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Corporation is a broker licensed corporation in California, License 02071375. Information is intended for Mortgage Professionals only and not intended for consumer use as de;ned by Section
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We Listen. We Advise. We Fund.
At our core, Cherrywood Mortgage, LLC believes that property owners and investors are
underserved by narrow and in;exible banking guidelines. We designed our programs with this
in mind, o;ering more ;exibility than traditional lending sources without charging the high
rates a hard money lender would charge. We understand that every loan has a unique story.
We are ready to help you guide your borrower into a program that ;ts their needs.
• Loan amounts from $75,000 to $5,000,000
• Rates starting in low 6’s
• No tax return and bank statement programs available
• Multifamily, mixed-use, o;ce, retail, light industrial,
self-storage, mobile home parks and 1-4 unit NOO
• LTV’s up to 80%
• FICOs below 650 (case-by-case)
• Foreign nationals at reduced LTV’s
• Fully amortizing terms up to 30 years
• 1-2% YSP available
• Broker comp per fee arrangement,
no caps from lender
<<Multifamily continued from Page 88
Demographics and financing
Positive demographic trends and con-
sumer tastes have had, and will continue
to have, a significant impact on the
multifamily market. The estimated
75. 4 million millennials as of April 2016
are now the largest generation in U.S.
history, eclipsing the baby boomers by
half a million people, according to U.S.
Census Bureau data.
The millennial generation, based on
the Pew Research Center’s definition,
includes those born between 1981 and
1997. They are now hitting their peak
spending and consumption years. They
are holding off on marriage, having
kids later in life and moving more frequently than past generations, all of
which leads to a propensity to rent.
On another front, despite murmurs
of possible moves to change how
(GSEs) Fannie Mae and Freddie Mac are
ing to garner any kind of momentum
leading to actual legislation. This past
November, the Federal Housing Finance
Agency (FHFA) announced that multi-
family lending caps for Fannie Mae and
Freddie Mac will be set to $35 billion for
each agency in 2019.
Furthermore, loans for properties
meeting certain affordability or energy-savings metrics, will be applied toward
the agencies’ uncapped production.
These parameters are intended to
further the strategic goal of the FHFA,
which is to provide liquidity for the
multifamily market without hindering
the participation of private capital. In
addition, there has been an uptick in
market participation by other lenders
— including banks, credit unions, life
insurance companies as well as alternative
lenders like debt funds, which are mainly
involved in financing unstabilized or
n n n
The U. S. economy has been strong, with
consistently positive quarterly numbers.
Unemployment is at its lowest level in
decades and consumer spending is on
the rise. These are the positive trends
influencing the rise in interest rates,
and they are headwinds that bode well
for real estate sectors such as multifamily, industrial and office.
With the GSEs providing relatively
cheap, nonrecourse financing, and
other lenders becoming increasingly
competitive in the multifamily space,
the foundation is set for continued
velocity in the apartment sector, which
should keep investors and other finance
professionals — such as commercial
mortgage brokers — busy for the next
few years. n
“Positive demographic trends and consumer tastes
have had, and will continue to have, a significant
impact on the multifamily market.”