29 Jul Utah Multi-Family Loans
Multifamily Loans Utah – Fast Terms & Immediate Financing!
Do you need assistance with a multifamily loan in Utah?
Nelson Funding teams up with a variety of direct lenders to offer loans for every multifamily project including:
- Ground-Up Construction
- Mezzanine Loans
Our lending partners can lend in the United States, Canada Mexico, and the Caribbean.
No deal is too big for our direct lending partners! Multifamily deals close in as little as 5-10 days, so you can take advantage of the incredible opportunity you have your eye on.
Take a look at our lending parameters and learn more about the application process below!
Multifamily Loan Lending Parameters
Once you are ready to start the process to receive a multifamily loan in Utah, take a look at the Nelson Funding lending parameters. Loan amounts start at $1,000,000 and go upwards of $250,000,000+. Interest rates range from 4.99%-9.99%, the origination fee is 2-4 points, term length can range from 6-36 months, and the time to close is 1-3 weeks.
Nelson Funding finances the following situations:
- Vacant properties
- Quick Closings
- Chapter 11 exits
- Distressed properties
- New construction
Eligible property types for a commercial loan include:
- Hospitality (Flagged and Boutique)
- Student Housing
- Senior Living
- Storage Units
- Investment Residential
- Luxury Properties
- Mobile Homes
- Single Tenant
To receive the terms for your multifamily project in Utah, you must provide Nelson Funding with the following items:
- Profit and Loss Statement for the last two years
- Personal Financial Statement
- Operating Agreement/By-Laws
- Purchase Sales Agreement/Real Estate Purchase Contract (if there is a purchase)
- Hud-1 (if purchased within the last three years)
- 4 Color Photos or an Old Appraisal
- Rent Roll (if applicable)
- List of Improvements Made/Required
- Resume/Background of Principal(s)
We, Will, Be There for You Every Step of the Way
The process to get a multifamily loan and finish a project can be complicated. Nelson Funding will be your advocate throughout the process. Not only do we provide access to an extensive network of lenders to offer fast mortgages and loans, but we will do everything in our power to get you the loan you need in a timeline that works for your project. Our lending experts understand more about multifamily development projects than other lenders and our fast funding makes us the top choice in all of Utah for commercial loans!
Our 4-Step Lending Process
Our simple 4-step process is convenient, straightforward, and efficient! Our friendly loan officers will be there through every step to answer your questions and help you ensure everything is in order.
- Fill Out an Online Application – Apply online and submit any necessary documents for your loan.
- Review LOI – Our lenders will quickly issue terms after receiving all documents and getting follow-up questions answered. They require a refundable expense deposit to cover legal fees and third-party reports such as as-needed basis-appraisal, BPO, and title. Terms are typically issued within 2-4 days.
- Due Diligence – Lending partners will meet with you to conduct a site visit. At this stage Appraisal/BPO and the title are completed. This is usually completed within 7-14 days.
- Fund – Lending partners will coordinate closings and even offer mobile notaries. Closing will take place within 10-30 days depending on the deal type.
Get Started with Nelson Funding Today
We are the leading provider of fast commercial mortgages and loans in the industry for your multifamily project. Our streamlined process for getting hard money for immediate financing needs is the best way to kickstart a ground-up construction, refinance, or purchase a property. We provide fast terms and expedited closings because we know the value of quick capital!
Not only do we partner with lenders to provide multifamily loans for Utah, but we also provide the following commercial lending opportunities:
- Hospitality Loans
- Industrial Loans
- Land Development Loans
Direct loan submissions and general inquiries about multifamily development projects Loans@NelsonFunding.com