approach to loan quotes. As our users test and utilize what we’ve built so far, we plan to add several other loan programs as available options in 2021 and beyond.
We aim to eventually automate loan quotes for some other segments of the commercial real estate market. If you’re a direct lender that’s interested in partnering with StackSource to automate quotes in order to scale up your originations efficiently, please contact us directly.
Don’t guess at your rate and loan terms when analyzing potential investments. Get an instant rate and sizing you can rely on.
Isn’t this how you always imagined commercial financing should work?