San Antonio apartment loans essentially come in two different forms — government structured and backed, and private commercial financing. If you want to purchase a multi-family property or build a new commercial residential unit, you can do so through different types of apartment loans in San Antonio. Because these are offered in different ways and through different means, you’ve got to become familiar with their various elements. Read on to learn more about San Antonio’s apartment loans and what you need to know.

San Antonio apartment loans Basically come in five different packages. As stated above, there are federal, government-backed commercial loans, along with private resources, for the purchase of existing multifamily properties, or to build entirely new residential units.

Two of the most well-known in the industry are Fannie Mae and Freddie Mac. Fannie Mae apartment loans range in amount from as little as 750,000 up to Millions. The long-term can last as many as thirty years, require 20 percent down or more, and offer competitive interest rates. Freddie Mac offers commercial loans ranging from $1 million to $100 million,  also with a 20 percent down or more requirement, and likewise offers competitive interest rates.

A third option is what’s known as bank balance sheet apartment loans. These are made directly through private institutions for commercial investors, usually requiring at least 20 percent or more down, with interest rates and term lengths varying by the lender. Lastly, there are also FHA apartment loans which generally start at $3 million,  require 20 percent down or more, and have loan terms as much as 35 years. Then, there are apartment construction loans, made available through private commercial lenders.