The bank will make two important determinations in their process of deciding to lend on an apartment building. First, they will look at the apartment building itself, its income and expense, cap rate and such. Then, they will consider the buyer, their credit score and their experience in ownership of apartment buildings. Lenders will however have varying criteria for approvals and rates and so it will depend on whether properties and borrowers are A, B or C class, as they're referred to in the industry. With a knowledgeable broker, whether you are a seasoned investor or starting out on your quest of apartment building ownership, find a broker you can trust who can lead you through the process. You can contact me directly for further questions. Your friend in the business, Raluca.
Mar 6, 2012