Multi-Family Loans

Features

  • 30-year terms

  • No pre-payment penalty

  • Movable Mortgage®Option207

  • Cash-out available on all programs

For more information on apartment building mortgages, e-mail us or call (800) 632-4600, option 1-2703.

Multi-Family Mortgage Loans

Consider the advantages of financing your apartment building with Provident -- up to $4 million for 5-36 units.

Disclosures

  • 207) Movable® option is available on 5/5, 7/23, and 30-Year 10/10 in California only.

Tailored Multi-Family Mortgage Solutions

Whether you're an investor buying a building, using property equity, or funding renovations, our multi-family lending solutions are here for you. We specialize in tailored multi-family mortgage loans for buildings with five or more units.

Expertise You Can Trust:

Benefit from our years of mortgage lending experience. Our dedicated team guides you through multi-family mortgage financing intricacies, ensuring your success.

Customized Solutions:

Your investment goals are unique. We collaborate closely to tailor multi-family mortgage loans that align with your objectives, whether it's a purchase or refinancing.

Competitive Rates:

Enjoy competitive rates that support your financial goals and maintain a sound investment strategy.

Streamlined Process:

In real estate, time is crucial. Our streamlined application and approval process enables you to act swiftly, seizing opportunities as they arise.

Partnering for Your Success:

Beyond transactions, we aim to build lasting partnerships. Your success is our success, and we are here to support you at every step of your investment journey.

Our Multi-Family Mortgage Loan Features:

  • Flexible terms and repayment options
  • No prepayment penalties
  • Competitive interest rates
  • Expert guidance from application to closing
  • Fast and efficient approval process

Multi-Family Fixed/Adjustable Mortgages

Payment per $1,000 balance is based on the interest rate listed for the amortization term listed, and is rounded to the nearest cent. Example: for a 30 year, $1,500,000 mortgage at a fixed rate of 6.250%, $1,500 x $6.16 for an approximate payment amount of $9,240 (loan amount ÷ $1,000 x payment example = payment amount). The monthly payment amount shown includes principal and interest, and does not include amounts for taxes and insurance premiums, if applicable. Your actual monthly payment will be higher if an escrow account is established or required.

Rates are valid as of and are subject to change.

Term in Years Discount Points Interest Rate Payment per $1,000 Disclaimers
5/5 30 Year 0.5 6.250% $6.16 DD, FF
7/23 30 Year 0.5 7.750% $7.16 DD, FF
10/10 30 Year 0.5 7.750% $7.16 DD, FF
  • DD) Interest rate based on the above assumptions, and may be different than the rates displayed here. The interest rates, Annual Percentage Rates (APRs), discount points, and rebates shown are subject to change without notice.
  • FF) All mortgage loans through Provident Credit Union are for homes in California only. Adequate property insurance required for the life of the loan. Flood insurance may be required. All loans subject to credit approval. Other restrictions may apply. Provident Credit Union NMLS #412725

How it Works

The concept is simple - we allow our business members to take the existing Provident balance, existing rate, and remaining term of the loan on the apartment building you are selling and transfer it to the new apartment building you are buying. If you need more money on the acquisition than the current loan, we will add the additional funds at current market and provide a blended rate and term on the larger loan. By using our exclusive Movable Mortgage, you can increase your net revenue in many ways such as:

  • Increasing your buying power

  • Improving your cash flow

  • Lowering your mortgage payments and improving your debt service coverage ratios

Movable Mortgages

With a Provident Movable Mortgage®, you can secure today’s low interest rate and take it with you when you decide to sell or do a 1031 exchange of your current apartment building. Our multi-family mortgage loans allow you to transfer your existing loan balance, low rate, and remaining term to your new replacement property.207

FAQs