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Financing Programs Available
Fannie Mae Small Loan Program
Local Bank Programs
Fannie Mae DUS Program
Bridge / Alternative Financing
Rooming Houses

Financing for this type of property is generally harder to secure than for apartments because of the cash nature of the business and the high turnover of tenants.  Interest rates are usually higher and the LTV is usually lower.  Some lenders will provide up to 70% LTV.  Recent transactions originated by Gomberg Financial Service include:

$900,000 purchase loan for this Lodging House consisting of 40 rooms and 4 studio apartments.  The interest rate of 7.25% is fixed for 2 years and amortized over 15 years.  The purchase price was $1,345,000 and the loan LTV was 67%.

Since it's founding in June of 1998 Gomberg Financial Services has originated over 425 commercial loans.

If you would like more information on any of our commercial loan programs, please contact our office by phone (781-631-7929) or send us an email.